DXY , 'dollar index' follow hawkish fed ?!
Updated
HEY , what's up traders!?
What about DXY ? as we can see since 2008 it has been growing in a super uptrend channel till now, and also during 1yr ago it has had a significate rising , climbed all the way from 89.2 up to 107.78
but as We can observe that recently has reached the 0.786 of FIBO LVL and reacted , so now it can correct on the mid-line of channel (white line) or even drop on the lower fib lvl(50%) as the next support !
but take it mine the recession news and hawkish fed effecting can causes more rising for dxy index, but in this case I also expect at least a pullback to lower level after reaching the higher trend line of channel ,
however it may aim to complete the dollar smile in the long term!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
What about DXY ? as we can see since 2008 it has been growing in a super uptrend channel till now, and also during 1yr ago it has had a significate rising , climbed all the way from 89.2 up to 107.78
but as We can observe that recently has reached the 0.786 of FIBO LVL and reacted , so now it can correct on the mid-line of channel (white line) or even drop on the lower fib lvl(50%) as the next support !
but take it mine the recession news and hawkish fed effecting can causes more rising for dxy index, but in this case I also expect at least a pullback to lower level after reaching the higher trend line of channel ,
however it may aim to complete the dollar smile in the long term!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
Note
' lower fib lvl (61.8%) not 50%
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.