Hello my Fellow TraderZ,
Currently this is the most important chart most of the traders eyeing upon - #DXY.
#DXY - an index containing the graphical representation of the strength of $USD against major currencies of the World.
We can see the #DXY is enjoying the Parabolic Blow off phase after making DOUBLE BOTTOM in JUNE 2021.
Now , after breaking certain important levels, it is approaching towards MONTHLY level of 120 after Dotcom Bubble in 2001.
As I can see we could possibly have two scenarios to play in the coming days :
1. GREEN - here #DXY will continue its path to 120 giving more pain to Equity markets.
2. RED - here I'm assuming this one to play (anticipating FED's soft behavior towards Rates' Hike), then we could see a retracement towards the 102 allowing Equities to enjoy relief rally in 3-5 months following a major crash globally which could possibly lead to mark the Cycle BOTTOM.
NOTE : - Not a Financial Advice, just my speculation.
CHEERS!!!
Currently this is the most important chart most of the traders eyeing upon - #DXY.
#DXY - an index containing the graphical representation of the strength of $USD against major currencies of the World.
We can see the #DXY is enjoying the Parabolic Blow off phase after making DOUBLE BOTTOM in JUNE 2021.
Now , after breaking certain important levels, it is approaching towards MONTHLY level of 120 after Dotcom Bubble in 2001.
As I can see we could possibly have two scenarios to play in the coming days :
1. GREEN - here #DXY will continue its path to 120 giving more pain to Equity markets.
2. RED - here I'm assuming this one to play (anticipating FED's soft behavior towards Rates' Hike), then we could see a retracement towards the 102 allowing Equities to enjoy relief rally in 3-5 months following a major crash globally which could possibly lead to mark the Cycle BOTTOM.
NOTE : - Not a Financial Advice, just my speculation.
CHEERS!!!
