We can conclude from the charts that..:

- Capital inflows to the USD are very strong in terms of momentum, and we haven’t reached the first layer of targets yet, based on longer-term channel work.
- This trend could last for several months at least, well entered into next year (Targets on monthly charts are pointing to July 2023).
- Right now there is no sign of a potential reversal, although retracements are to be accounted for and could be violent. We can infer this from the speed (the momentum) the market has exhibited since the summer of 2021, and the gaps it is leaving behind in the price structure.
- A pause in the trend will emerge when other assets start competing against the USD, namely US stocks, some commodities , and cryptocurrencies. We can see this already by looking at those markets priced in global terms, that is by indexing them in a basket of currencies. Their revival will surely take some wind off the dollar sails. But this is material for another episode.

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