Hello.
Here is a brief analysis of the DXY (dollar) chart.
The current position is also a possible rebound position.
First of all, since the downward wave 4 hour correction trend line was broken, two predictions are made.
Depending on whether it is a daily correction pattern or a reversal form as an uptrend, the dollar can rise further quickly.
We'll wait for the CPI release this week, but if the CPI is higher than expected, interest rates will rise, which will push up USDJPY. Metal products such as gold and silver seem to be careful. USDCAD may also move higher right away without a major correction.
Conversely, if the CPI is lower than expected, the dollar will continue its downward wave, creating a correction pattern.
But the overall pattern is that the dollar is in an uptrend, drawing a monthly correction trend line, so it will prepare for a final uptrend someday.
Below is a 4-hour chart of DXY. The starting line of the impulse below is the weekly correction trend line.
Even if the impulse start line is broken, an upward wave may continue by drawing a monthly correction trend line again after the monthly correction process is in progress.
We will update you as changes occur.
Here is a brief analysis of the DXY (dollar) chart.
The current position is also a possible rebound position.
First of all, since the downward wave 4 hour correction trend line was broken, two predictions are made.
Depending on whether it is a daily correction pattern or a reversal form as an uptrend, the dollar can rise further quickly.
We'll wait for the CPI release this week, but if the CPI is higher than expected, interest rates will rise, which will push up USDJPY. Metal products such as gold and silver seem to be careful. USDCAD may also move higher right away without a major correction.
Conversely, if the CPI is lower than expected, the dollar will continue its downward wave, creating a correction pattern.
But the overall pattern is that the dollar is in an uptrend, drawing a monthly correction trend line, so it will prepare for a final uptrend someday.
Below is a 4-hour chart of DXY. The starting line of the impulse below is the weekly correction trend line.
Even if the impulse start line is broken, an upward wave may continue by drawing a monthly correction trend line again after the monthly correction process is in progress.
We will update you as changes occur.