The Bullish and Bearish Arguments for DXY
The bullish and bearish trendlines as we currently stand. Bulls will tell you that we have broken the white resistance and are going sideways before a move up, citing higher lows since (90.0). Bears will tell you we are continually being rejected off the blue line, and are still in a strong downtrend on higher time-frames.
PERSONALLY I tend to agree with the bears in this case. Money printing and government stimulus are driving the economy in the current climate and i feel DXY will range for a bit, and then drop below (90.0) with a 4-5% drop. I say this because on high time frames, previous dips have lasted for over 32 days and drop at least 4.2% each time (planning on publishing a chart on this soon so look to my profile for more info)
If you enjoy my amateur insight and have anything to add please like and/or comment. Best of luck
PERSONALLY I tend to agree with the bears in this case. Money printing and government stimulus are driving the economy in the current climate and i feel DXY will range for a bit, and then drop below (90.0) with a 4-5% drop. I say this because on high time frames, previous dips have lasted for over 32 days and drop at least 4.2% each time (planning on publishing a chart on this soon so look to my profile for more info)
If you enjoy my amateur insight and have anything to add please like and/or comment. Best of luck
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