The last week DXY movement fulfilled my idea which I predicted price to hit the key level at 105.8
For the past 13 -14 weeks, the DXY has been on an ascending trend from 99.23 to 105.756. The current resistance has been a key level since 1st December 2022.
Price is currently reacting on a resistance trendline of the main ascending channel since 26th September 2022.
The resistance trendline coincides with the 105.834 key resistance which has historically driven the DXY down.
The DXY could initiate a BEARISH WAVE first to 103.100 to retest the Daily EMA-200 & 50.
The FED could consider a rate hike in the last quarter of 2023 in the midst of a possible DXY bearish waves.
For the past 13 -14 weeks, the DXY has been on an ascending trend from 99.23 to 105.756. The current resistance has been a key level since 1st December 2022.
Price is currently reacting on a resistance trendline of the main ascending channel since 26th September 2022.
The resistance trendline coincides with the 105.834 key resistance which has historically driven the DXY down.
The DXY could initiate a BEARISH WAVE first to 103.100 to retest the Daily EMA-200 & 50.
The FED could consider a rate hike in the last quarter of 2023 in the midst of a possible DXY bearish waves.
