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SlumberJack92
Jun 15, 2022 11:31 AM

DXY reversal? Positive signs for the market Short

U.S. Dollar Currency IndexTVC

Description

DXY is touching the top of a multi-year parallel channel on the monthly chart, whilst also displaying bearish divergence on the RSI. This, to me, signifies at least a small reversal over the next couple of months. This should be buillish for stocks and crypto, which are all reaching significant levels of support at the same time. There is a lot of fear in the market, and blood on the streets (at least in crypto), so I am buying in here for a swing trade.

BTC:


SPY:


QQQ:


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