This is the dollar strength at the 8 hour view.
The DXY may have formed a possible double bottom pattern... for now. I wouldn't bet my money on it.
The DXY is at a decision point right now. Either the dollar bounces from that double bottom and towards the middle or top of the downward channel or crash through a long-term support (blue line).
However, if the dollar bounces hard, the ultimate trajectory is downwards. It's been in a downward channel since April 2020 with no end in sight.
I'm waiting on the dollar to make that decision so I can determine when to enter into gold or silver. The best scenario? The dollar bounces hard to about 94-95. That would provide a good enough pullback in gold and silver. Thus, that may provide an optimal entry point for precious metals before the dollar resumes its downfall.
The DXY may have formed a possible double bottom pattern... for now. I wouldn't bet my money on it.
The DXY is at a decision point right now. Either the dollar bounces from that double bottom and towards the middle or top of the downward channel or crash through a long-term support (blue line).
However, if the dollar bounces hard, the ultimate trajectory is downwards. It's been in a downward channel since April 2020 with no end in sight.
I'm waiting on the dollar to make that decision so I can determine when to enter into gold or silver. The best scenario? The dollar bounces hard to about 94-95. That would provide a good enough pullback in gold and silver. Thus, that may provide an optimal entry point for precious metals before the dollar resumes its downfall.
Nota
I don't know why that blue line shifted lower at the 8 hour view, but it's perfect at the 1 hour view...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.