DXY versus Fed Funds rate and PMIs
DXY shown here with macro harmonics, contrasted with historic Fed Funds rate and US PMIs.
Fractal is taken loosesly for the circled areas, with the suggested path involving consolidation in the 115- 105 range.
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.
***Harmonics are merely noteworthy phenomena, and not intended or regarded by myself as predictive of future price movements in any way.
Fractal is taken loosesly for the circled areas, with the suggested path involving consolidation in the 115- 105 range.
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.
***Harmonics are merely noteworthy phenomena, and not intended or regarded by myself as predictive of future price movements in any way.
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