DXY top is in ?
solid white lines - multi year trend line
blue moving average line - 50 week MA
red moving average line - 200 week MA
pink moving average line - 128 week MA
It seems like the #DXY got rejected at the 618 fib retracement level.
As it is currently in a rising wedge pattern, if we break the wedge to downside, 95.13 will most like be temporary support, however:
Based on the macros, downside is pencil'ed in so we might get a minor bounce off 95.13 after which, if we retest 95.13, the DXY is going lower.
Higher oil prices in Dec and Jan leads to even higher inflation than what was printed for Dec.
Higher US wages leads to sticky, higher inflation.
blue moving average line - 50 week MA
red moving average line - 200 week MA
pink moving average line - 128 week MA
It seems like the #DXY got rejected at the 618 fib retracement level.
As it is currently in a rising wedge pattern, if we break the wedge to downside, 95.13 will most like be temporary support, however:
Based on the macros, downside is pencil'ed in so we might get a minor bounce off 95.13 after which, if we retest 95.13, the DXY is going lower.
Higher oil prices in Dec and Jan leads to even higher inflation than what was printed for Dec.
Higher US wages leads to sticky, higher inflation.
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