848evo
Long

DXY USD Strength Chart Analysis *** PLEASE READ ***

TVC:DXY   US DOLLAR CURRENCY INDEX
63 2 1
I don't usually post DXY             charts because you can't track volume to determine clusters, but I think it's important to explain what I see and why I believe DXY             will continue it's bull run. The lines in this chart are not clusters, they are just traditional S/R lines. So, first we can see that PA has broken out of a wedge or triangle formation. Typically, when PA breaks, it will reach at the least the first 61.8 extension, which PA has not. Also, oddly enough if we look at estimated movement based on triangle range, we see it aligns perfectly with the first 61.8 extension. And then even more evidence by how the 61.8 fib level and break range estimate both fall perfectly on a strong resistance line? We could look further and see how the upper resistance line also lines up with the 1.618 extension for a possible move even higher after hitting the first resistance line. I mean, how much more do you want? Bull .

We had some bad news for NFP, but I think we'll see either a quick recovery and shoot up or possibly a bit of ranging and then up. I'll be bull until it breaks that major TL.
***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.

Related Ideas

haug01 PRO
2 months ago
Good post. Gold, stocks, and bonds are all falling. Which currency will be the safe haven? USD (for now)?
Reply
848evo haug01
2 months ago
Bitcoin ;-)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out