Dxy will go high of price breaks out the daily downtrend
🔰 Name : DXY
🔰 Time Frame : Daily
🔰 Scale Type : Long Scale
🔰 Direction : SHORT/SELL
The price has once again reached the daily up ceiling of a downtrend channel, and we are closely monitoring the daily closure for further confirmation of breaking out or rejection after daily/ 4H Closure
The strength of correlation between forex pairs and commodities with the U.S. Dollar Index (DXY) can vary over time, as it depends on various factors such as economic conditions, market sentiment, and global events. However, historically, some forex pairs and commodities have shown a strong correlation with the DXY. Here are a few examples:
Forex Pairs:
EUR/USD: The euro has an inverse correlation with the DXY. When the DXY strengthens, the EUR/USD tends to weaken, and vice versa.
GBP/USD: The British pound also has an inverse correlation with the DXY. A stronger DXY often leads to a weaker GBP/USD, and vice versa.
USD/JPY: The Japanese yen typically has a positive correlation with the DXY. When the DXY strengthens, USD/JPY tends to rise, and vice versa.
Commodities:
Gold: Gold is often negatively correlated with the DXY. When the DXY strengthens, the price of gold tends to decline, and vice versa.
Crude Oil: Crude oil prices can have an inverse correlation with the DXY. A stronger DXY can put downward pressure on oil prices, and vice versa.
Copper: Copper prices may exhibit a positive correlation with the DXY. When the DXY strengthens, copper prices may rise, and vice versa.
It's important to note that correlations can change over time, and it's recommended to analyze current market conditions and factors influencing specific currency pairs or commodities before making trading decisions.
🔰 Time Frame : Daily
🔰 Scale Type : Long Scale
🔰 Direction : SHORT/SELL
The price has once again reached the daily up ceiling of a downtrend channel, and we are closely monitoring the daily closure for further confirmation of breaking out or rejection after daily/ 4H Closure
The strength of correlation between forex pairs and commodities with the U.S. Dollar Index (DXY) can vary over time, as it depends on various factors such as economic conditions, market sentiment, and global events. However, historically, some forex pairs and commodities have shown a strong correlation with the DXY. Here are a few examples:
Forex Pairs:
EUR/USD: The euro has an inverse correlation with the DXY. When the DXY strengthens, the EUR/USD tends to weaken, and vice versa.
GBP/USD: The British pound also has an inverse correlation with the DXY. A stronger DXY often leads to a weaker GBP/USD, and vice versa.
USD/JPY: The Japanese yen typically has a positive correlation with the DXY. When the DXY strengthens, USD/JPY tends to rise, and vice versa.
Commodities:
Gold: Gold is often negatively correlated with the DXY. When the DXY strengthens, the price of gold tends to decline, and vice versa.
Crude Oil: Crude oil prices can have an inverse correlation with the DXY. A stronger DXY can put downward pressure on oil prices, and vice versa.
Copper: Copper prices may exhibit a positive correlation with the DXY. When the DXY strengthens, copper prices may rise, and vice versa.
It's important to note that correlations can change over time, and it's recommended to analyze current market conditions and factors influencing specific currency pairs or commodities before making trading decisions.
Trade ativo
Nota
🚨🗞The market is currently anticipating the American Session and Mr. Powell's testimony, which is scheduled to take place in 2 hours. As a result, USD pairs are currently experiencing a period of consolidation or ranging movement.Nota
DXY will breaking out!Nota
DXY broke out!Trade fechado: objetivo atingido
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.