A good time to update the DXY chart ahead of today's ECB. Those following in the Telegram will know I have been increasingly wary over recent months of the maturing 10-year USD bull market finally coming to a close.
With this said let's start with our long-term macro chartbook:
In this context we can comfortably lean on long-term macro forces in play, a major USD top is necessary to keep global growth afloat and is already in play versus EUR:
The confirmation of the technical breakdown in red above is impulsive and favours the USD moving into a major top. Timing wise, late Q3 / early Q4 is perfect and will have a huge impact for macro flows.
After the breakdown of 97.8x we are starting to head into support for a micro 4th wave correction bounce. Looking at the impulsive breakdown, this pullback should be sold and more breakdowns are coming...
For those in AUD it is also very clear the double bottom lows:
Best of luck all those in DXY and USD crosses .... jump in with your charts and comments to open the conversation for all.
Thanks!
With this said let's start with our long-term macro chartbook:
In this context we can comfortably lean on long-term macro forces in play, a major USD top is necessary to keep global growth afloat and is already in play versus EUR:
The confirmation of the technical breakdown in red above is impulsive and favours the USD moving into a major top. Timing wise, late Q3 / early Q4 is perfect and will have a huge impact for macro flows.
After the breakdown of 97.8x we are starting to head into support for a micro 4th wave correction bounce. Looking at the impulsive breakdown, this pullback should be sold and more breakdowns are coming...
For those in AUD it is also very clear the double bottom lows:
Best of luck all those in DXY and USD crosses .... jump in with your charts and comments to open the conversation for all.
Thanks!
評論:
