DXY King Dollar has still fuel on this rally.

2023年10月4日

The DXY (U.S. Dollar Index) is on a strong 3 month rally that has taken the market by surprise. However if we look on the (much) larger time-frames such as today's 1M (monthly), we see that this move wasn't so unexpected.

First of all, the price rebounded just before it hit the 1M MA50 (blue trend-line). On a large scale, DXY is simply extending the Channel Up pattern that emerged after the market broken above the Lower Highs of 1985 on the January 2015 candle. Fed wanted to believe it but this break-out extended the Channel Up that has already started on the 2008 bottom, the peak of the Housing Crisis. The central bank policies certainly achieved at keeping the greenback the most desired currency in the world.

Now back to the analysis, we can see that the 1M RSI symmetry suggests that the price might be on the final bullish wave before a new correction to or even below the 1M MA50. Still though, the current bullish wave has much room to grow before it exhausts.

Do you think it will keep rising and maybe reverse by Q2 2024?

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇