DXY Sell the rallies - best trade for the next 2 years.
The US Dollar Index on the monthly chart has been inside one giant Channel Down. The 3M RSI hit the 70.00 overbought level and as it did in 2001and 2015, the price reacted immediately with a sell-off.
The rejection should aim first for the bottom of the inner Channel Up, the pattern that took the price from the lows of the giant Channel Down in 2008 to the highs of this year. If broken and the price also breaks the 1M MA200 [orange line], which has been almost exactly at the middle of this giant Channel Down, we can confidently sell beyond 2025 as well to the low 70.00s.
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The rejection should aim first for the bottom of the inner Channel Up, the pattern that took the price from the lows of the giant Channel Down in 2008 to the highs of this year. If broken and the price also breaks the 1M MA200 [orange line], which has been almost exactly at the middle of this giant Channel Down, we can confidently sell beyond 2025 as well to the low 70.00s.
Follow us, like the idea and leave a comment below!!
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