The chart is clear. USD should range up to 100, and as low as 89 in the coming three years, after that is anyone's guess.
currently: Long dollar, short gold and silver, long BTC, long equities.
2022 looking for SPY shorts, Volatility longs and to scoop up cheap altcoins after 2022 crash
The USD hit 3th time 0,857 resistance this year and it was a critical time now.
IF the resistance is broken USD have a potantial to go till 0,88 ~ 0,89
but if the resistance persist ( most likely ) it can go to suport level of 0,84 .
It was not a financial advice , idea was published only for training purposes.
USD has been rallying since end of May 2021 until recently (end of Aug)
Could the top end of Aug be a false break ?
It seems 0.8400 is a strong support level for USDEUR. I am expecting the pair to sideways between 0.84 and 0.853
Lets watch and see... a higher USD will most likely cause gold price to drop.
I am still bearish on Gold.
As you see, we saw multiple rejections from 85 level. Note, this is inverted eurusd, this is how American financial system looks and trades EUR, in dollar value. This should be kept in mind. You will not understand what is going with EURUSD on until you see that USDEUR simply hit 85. I did quite a few trades to and off 85. It has to be decisive breakout candle...
Taking risk off from Euro-->USD--> US equities for election next year and ECB uncertainty.
If dems win a lot of seats which they probably will then might assume Euro breaking through the top of range (red line).
Might swap into euro--> china indices a few years down the line if euro hits like 1.34 usd. that's if their banking situation improves or becomes more...
This is a USD index I created. I use these to help gage currency strength when looking for a pair to trade. I have more of a neutral bias for the dollar right now. Waiting to see how price action plays out.
"Don’t blindly follow someone, follow the market and try to hear what it is telling you." - Jaymin Shah