💾 U.S. Dollar Index Bearish Monthly Chart Short

U.S. Dollar Currency IndexTVC

Description

⋅ Apr 16, 2023 7:54 PM

Let's give another look at DXY.

The U.S. Dollar Index moved below EMA10 on the downside Dec. 2022 for the first time since June 2020.

Moving below this indicator is a bearish signal and always leads to a correction.

Last month EMA10 confirmed as resistance; A rejection happened on the way up and this is followed by a break below EMA21 this month.

The RSI produced a strong 8 year long bearish divergence and is now trending lower.

This is a long-term chart and gives a clear picture.

The U.S. Dollar Index (DXY) going down

People reach all sorts of conclusions based on this.
DXY going down on the long-term timeframe, Bitcoin going up on the long-term timeframe...

Please share your own correlation with other markets.

The daily timeframe agrees based on Elliot Wave theory!

💾 DXY | U.S. Dollar Index

Namaste.

Comments

JankoBanko

⋅ Apr 17, 2023 7:12 AM

I am watching an eurusd chart on a 3month chart and I think this shows the dolar movement against everything. it looks like the dollar will go down to 1,6-2 per 1euro in around 2035 and that might be the lows for it. I mean everything else in the world should go up against dollar until then.

arvine11

⋅ Apr 16, 2023 7:58 PM

yes its bearish d3finitely....