maccabean

Is the US Dollar overbought?

INDEX:DXY   U.S. Dollar Index
If you are considering entering a trade that attempts to predict the a top of the current US dollar             upward trend, it's important to keep in mind the historical context of its recent strength. The US dollar             is still relatively quite low and has a long way to go yet before you may call it expensive.

I would advise against betting against the USD until we have a signal that we have some price stability even though certain indicators such as the CCI say that it is over-valued. (This might also mean that all things being equal, all commodities valued in USD should only be sold or not traded at all.)
elp
2 years ago
Agree with your analysis. The DXY is following at cycle, my belief the dollar is setting up a major rally. dyx chart
snapshot
The EURUSD is in a cycle too, tradingview has a small look back period for the eurusd, netdania has data where one can observe this current pattern is following a previous one. eurusd
snapshot
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