I believe price will settle before making a leg up to 2022 ATH then carrying on throughout next year to 116 ish. Going to be a very bleak winter the higher the dollar worse things will get.
Happy Friday all. DXY, printing a right angled triangle, and the ROC printing a clear triangle. If DXY continues lower below triangle support, target could be 104, and this should send cryptos and currencies higher over the weekend. Triangle could indicate a resistance breakout too however, where target would be nearer 119.
In my previous DXY analysis I said that 113 should provide strong resistance and a drop from here is probable.
Although we indeed has a drop, this was short-lived and didn't reach my 110 target and reversed from the ascending trend line indicating that bulls are not done yet.
Now the price is again close to this resistance and the Morning Star candle formation...
We have a bullish dollar index for the past year of 2022, i am waiting to see how price would react in the area,
we can potentially look for buy & sell opportunities, lets be patient and wait for price to give us some clear direction
US Government 10 YR Bonds prices is falling and the Yield is rising so Dollar Index will continue the uptrend.
Fundamental & Technical Support for the bullish trend
if dxy fails to break here we could see dxy push down pretty soon which makes sense because of eql lows and trend line liquidity so i beleive we are about to see a nice sweep of those lows
the dollar has been real nice to use had a pull back then broke the high came back retested that bullish orderblock and starting to push towards tp1 we also had a internal break of structure so bulls have a little power the downside is i dont see a higher low just yet and new session about to start lets see what happens with dxy
Seems like the new trend for BTC is to Pump & Dump into bullish rectangles.
- Analysis done on 4H chart.
- Behavior analysis since the formation of HH on 13 September
- For a more accurate coloration I keep a track on DXY index
- My current short term biased is to short BTC since DXY has bounced from support at 111.783
Let me know what you think?
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
ive been keeping an eye on the DXY religiously as of late. i have a strong feeling were aiming to hit around the 113.2 range before retracing down. perhaps not all the way back to bottom of trend, but ultimately i expect it will rise towards 120 as a target.
if that low holds and we get a higher low i beleiev a nice dollar push up will happen might not last to long but this would be a pull back b4 the next leg down which would explain the gold drop nu drop au drop and indices might be next keep eye on this it will tell you the overall story of all dollar pairs
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Today, in addition to technical analysis of the dollar index, I would like to consider the situation with global liquidity (that is, the need for this DXY).
In order not to be distracted later, let's immediately see what is happening in our technical system. Here,...
Ol, so the DXY just won't cool off, right... Well, we need to deal with it then... I think we head up toward 121.500 zone before a massive rejection takes place.
