Dollar index DXY - Everything collapses because of this!

19 сент. 2022 г.

• Except for DXY, everything is falling apart because everyone is selling their assets and buying dollars instead as a safe haven! Traders usually also need USD to open short positions on futures and speculate on price decreases.
  
• The dollar index is incredibly strong and this trend should continue for another few years. According to my analysis and to this chart, 2025 seems like a reasonable year for a trend reversal of this ticker.
  
• Keep in mind that this is the monthly chart for DXY and the price is printing a massive parallel channel on the linear scale and also on the log scale as well.
  
• As per my Elliott Wave analysis, we are currently in the strongest third wave and I expect to touch the upper trendline of the parallel channel before we can experience a corrective fourth wave. After that, the 5th wave will come into play, and we can definitely throw over the parallel channel and find resistance at the previous swing high from 2001.
  
• The DXY is a great indicator for traders and everyone should keep an eye on it. Interest rates are going up, and this is a negative indicator for the stock market.
  
• Look at my ideas about Gold and Bitcoin in the related section down below.
  
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