DXY The 1W MA50 holds the key.
On the first quarter of the year, I've published the following posts. One was a research on DXY's tendency to 3 year cycles and how it has entered a new one, and the other how under certain circumstances, the current bottom resembles that of 2018:
It appears that the U.S. Dollar Index is attempting a repeat of the 2018 - 2020 Cycle as this week has posted an incredible green 1W candle that is at the moment slightly above the 1W MA50 (blue trend-line). In 2018, when DXY closed a weekly candle above the MA50, it started a sustainable rise (in the form of a Channel Up) towards the Highs of the COVID outbreak.
In my opinion it is all about the closing of the 1W candle. Do you agree?
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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It appears that the U.S. Dollar Index is attempting a repeat of the 2018 - 2020 Cycle as this week has posted an incredible green 1W candle that is at the moment slightly above the 1W MA50 (blue trend-line). In 2018, when DXY closed a weekly candle above the MA50, it started a sustainable rise (in the form of a Channel Up) towards the Highs of the COVID outbreak.
In my opinion it is all about the closing of the 1W candle. Do you agree?
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> mused_Aurorah
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.