- June 18, 2021
- Posted by: Tradingshot Articles
- Category: Forex
On the first quarter of the year, I’ve published the following posts. One was a research on DXY’s tendency to 3 year cycles and how it has entered a new one, and the other how under certain circumstances, the current bottom resembles that of 2018:
It appears that the U.S. Dollar Index is attempting a repeat of the 2018 – 2020 Cycle as this week has posted an incredible green 1W candle that is at the moment slightly above the 1W MA50 (blue trend-line). In 2018, when DXY closed a weekly candle above the MA50, it started a sustainable rise (in the form of a Channel Up) towards the Highs of the COVID outbreak.
In my opinion it is all about the closing of the 1W candle. Do you agree?