Quick look at DXY

2023年8月23日

In the past few weeks, the DXY index has been showing some strength, and the current bullish momentum is amplified by the price breaking above the falling channel!
It is reasonable to mention that the index is currently approaching a high resistance zone, and if that zone is broken, the index could be seen at the 108 level.
The reason why the DXY is so interesting to watch is due to the fact that Stocks and cryptocurrencies have an inverted price action to DXY. DXY can, therefore, be used as an inverted indicator to tell the possible direction of Stocks and cryptocurrencies.
Stocks and cryptocurrencies are expected to go lower if DXY keeps its bullish momentum and keeps rising.

2023年8月25日

註釋

DXY Trying to penetrate the resistance zone!

2023年9月5日

註釋

Exactly as expected!