US Dollar Currency Index (DXY)
1W hollow candlesticks
After an ATH (All-Time High), the US Dollar Index appears to be finding its first major support area, which occurs from the golden ratio of the Fibonacci Retracement sequence.
Two triangles are formed, two ascending triangles.
In the first triangle, the breakout will occur at the end of 2022.
Certainly from the new year, it is most likely to break the Resistance area, located at 103.650, as it will then enter the second smaller triangle.
Towards the end of 2023 or even earlier, seems to be the next support area, which is clearly seen by the extension of a second Fibonacci Retracement.
The point is that the dollar is starting to lose value, while the euro is gaining, as also Forex market is starting to lose ground.
That's for now.
Good luck.
#CryptoHellas Team
1W hollow candlesticks
After an ATH (All-Time High), the US Dollar Index appears to be finding its first major support area, which occurs from the golden ratio of the Fibonacci Retracement sequence.
Two triangles are formed, two ascending triangles.
In the first triangle, the breakout will occur at the end of 2022.
Certainly from the new year, it is most likely to break the Resistance area, located at 103.650, as it will then enter the second smaller triangle.
Towards the end of 2023 or even earlier, seems to be the next support area, which is clearly seen by the extension of a second Fibonacci Retracement.
The point is that the dollar is starting to lose value, while the euro is gaining, as also Forex market is starting to lose ground.
That's for now.
Good luck.
#CryptoHellas Team