🔥 The Dollar Keeps Rising, But For How Long?

In recent months I've made several analyses on the Dollar Index (DXY). In virtually all of them I had a bearish tone in my analyses, which ended up being correct. See below.

Now that the dollar has been rising parabolically for almost all of 2022, I think it's time to take a look at a potential dollar top - and a potential market bottom resulting from said top.

As seen on the chart, I see two areas of resistance. The first one is the symmetrical channel's resistance (purple) and the second is the yellow resistance area. It's too soon to determine which one will end up causing the long-term reversal (if at all), but it's good to keep in mind that we are relatively close to these massive resistance areas.

In both cases, the dollar will rise more before facing resistance. Consequently, this means that there's more market downside before we can look at longer term upside.

If the DXY goes all the way to 120 before reversing, we can safely assume that we have a lot more selling ahead of us. Be prepared for all scenario's.