A good time to update the weekly chart in DXY, I am looking for a meaningful devaluation in Dollar via Fed intervention for Q4. Trump unequivocally has to devalue the Dollar as it becomes crunch time for Equities. The late cycle backdrop with weaker growth and higher inflation is increasing uncertainty around the macro argument and with that look for opportunities...
Here we are tracking the Monthly chart in Dollar from an Elliot Wave perspective; after 15 years of the previous bullish USD cycle we are reaching the end of the road. To put simply, we are tracking NFP for any early confirmations that the current retrace leg (wave 2) has finished. For the Weekly we have two simple flows to track; On the Macro side we...
Here we are tracking Dollar sitting at key resistance between 97.5 - 97.7. This is an ABC target from a sequence that started in March. Bulls will need to get above 97.7 to confirm a break, till then I see scope for one final move to the downside. This is a counter trend trade so I would only recommend taking if you know exactly how to manoeuvre in this...