DXY long, UPDATE, EXPLAINED, Market behavior, Correlation

Hello Traders !

What is the DXY?
It is an index of the value of the United States dollar relative to a basket of foreign currencies. The Index goes up when the U.S. dollar gains strength (value) compared to other currencies.

Why do we need to analyze it?
Actually I like to have a look on the DXY because of the Correlation. So the DXY is nice to use when we are trading XAUUSD , EURUSD , AUDUSD , GBPUSD . Usually when the DXY goes up, the mentioned pairs will go down.

Chart Analysis:
Actually we see a very nice Up Trend Trend Channel and we could see that the price reversed from the daily resistance. I also marked on the Charts my Supply and Demand Zones. Now we are at the daily Demand where I expect the price to go up like marked on the charts.

That was my Idea and I hope you did like it. Please leave a LIKE if you like my Content that I share with you. In the comment section you can tell my your view and ask questions.

Thank you and we will see next time
- Darius.