eman19

Dollar Gaining strength and a possible Support/Resistance Flip

Long
TVC:DXY   U.S. Dollar Index
I am watching the dollar continuing to gain strength. Technicals point towards a recent support/resistance level flip. We got one candle close above and after the recent fed meeting, it appears rates will continue to push higher. This will cause further increase in the strength of the dollar index and push down asset prices. The news and technicals are lining up. This can bring overall continued downside momentum to crypto currencies and the stocks. Look for a short pullback in gold/silver pricing should the dollar continue to push higher.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.