The Dollar Index (DXY) finds itself stretching towards the top of the current trading channel, eyeing the 107 mark. While this channel top is foreseen as a limiting factor in the future, the immediate trajectory for DXY hints at a stretch towards 107 before a possible retrace to the channel bottom.
Key Observations:
1. Targeting 107: DXY is progressing towards 107, post which, a descent to the red box at the channel's bottom (between 97 and 93) aligned with the 50-period Moving Average (MA) on the 3-month chart is expected.
2. Fisher Indicator: A crucial retest of the channel to meet the 55 MA/EMA is highlighted by the Fisher Indicator, verifying the trend's sustainability.
3. Pullback Needed: Despite the run, the stretched outlook on daily and weekly charts suggests a necessary pullback to at least 104, aiming for a retest of the 50-week MA.
4. ABCDE Corrective Pattern: If this phase represents the D in an ABCDE corrective pattern, the 50-month MA on the 3-month chart could help pinpoint our E.
5. Risk Assets Opportunity: As DXY nears its peak around 107, a window of opportunity opens for risk-on assets like BTC, stocks, etc., indicating a favorable period for entry.
6. Golden Cross at 103.1: This critical level needs to hold, albeit, in the short term, it's likely to continue straining risk-on assets, orchestrating a market strangle.
(Note: Thorough personal analysis and risk management are crucial before making any trading or investment decisions.)
Key Observations:
1. Targeting 107: DXY is progressing towards 107, post which, a descent to the red box at the channel's bottom (between 97 and 93) aligned with the 50-period Moving Average (MA) on the 3-month chart is expected.
2. Fisher Indicator: A crucial retest of the channel to meet the 55 MA/EMA is highlighted by the Fisher Indicator, verifying the trend's sustainability.
3. Pullback Needed: Despite the run, the stretched outlook on daily and weekly charts suggests a necessary pullback to at least 104, aiming for a retest of the 50-week MA.
4. ABCDE Corrective Pattern: If this phase represents the D in an ABCDE corrective pattern, the 50-month MA on the 3-month chart could help pinpoint our E.
5. Risk Assets Opportunity: As DXY nears its peak around 107, a window of opportunity opens for risk-on assets like BTC, stocks, etc., indicating a favorable period for entry.
6. Golden Cross at 103.1: This critical level needs to hold, albeit, in the short term, it's likely to continue straining risk-on assets, orchestrating a market strangle.
(Note: Thorough personal analysis and risk management are crucial before making any trading or investment decisions.)
Trade active:
107 won't be easy to get over and create support there. Until then.
Risk assets dips can be bought.
Risk assets dips can be bought.
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