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DXY: The Ship is Slowly Sinking

Atualizado
For the time being, I think the DXY is bound to go lower.

  • The RSI support line since December 2020 has broken
  • Bearish divergence on the weekly (from May to September 2022)
  • Consecutive lower highs
  • Parabolic trend is broken


At this point, the only way I'd be bullish on the DXY is if it makes a new high above 114.77.
Nota
On the hourly chart, DXY broke down from the rising wedge.

snapshot
Nota
Quick update after today's movement. DXY dumped and recovered quickly due to today's FOMC announcement. However, DXY still has a few major resistances that it would need to break in order for it to be bullish.

Both the upper trend line AND the shaded red box need to be broken through for me to change my mind about my idea. Until that happens, I remain bearish.

snapshot
Nota
Another bearish day for the DXY. strong rejection at the top of the channel. Retracement down to the bottom of the channel is possible.

snapshot
Nota
Oh, and by the way, look at that weekly candle for DXY. Looks bearish to me...

snapshot
Nota
20-week MA is breaking down. Looks pretty bearish to me.

snapshot
Nota
Flag pattern on the daily also starting to break down.

snapshot
Nota
Support levels to watch for DXY.

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DXYdxyindexTrend Analysis

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