DXY | MONTHLY ANALYSIS
DOLLAR INDEX is trading with in bullish parallel channel.
The price has been trading within a channel since 2008.
1) The price back in 2009 hit upper boundary of channel and almost drop 17% from its top to bottom. The total days it took to hit bottom was 245 days (8 Months)
2) The price 2nd time took beat from upper boundary of channel back in 2017. The price drop 12% from its top. The total days it took to made a bottom was 242 days (8 Months).
3) Now recently price hit the upper boundary of channel.
Now if Dollar index is topped,
Then it may drop minimum 12% and can took 245 days to hit the bottom and in such case it will made a bottom at 101 (12% drop) by June 2023 (245 days/ 8 Months).
The price has been trading within a channel since 2008.
1) The price back in 2009 hit upper boundary of channel and almost drop 17% from its top to bottom. The total days it took to hit bottom was 245 days (8 Months)
2) The price 2nd time took beat from upper boundary of channel back in 2017. The price drop 12% from its top. The total days it took to made a bottom was 242 days (8 Months).
3) Now recently price hit the upper boundary of channel.
Now if Dollar index is topped,
Then it may drop minimum 12% and can took 245 days to hit the bottom and in such case it will made a bottom at 101 (12% drop) by June 2023 (245 days/ 8 Months).
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