DXY - Flirting with Historically Bearish Level
The US Dollar Index (DXY) is still flirting with a historically bearish level and momentum. JPOW has to come out swinging this week during the FOMC to save DXY 101/2 level. Remember, generally speaking DXY down = BTC up.
In the past 30 years, the DXY was rejected along the red line (~101), signaling larger downside moves. Given the recent parabola and retreat by the DXY, momentum in a bearish trend, this is looking like increasingly likely to happen an 8th time in the coming months.
In the past 30 years, the DXY was rejected along the red line (~101), signaling larger downside moves. Given the recent parabola and retreat by the DXY, momentum in a bearish trend, this is looking like increasingly likely to happen an 8th time in the coming months.
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