I do not expect DXY (Dollar Index) to rise above the $110 level.
The reason for this is the risk of the American economy going into recession as a result of high interest rate hikes.
Inflation caused by supply and supply problems cannot be solved with interest rate hikes.
The current weather in the market; If inflation stays high, the Fed will do anything to bring it down.
This opinion will soon change. Inflation disturbs price stability, but unemployed workers can ruin everything.
From this point of view, it may be healthier to evaluate DXY and Aud/Usd. Knowing the content of DXY (Dollar Index) may help us in the evaluation.
Euro (EUR) 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP) 11.9% weight
Canadian dollar (CAD) 9.1% weight
Swedish krona (SEK) 4.2% weight
Swiss franc (CHF) 3.6% weight
DXY
We are likely to see a downward correction from the $110 level. The next critical level is $120. If we interpret the rise according to the elliot wave pattern, we are in the 5th wave. The target of the double bottom chart formation is $120. But the FED will decide when the decline will begin.
The reason for this is the risk of the American economy going into recession as a result of high interest rate hikes.
Inflation caused by supply and supply problems cannot be solved with interest rate hikes.
The current weather in the market; If inflation stays high, the Fed will do anything to bring it down.
This opinion will soon change. Inflation disturbs price stability, but unemployed workers can ruin everything.
From this point of view, it may be healthier to evaluate DXY and Aud/Usd. Knowing the content of DXY (Dollar Index) may help us in the evaluation.
Euro (EUR) 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP) 11.9% weight
Canadian dollar (CAD) 9.1% weight
Swedish krona (SEK) 4.2% weight
Swiss franc (CHF) 3.6% weight
DXY
We are likely to see a downward correction from the $110 level. The next critical level is $120. If we interpret the rise according to the elliot wave pattern, we are in the 5th wave. The target of the double bottom chart formation is $120. But the FED will decide when the decline will begin.
