26/08/2022
Dollar Index TA (Technical analysis)👇
Dxy 1M Chart
Weekly Bearish POI has mitigated fully and should see sell moves that could officially take US economy into a RECESSION.(red arrow)
It could also be a minor few days dip after which price will regain bulls and head to next upper bearish POI.(green arrow)
Dxy Daily Chart
Possible formation of "double top" predictive analysis at the weekly POI zone. A strong indication that smart monies could easily manipulate price into sell mode for US Dollar.
It all boils down to upcoming fundamentals from Friday's news event (15GMT)
My opinion:
Dxy has a higher chance of going bearish since it has fully mitigated bearish weekly POI + the weak US data predictive reports for august.
Pairs that has "usd" as quote could gain bullish strengths while Pairs with "usd" as base could gain bearish strengths.
Until news are out...my bias:
80% bearish prediction for Usdjpy,Usdcad etc
80% bullish prediction for gbpusd,btcusd etc
Focus more on your smart money TA📝
Remember to REACT and not PREDICT when trading✅