2 day Time frame update of Quarterly DXY chart below....
DXY shown here with macro harmonics, contrasted with historic Fed Funds rate. Arrows indicate BTC cycle lows put in well below prior DXY peaks, and serves a small dose of balancing hopium in an otherwise bearish market.
Fractal is taken loosely from the circled areas, with the suggested path involving consolidation in the 115/117- 105/8 range into next year.
Hypothesis: as developed nations step in to intervene to prop up their currencies, by tightening ( central bank rate hikes like we are seeing from BOE and Swedish Central Bank in the last week) and potentially tapping into their long end US Treasury reserves to purchase dollars ad buy back their own currency, as late last week's BOJ intervention suggests, DXY will consolidate but ultimately break up into the 119-low 120's before some cooling off.
Noteworthy technical macro ascending channel with 4-5 confirming touches which we are now closely approaching. With S&P P/E rations in the 18's we may start to see sidelined institutional investors start to enter the market at the 15-17 mark, as at this juncture with real negative rates dominating financial conditions, equities begin to service portfolios as a hedge against inflation.
***Harmonics are merely noteworthy phenomena, and not intended or regarded by myself as predictive of future price movements in any way.
DXY shown here with macro harmonics, contrasted with historic Fed Funds rate. Arrows indicate BTC cycle lows put in well below prior DXY peaks, and serves a small dose of balancing hopium in an otherwise bearish market.
Fractal is taken loosely from the circled areas, with the suggested path involving consolidation in the 115/117- 105/8 range into next year.
Hypothesis: as developed nations step in to intervene to prop up their currencies, by tightening ( central bank rate hikes like we are seeing from BOE and Swedish Central Bank in the last week) and potentially tapping into their long end US Treasury reserves to purchase dollars ad buy back their own currency, as late last week's BOJ intervention suggests, DXY will consolidate but ultimately break up into the 119-low 120's before some cooling off.
Noteworthy technical macro ascending channel with 4-5 confirming touches which we are now closely approaching. With S&P P/E rations in the 18's we may start to see sidelined institutional investors start to enter the market at the 15-17 mark, as at this juncture with real negative rates dominating financial conditions, equities begin to service portfolios as a hedge against inflation.
***Harmonics are merely noteworthy phenomena, and not intended or regarded by myself as predictive of future price movements in any way.