$DXY -Decisive Move Around the Corner !!!

16 mai

Dollar Index DXY on the cusp of making a major move TA speaking ;
(100.8 or 110)



- To the upside starting currently by jumping at 200EMA and breaking recent highs within pattern while facing strong resistance just above on Range Ceiling(105) and last Highs of 107(ChoCh).


- Either falling off a cliff headed in to re-visiting Range Bottom of 100.82 (Swing/Positioning)



Fundamentally speaking ;

Would be a great move to the Upside for DXY Fundamentally speaking,
resulting so on SHORTING anti-correlated assets, such as EUR/USD and other FX pairs.

Must be time for DXY to strengthen even more, makes sense ,,
otherwise Recession is just ahead !

On headlines ,
CPI USIRYY is coming lower,
with economists awaiting Fed Cuts USINTR cuts by end year.
However, worth mentioning is that wealth hedges such as GOLD continues to be stocked up in piles of tonnes from China CNGRES and not only;
China's Wealthy Class is also in the process of purchasing pure physical Gold





*** NOTE

This is not Financial Advice !

Please do your own research with your own diligence and
consult your own Financial Advisor
before partaking on any trading activity
with your hard earned money based solely on this Idea.

Ideas being released are published for my own trading speculation and
journaling needed to be clear on different asset classes price action.

11 juil.

Note

DXY breaking down on CPI's numbers released for June 2024.



It is the third consecutive month for USIRYY falling down.
Is DXY about to re-visit range lows of 100 ?
There is a long way to get there from here with plenty of price support levels below, but the inflation catalyst has definitely proven itself over today's price action