DXY is inside a rising channel in monthly time frame and probably will reach to upper bond of channel.
As it is clearly shown in monthly chart , DXY has broken long term major down trend line and there is no major static resistance on it's way up to 121 ! . The only resistance which may be able to push it down is upper bond of mentioned channel ! Can these resistances make confluence at 121? Exciting !.
Daily time frame chart with focus on recent moves shows an up trend line with 5 hits with latest hit being the 5th. A bullish divergence was also formed between stochastic indicator and the chart. Unless seeing failure conditions, every evidence in multi time frame analysis is in favor of more upside move which signals more strong dollar.
I hope this analysis to be helpful and wish you all the best.
Comentarios
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Dollar re-gains strength. A new higher high? Lets follow.
Comentarios
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It is heading toward our 121 target. Congrats!
Comentarios
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Today, We had strong rejection from top of channel. Please note monthly time frame chart. As mentioned in idea only resistance before major static resistance which may be able to push it down is this resistance.
When we look at history, USD is rather strong just before major catastrophes happened. Russia default 1998, Dot com bubble burst 2001~2002, Lehman shock 2008 (housing bubble burst), and China shock 2015-2016. Just before this USD was strong. Just after USD collapse. Now, China housing bubble burst. We now have 4 elements Russia default, Cathie Wood busted, US housing burst, and China housing burst. So it is time ticking bomb situation. I bet it won't reach to 121.
SaeedSajedi
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@juntashirojp26328, Thanks for information my friend. What you say is possible of course. I also mentioned in the text and update that top of major channel may prevent DXY to reach to 121 and today we had another strong rejection. It still may reach to 121 but before that should break top of the channel.
UnknownUnicorn7131705
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Do you see a rebound for SPX as possible? 3900? 4000?
SaeedSajedi
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@tintin300, In my opinion, SPX will bottom at 3400 in best case scenario, My moderate case target is 2200_ 2400 and in worst case which is also possible may GOD bless the market. I will publish an about it soon.
SaeedSajedi
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@tintin300, You may like to check these two analysis out:
SpyMasterTrades
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So interesting. Thanks for sharing your target.
SpyMasterTrades
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Here's something interesting I noticed...
SaeedSajedi
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@spy_master, Very interesting. Thanks for sharing .I think Dollar will be stronger than euro soon and thats the policy and war. Europe was talking about independency from USA in trump era and this is punishment. Russia will cut gas export in winter . GBP is also in danger. Dollar and pound may have same value in up coming months.
SaeedSajedi
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@spy_master, I am sure you noticed that time frame is monthly and upper channel bond may push it down before reaching target. However monthly time frame chart suggests 121 as a major target.
masoudranjbar
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