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DXY Index, falling below the downtrend channel...
The USD index recently topped and reversed, it was killing every other currency except the Russian Ruble! (fancy that huh!)
A new down-trend channel was formed and this was broken at the start of December 2022
Could be easy pair trades here on FX against the USD but possibly wait for a pullback and watch for the flip in direction, it's definitely hazardous markets right now!!!
Support possible around 103 with a previous trendline extension
BTC has kind of detached from the DXY for now also probably FTX has a lot to do with this for sure
Have a powerful rest of 2022 and see u in 2023, Merry Xmas and Happy New Year!
A new down-trend channel was formed and this was broken at the start of December 2022
Could be easy pair trades here on FX against the USD but possibly wait for a pullback and watch for the flip in direction, it's definitely hazardous markets right now!!!
Support possible around 103 with a previous trendline extension
BTC has kind of detached from the DXY for now also probably FTX has a lot to do with this for sure
Have a powerful rest of 2022 and see u in 2023, Merry Xmas and Happy New Year!
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