DXY - Long Term Forecast, it's just a beginning ?
Double top was formed on the time frame monthly. Currently DXY still move on all EMA-weekly and may reaching it's bullish trend to the next potential resistancy at 106.96 as panic buying USD still in rush during pandemic, which suppose to be Gold as the priority asset to be bought during crisis. Potential Broadening triangle is not completed yet, possibility another "spike leg" may happen before continuing to go down. According to the current chart, DXY still struggling to break the line of the major downtrendline time frame monhtly. Will it happen during the pandemic ? or just a camouflage and a BIG IMPULSIVE MOVEMENT suddenly present just like 1987 ( Black monday ) starting by this year ??? as "infinity stimulus" has been signed during pandemic.
R1: 103.78 (Double top was formed here)
R2: 106.96 (Re-test the resistance area)
R3: 111.85 (Potential last resistance/ Bull trap area ??)
Please note: this just an opinion and. not considering as financial advise. Disclaimer on!
R1: 103.78 (Double top was formed here)
R2: 106.96 (Re-test the resistance area)
R3: 111.85 (Potential last resistance/ Bull trap area ??)
Please note: this just an opinion and. not considering as financial advise. Disclaimer on!
Disclaimer
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