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InvestMate|DXY Declines Before IncreasesđŸ’”

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Valutaindex för U.S. dollar (TVC:DXY)  
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TVC:DXY   Valutaindex för U.S. dollar
Trend Analysis Chart Patterns Fundamental Analysis DXY dollar index short Contains image
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trendanalysis chartpattern fundamental dxy dollar index short containsimage
đŸ’”DXY Declines Before Increases

đŸ’”Looking at how the dollar has behaved in recent days, it is not difficult to get the impression that we have not exhausted the full downside potential.

đŸ’”We have stopped at the first support zone.

đŸ’”I think we can stay between the nearest supports for a while.

đŸ’”Everything currently points to a continuation of the declines.

đŸ’”But I would be very careful, at any time we are eventually able to make an upward correction.

đŸ’”The support zone we are currently on was determined by the level of the 0.236 level of the entire upward wave from the 2008 bottom to the 2022 peak.

đŸ’”The lower support zone was determined on the basis of the downward wave from the 1969 peak to the 1978 bottom.

đŸ’”The resistance zone that is above us was determined by the 0.681 level of the entire downward wave from the 1969 peak to the 1978 bottom.

đŸ’”The scenario I am playing out is a slight descent between the support zones and waiting for the upside to start, to the vicinity of the resistance zones. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

đŸ’”*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
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