U.S. Dollar Index (DXY) Reaches Long-Term Resistance - BitcoinEthereumNews.com
TeknolohiyaAng US Dollar Index (DXY) ay Umabot sa Pangmatagalang Paglaban04 / 30 / 2022Balita ng Ethereum ng Bitcoin The U.S. Dollar Index, which has experienced rapid growth in recent weeks, has reached long-term resistance. Much depends on the DXYs further movements, not only in the broad financial sector, but also in the Bitcoin and cryptocurrency markets. A rise in the U.S. Dollar Index is often a signal of uncertainty and fear in financial markets. Moreover, the DXY has a long-term negative correlation with the price of Bitcoin and the cryptocurrency market. The latest releases of quarterly reports from major U.S. companies came in below expectations. Then, investors continue to take into account the unstable global situation with the war in Ukraine and the ongoing threat of COVID-19 pandemic in China. Tumataas na inflation in Western countries and rising mga rate ng interes are additional factors that signal the danger of a recession. All of this creates an ideal environment for liquid cash, so the DXY rises are no surprise. Until when will they last? Will the long-term resistance the dollar has just faced end its rise and trigger a rebound in the financial markets? Bullish DXY reaches long-term resistance On April 29, the U.S. Dollar Index