Been watching the DXY closely for a few months now as i mainly trade Bitcoin and its heavily pegged to the strength of the USD mainly from global arbitrage.
I was expecting a huge retrace on BTC when the DXY started to recover from those V bottoms but it quickly got shot down again when the US markets started to recover.
BTC went on a run and hit close to 14k, and now we are starting to see a second recovery on the DXY.
I know this thing will probably still play buggery up to the US election but its no denying this is a heavy contributor to the movement of a number of global traded safe haven asset closes like gold silver bitcoin and other commodities.
A mass recovery on the DXY could see some other markets really bleed down hard so im watching a few for some short entries but will the recovery be short lived leading to the election???
Im tipping towards around 96 before we see a halt and a breather for world markets for now but will follow it up in a week.
I was expecting a huge retrace on BTC when the DXY started to recover from those V bottoms but it quickly got shot down again when the US markets started to recover.
BTC went on a run and hit close to 14k, and now we are starting to see a second recovery on the DXY.
I know this thing will probably still play buggery up to the US election but its no denying this is a heavy contributor to the movement of a number of global traded safe haven asset closes like gold silver bitcoin and other commodities.
A mass recovery on the DXY could see some other markets really bleed down hard so im watching a few for some short entries but will the recovery be short lived leading to the election???
Im tipping towards around 96 before we see a halt and a breather for world markets for now but will follow it up in a week.