Yesterday the DXY came right into support of both the 1.0 Fibonacci extension and the wave iv of one lesser degree. I would anticipate over the course of the next six months, the dollar will rally in its wave 5 possibly to $115.50 as high as the $122 level.
What the implications are to the US indices, Crypto, etc...I will not comment. Economically I would assume the stock market would not like that. However, I do believe this chart portends that interest rates will continue to rise into the first half of 2023 at the very least. Maybe towards the end of summer the Fed pauses rate hikes. I can only speculate on the catalysts, events, etc what the aftermath could be....however, what does appear clear is DXY may be about to go on a tear once again.
Go to ewtdaily.com for DETAILED DAILY UPDATES on this ticker, and get a 7-day FREE trial on updates on 27 unique tickers.
Frånsägelse av ansvar
Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.