Stable gains can be seen in the dollar index. Our assumption is that the exchange rate is going to turn. This 11866 level is the correction level of the previous W1 ATR. In the event that you turn from this level, you will have the opportunity to have a stable long-term increase. Since the ATR axes are steep in this range, which means that fast growing traffic can be expected, a steeper start can be imagined. Our first target price is 12214 levels. After a minor correction, I expect a significant increase again. From this wave structure it would be possible to reach another maximum around the 12730 level. Again there is a correction. Its magnitude can decide the direction and size of the additional wave motion. That is why I will return to this later.
I agree.Usd $ is oversold and also at big support.USD safe heaven.Please keep uptade it.
meszaros
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@AUGUSTOCSA, I agree with you. If you look at the EURUSD currency pair, there is also a W1 2ATR distance and the exchange rate. These are very strong levels. If Mario Draghi is not able to reduce the euro today, I would expect a spike just up to a level of around 1.21. I do not expect any further increase in the EURUSD pair. Therefore, I expect the dollar index to rise.
midas11
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What about the DXY. Is it going to have same directional movement