DXY short Analysis - But why do need it?

Hello Traders !

Nice moves on the DXY . Like predicted the price went massively up.

The question now is if we will see a big drop? Yes in my view. Also we got a nice weekly close.

We are now at a weekly resistance/supply area. From here I expect the price to drop . My target is the weekly support level .

... but ...

Why do we need to analyze the DXY?
Actually I like to have a look on the DXY because of the Correlation. So the DXY is nice to use when we are trading XAUUSD , EURUSD , AUDUSD , GBPUSD . Usually when the DXY goes up, the mentioned pairs will go down.

That was my Idea and I hope you did like it. Please leave a LIKE if you like my Content that I share with you. In the comment section you can tell my your view and ask questions.

Thank you and we will see next time
- Darius.