#DXY #EURUSD Futures chart for the Dollar and Euro index over the past 7 years (5days)
The global review of the Dollar Index from mid-September has practically worked itself out, and the price of DXY has returned to the High Value Node of the entire range from the beginning of 2015. As a rule, at this level we can expect a long consolidation, the ranges of which are still difficult to determine, but we can assume that the center of this range will be the level of $96.68-97.28 (at this level it is better to refrain from entering midterm trades). For the Euro, this center is the 1.121-1.33 level. That is, all investors and traders whose longs turned out to be much higher are most likely trapped for a long time. From the point of view of seasonality, statistically, the midpoint of the period from November to January is a reversal for the Euro and the Dollar Index. So, there is a high probability that we have come or are somewhere close to some kind of "rebound" in currencies, but most likely the price action will be quite choppy with low volatility/ While the Dollar Index is entering correction or consolidation, other markets may cool down a little from the pressure and continue or resume their bullish trends.
The global review of the Dollar Index from mid-September has practically worked itself out, and the price of DXY has returned to the High Value Node of the entire range from the beginning of 2015. As a rule, at this level we can expect a long consolidation, the ranges of which are still difficult to determine, but we can assume that the center of this range will be the level of $96.68-97.28 (at this level it is better to refrain from entering midterm trades). For the Euro, this center is the 1.121-1.33 level. That is, all investors and traders whose longs turned out to be much higher are most likely trapped for a long time. From the point of view of seasonality, statistically, the midpoint of the period from November to January is a reversal for the Euro and the Dollar Index. So, there is a high probability that we have come or are somewhere close to some kind of "rebound" in currencies, but most likely the price action will be quite choppy with low volatility/ While the Dollar Index is entering correction or consolidation, other markets may cool down a little from the pressure and continue or resume their bullish trends.