DXY - Long term outlook
The DXY has spectacularly smashed through all short term levels. This will be of extreme concern for Trump and US Treasury. A stronger USD will beget more strength unless the Fed and Treasury intervene. This will make it harder for US to fight its Trade War, trigger a US recession and increase unemployment. It also makes it harder than otherwise for the Govt to finance deficits.
I expect political action to weaken the USD either by way of increased (even further) fiscal spending or currency intervention.
Watch for levels of technical resistance in the indicated areas and follow the news.
I expect political action to weaken the USD either by way of increased (even further) fiscal spending or currency intervention.
Watch for levels of technical resistance in the indicated areas and follow the news.
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