DXY stands for Dollar strength, compared against a basket of 6 major currency of the world, of which weights of GBP & EUR when combined accounts for ~70%.
It essentially means when DXY rises, its rising against GBP, Euro.
Historically after most of the major financial events in the world, be it (2008 financial crisis, 2014 Russian financial crisis / Chinese Stock market selloff, 2020 covid-19 Crash). DXY was spotted nearing the support of Rising channel, each time as marked by Green arrows.
Point of attention
Currently DXY is at support of rising channel and getting ready for yet another probable peak by ~2029.
Effects of Rising DXY could be devastating in many ways, If we put is simply, it's like every single trading asset's that are quoted in USD will loose it's value (Gold, Silver, Crude, Forex pairs quoted in USD).
FX pairs with USD as their Base currency can see a rally or at-least bullish biasness for the next few years.
For Educational Purposes only, Not an Investment Advice
Any new perspective you want to share, feel free to mention below in the comment.
Regards CrazyTrades247,
It essentially means when DXY rises, its rising against GBP, Euro.
Historically after most of the major financial events in the world, be it (2008 financial crisis, 2014 Russian financial crisis / Chinese Stock market selloff, 2020 covid-19 Crash). DXY was spotted nearing the support of Rising channel, each time as marked by Green arrows.
Point of attention
Currently DXY is at support of rising channel and getting ready for yet another probable peak by ~2029.
Effects of Rising DXY could be devastating in many ways, If we put is simply, it's like every single trading asset's that are quoted in USD will loose it's value (Gold, Silver, Crude, Forex pairs quoted in USD).
FX pairs with USD as their Base currency can see a rally or at-least bullish biasness for the next few years.
For Educational Purposes only, Not an Investment Advice
Any new perspective you want to share, feel free to mention below in the comment.
Regards CrazyTrades247,
トレード稼働中
Price has successfully broken the resistance and has started to move in upward direction, after taking support of the lower boundary of Rising channel.
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t.me/CrazyTrades247_FX_International
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Join Telegram Channels for more Trades ideas 🧿
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。