King Dollar trying to wake up after a 10% correction from highsThe Dollar has been in a steady decline since topping out in October, however, the looks of that decline could be finally turning.
Bulls are trying to show some signs of life down here to kick off the new year.
Currently holding a long position for a trade looking for higher.
Dxylong
BACK the $$DOLLAR hedge against the BRICSWith Croatia becoming the latest addition to the BRICS
as of yesterday , 2023 isn't looking like much of a thing to celebrate for the Dollar.
it reminds me of my ex-girlfriend after i finally was done with all her prison like rules over the years.
did i enjoy part of our relationship, yeah maybe? ,but was it fair to me? absolutely f*n not. so here we are!
disgruntled, angry , and of-course we decided we needed something new.
Russia being the biggest instigator ,in collusion with China just like my 2 best friends , Roman and Charles their zeal to get me out of
my previous hell was met with charming delight. brazil ,india the supportive friends adding up my gang of 5 with south africa being the guy who
always comes late but makes us order a beer for them each time.
Creation of new BRICS recognizable currency will indeed cripple the dollar dominance its had over the global sphere the last 20-30 years.
power dynamics at play here ,these nations want some power back to themselves just like i did when my ex-D had me by the ropes ,especially with Taiwan-China relations and as well as Russia-Ukraine war during the course of last year , the need for control has escalated and these super powers feel the need to exercise their influence to gain more strategic overhead .
What these super powers don't know is that the US who in this case would be my ex-D , has so many options and you could argue that i have them too but her options weigh far much better than mine, i mean she's a damsel ,who would resist her in her favorite green dress. her control has spread to all parts of my brain , she fed me , protected me ,gave me all i wanted only problem is ,she took more than she gave and that right there is where we might find the problem , i trust her with my life ,heck everybody i know does too .
with inflation at peak , CPI will be most certainly be cut , she's so attractive she will have to be supported during this tough break up we in , ''recession'' it's called .
stimulation will be at a max and she will raise from the asses that am sure of, strong and independent she is.
buy D ,bye D shit i might have drunk alot
DXY going to perform classic chart pattern and correction
I think it is time for DXY to perform another top and confirm it’s double top for a mid term correction, if It falls more than it supply area around 89 then we should see more falling down. But according to overall fundamentals and technical analysis it is not something that we would like to see.
Anyway, I think another bull move to 111 is necessary and maybe a bit more than last high (around 114) to face divergence in RSI and then start its falling down correction for more than 4 to 6 months.
#DXY - Bull Divergence Building - Long SetupThe DXY is nearing a crossover 0 value on the Detrended Price Oscillator.
Bull divergence is present on the DPO
The Stochastic 34 fib lookback is oversold and refueled for launch.
Stop loss/Trail stop either use DPO crossunder 0 value, DPO crossunder bull divergence support line, or use the (TS) support line on the price action chart. Good luck
Excellent entry because we have such a tight stop loss minimizing exposure
DXY, Return and start growthDaily: The upward Falling Wedge pattern is successfully broken and starts a short-term growth. We also see a very strong positive divergence .
Upcoming targets: 105.650, 106.850 and 107.700
In the weekly time, a Pinbar candle has been formed, which can start a very strong upward trend. Hawkish Powell's words will also make the upward trend stronger.
So next week, we will see good growth.
Good luck.
DXYThe dollar index looks long to me. We have corrected to a strong level of 103-104, from which I expect reactions with minimal targets in the form of 109.
The rhetoric of the Fed and the US government is restraining, their task now is to blow off the bubble and reduce the momentum, but do not forget that a lot of money is needed to fight China and support Ukraine in the war against Russia, I think next year we will see the launch of a typewriter. The dollar will strengthen until we see the launch of the printing press
GBPUSD REVERSED AT MAJOR 50% FIB AFTER FAKE BREAKOUT TO SELL ??GU managed to reverse after giving fake breakthrough of 50 on fib which is what made me change my bias from original sell to a buy. Now back to original bias of sell. High risk on this one as the false breakout put account down a little . If trade goes right i will make losses back plus some. Should be looking at sells for the next few months/all of next year if all is right or until DXY reaches its top channel