Today I'm sharing with you my general analysis about DXY .
As we can see in the chart, after the peek the price made a corrective wave and breakdown forming bearish wave with lower lows and lower highs! During the bearish wave I found that the momentum indicators started to show divergence on 4 hours, 1D time frame.
Till the price found the support near 103 range with double bottom pattern which is a sign for reversal and bearish wave end!
Personally I use Awesome Oscillator and True strength indicator . Divergence with momentum indicators = momentum is lost!
First target is to test the breakdown from the corrective wave which is located around 110 range.
Not financial advice. Kind regrads,
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DXY started to turn bullish again. It might be the destructive week that we are waiting for.
Bearish rejection right off major upward trend line and weekly 10 EMA - Double bottom to be retested and broken next week after Thursdays CPI - 101 incoming
aboLsis
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@Jsad2, Lets see what's gonna happen! thanks for your comment!
JoeChampion
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I agree on USD strength, thanks!
Skyrex
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Nice idea, brother 😎 I agree, the next bullish wave on DXY and bearish on cryptocurrency is incoming
aboLsis
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@SkyrexTrading, thanks!
CryptoSnoopy
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i hope it happens finally, its about time, to pump DXY and Dump stonks and Crypto to new lows ! .. really NO reason to grow..just bulltrap before selloff.