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Today i'm posting a small idea on the DXY. Usually i cover crypto but the macro is important. A weak dollar correlates with more risk being taken and a strong dollar with less risk being taken. Hence my analysis of the DXY.
In the above chart a couple of things can be seen which makes the outlook hard to predict.
On one side there is a bullflag on the monthly timeframe with a target of 130!
On the other side, looking under we can see a bearish MACD cross and a bearish stoch RSI. On average it takes half a year to a year for a cross like this to recover.
This causes me to be bearish on the dollar and bullish on risk-on assets.
Thanks for reading
Today i'm posting a small idea on the DXY. Usually i cover crypto but the macro is important. A weak dollar correlates with more risk being taken and a strong dollar with less risk being taken. Hence my analysis of the DXY.
In the above chart a couple of things can be seen which makes the outlook hard to predict.
On one side there is a bullflag on the monthly timeframe with a target of 130!
On the other side, looking under we can see a bearish MACD cross and a bearish stoch RSI. On average it takes half a year to a year for a cross like this to recover.
This causes me to be bearish on the dollar and bullish on risk-on assets.
Thanks for reading
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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.
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.