DXY hit the 1D MA20 for the first time since June 2021!

28 нояб. 2022 г.

To be exact the last time the U.S. Dollar Index (DXY) hit its 1D MA200 (orange trend-line) was on June 23 2021 and last time it traded below it June 16 2021. Needless to say, this is a key development for the long-term price action, as a candle closing below it, confirms the transition from a long-term bearish trend to a bullish one.

So far since the November 03 High, the price seems to be trading within a very aggressive Channel Down. As long as it holds and 1D MA200 breaks, we expect a sharp fall to the 2.786 Fibonacci extension (100.200). If the price breaks above the Channel Down, we expect a counter trend rebound, short-lived, to the 1D MA100 (green trend-line) and the 1D MA50 (blue trend-line) to be tested as Resistance levels.

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