Is the DXY in a long term downtrend?

DXY Downtrend

The 6 month candle chart suggests we could be in for at least two red quarters which would suggesting positive markets..... which seems contradictory to the current sentiment BUT not the current charts (S&P, NASDAQ,etc).

The weekly chart currently shows the critical resistance at $1.00 and we appear to be heading straight for it.

I genuinely think that given the 10 month SMA turning to the downside will act as resistance and the three tests of the underside support may puncture the resistance and lead to further downside.,

As always there are no guarantee's but the DXY chart in my opinion currently looks bearish long term.

I am currently looking at a time based analyses at the which will follow

Time will tell

PUKA OUT

Komentarz:

This is playing out as predicted, we are at that critical resistance level now. If we get a weekly close below it don't be surprised with more downside.

CPI could have been a catalyst today...but the chart led us long before it was released.
- US CPI YOY ACTUAL 3.0% (FORECAST 3.1%, PREVIOUS 4.0%)

Komentarz:

Dollar DXY

The dollar continues its decline and now lost weekly support level. The 6 month candle really told us all we needed to know long term.

Eyeing green circle

Komentarz:

Lets see how price reacts to the 10 month SMA on the weekly and then we can consider the bullish thesis, however I released a recent long term chart that might interest you on the DXY , please have a look.

Komentarz:

U.S. Dollar Index - DXY

IMO still on its way down...its just been taking its time about it.

▫️ Long wicks still pushing down the 6 month candles (Left Chart)
▫️ The resistance level on the right chart is a key level to watch.