Here's my amateur T/A on the US dollarBack in February 2019 the USDX was at 88-90 ...In about 18 months (summer of 2020) it peaked at about 103 ish.....It then only took about 6 or 7 months for the USDX to crash back down to the 90 level in February of 2021..It then rallied to about 93 ish in the next 2 months but returned back down to 90 in summer of 2021...So it double bottomed by summer 2021 and then went on a 15 month rampage to top out at almost 115 in October 2022....
If these trading patterns continue unchanged then we should see the USDX give up all it's gains from 90 to 115 within 6 or 7 months from the October/2022 115 top....
This would mean that the USDX should drop to 90 by April or May /2023...
Maybe the USDX will bounce for a month in May /23 but then should begin to slide downwards even more until it hits 80 possibly by the end of 2023. .
Gold should explode higher this year if the USDX continues it's slide this year...
Right now, the USDX is rallying but I think it will be very short-lived and will meet a brick wall at 105 even if it gets there at all...Maybe if it hits 105 it might have a bull trap to 105.5 but that's it.. Gold could drop a little more but it will rebound very quickly..Maybe gold won't even drop anymore even if USDX keeps going up temporarily..
This is all my personal opinion, so we will see what happens...Take what I say with a grain of salt.
But the key thing to remember is that it takes a much shorter time for the USDX to crash back down to previous lows than it takes for it to rally to new highs...If the USDX is to crater, it's going to happen fairly quickly...