DXY - Bullish Long-Term View
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As my previous analysis on DXY went straight to the target with no hesitation (check the linked analysis below for reference), I have a new Bullish Bias for the USD ( DXY ).
We have relatively equal highs on the DXY which price seems to be aiming for.
We could get some retracements lower in the process of running to these highs, but overall I want to see price mitigate and sweep these Highs.
The bottom of my chart shows the 10y T-Note. T-Note and DXY are oppositely correlated, meaning that when one should go up, the other should go down.
The red line on the T-Note chart is equal lows. I'm definitely seeing T-Note run down to and through these lows - which should push DXY higher.
Seasonal Tendency: The strongest seasonal tendency for DXY each year occurs from 1. May - 1. June historically. Therefore we can use this as another confluence to expect a Bullish Month upcoming on DXY .
(See the linked image below for Seasonality)
If DXY should go UP, Foreign Currency will go DOWN ( GBPUSD / EURUSD etc...).
So having a long-term bullish outlook on DXY will then give us a long-term bias for foreign currencies.
Knowing what the DXY is doing is crucial for your understanding of price and expectations for the pairs you trade, and therefore DXY analysis should be mandatory when you analyze your forex charts.
Technically and Fundamentally, we should see DXY go Higher. and T-Note to go Lower.
Let's see... :)
Seasonality: (check the rings for the month of May)
https://www.tradingview.com/x/qAc5JmOn/
We have relatively equal highs on the DXY which price seems to be aiming for.
We could get some retracements lower in the process of running to these highs, but overall I want to see price mitigate and sweep these Highs.
The bottom of my chart shows the 10y T-Note. T-Note and DXY are oppositely correlated, meaning that when one should go up, the other should go down.
The red line on the T-Note chart is equal lows. I'm definitely seeing T-Note run down to and through these lows - which should push DXY higher.
Seasonal Tendency: The strongest seasonal tendency for DXY each year occurs from 1. May - 1. June historically. Therefore we can use this as another confluence to expect a Bullish Month upcoming on DXY .
(See the linked image below for Seasonality)
If DXY should go UP, Foreign Currency will go DOWN ( GBPUSD / EURUSD etc...).
So having a long-term bullish outlook on DXY will then give us a long-term bias for foreign currencies.
Knowing what the DXY is doing is crucial for your understanding of price and expectations for the pairs you trade, and therefore DXY analysis should be mandatory when you analyze your forex charts.
Technically and Fundamentally, we should see DXY go Higher. and T-Note to go Lower.
Let's see... :)
Seasonality: (check the rings for the month of May)
https://www.tradingview.com/x/qAc5JmOn/
Trade chiuso: obiettivo raggiunto
+ 4000 Pips BABYNota
I hope you capitalized !!Nota
Next target for DXY:106.000
Lets make it happen...
Nota
UpDATE:106.000 Smashed...
Nota
Next Target:121.000 + sweep above
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