It seems that DOLLAR INDEX move is becoming overstretched and the price could be topping as it is approaching strong resistance (confluence of longterm trendlines) on monthly chart.
Also sligthly above there is 0.618 fib retracement of the huge downtrend 2001-2008.
Also TD Sequential will print "9" by end of this month.
For all the reasons above I do expect pullback which could send the Dixie back down to 0.5 fib retracement (95ish) as shown by blue path projection.
Zoom🧐 in for better experience.
DXY weakness should mean Crypto, Stonks and Commodities strength. Bear in mind that we are looking at monthly chart so the potential reversal will not happen overnight. The price can overshoot the resistances a bit which often happens at the end of trend (blow off top).
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
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Oh forgot to display the TD Sequential, sorry. Here we go:
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The blue path projection in the original interactive chart got screwed up for some reason (this is TV bug I already experienced with other idea). Just look at the pic above how it should actually look like ☝️
I’m expecting a break out, what the monthly chart shows is a monster size bullish Div, daily shows a bullish made as well, same with weekly with a macro W forming on the 1w-1 month chart. I think inflation, Covid and the war with Ukraine among the turmoil the world is in right now is gonna cause dxy to go parabolic and take down the whole market there is a secret confluence line I found that caused dxy to rebound it’s super strong so we should wait and see but I think dxy is going to resist the bearish tendency and continue upside from the feds influence
TripleSuave
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@born2bwylde2005 there is certainly enough bullish divergence to really propel this thing forward so we just have to wait for an exogenous factor to come in and tank the market to confirm it
@born2bwylde2005, thanks for your detailed comment. This my analysis ignores the fundamentals, it's pure technicals. I just see cluster of many resistances using different approaches (didn't even mentioned all of them to keep it simple). Anyway that doesn't mean the resistance will hold. As always only time will tell. Cheers!
shri30389
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We're heading to 102.028 at least. Screenshot this.
bizmark
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@shri30389, no need for screenshot bro ... it's stored here 😉
BrianM20
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wishful thinking 🤔
bizmark
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@BrianM20, Brian, maybe you could post your idea backing your thoughts. Otherwise your post is just empty words vs my arguments. 😉