💾 U.S. Dollar Index Bearish Monthly Chart

16 Apr 2023

Let's give another look at DXY.

The U.S. Dollar Index moved below EMA10 on the downside Dec. 2022 for the first time since June 2020.

Moving below this indicator is a bearish signal and always leads to a correction.

Last month EMA10 confirmed as resistance; A rejection happened on the way up and this is followed by a break below EMA21 this month.

The RSI produced a strong 8 year long bearish divergence and is now trending lower.

This is a long-term chart and gives a clear picture.

The U.S. Dollar Index (DXY) going down

People reach all sorts of conclusions based on this.
DXY going down on the long-term timeframe, Bitcoin going up on the long-term timeframe...

Please share your own correlation with other markets.

The daily timeframe agrees based on Elliot Wave theory!

💾 DXY | U.S. Dollar Index

Namaste.