DXY is heading for another downturn

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Central banks around the world are rapidly raising interest rates, while at the same time the US fed is showing hints that it will slow down interest rate hikes. This means that USD will be less valuable since there are more and more currencies that offers more than the dollar.

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ملاحظة

DXY has double bottomed. And it looks like a falling wedge in 1H timeframe. I believe this is the bottom for now, it might rally until ~109 range.

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ملاحظة

All I can say is DXY is trolling everyone. :D