DXY might influence every risky market
Updated
According to the macro indexes during last months, FED increase interest rate and profit of ten years bond yield.
so it's obvious that the inflation still a big problem for US and world economy.
next week more inflation indexes would be published and declare that high risk market enter a winter or fiat shows a little weakness.
technically DXY is in a trading range for more than a month and if it continue, next week it would be reach the lower band of parallel channel which I declare in the PIC.
this parallel channel have been valid since may 2021!!!
I believe more probable scenario is that DXY increase until contact with the resistance(97.79) , in such a case stock and crypto market might face another short bounce, then
DXY finally shows weakness and decreasing.
both stochastic and RSI indicators are in the middle.
so it's obvious that the inflation still a big problem for US and world economy.
next week more inflation indexes would be published and declare that high risk market enter a winter or fiat shows a little weakness.
technically DXY is in a trading range for more than a month and if it continue, next week it would be reach the lower band of parallel channel which I declare in the PIC.
this parallel channel have been valid since may 2021!!!
I believe more probable scenario is that DXY increase until contact with the resistance(97.79) , in such a case stock and crypto market might face another short bounce, then
DXY finally shows weakness and decreasing.
both stochastic and RSI indicators are in the middle.
Note
still in the uptrend parallel channel but after reaching the 97.8, index might start to dump and face the support levels.I believe DXY might show weakness for several days and it would be a fake out after that the index try to test the resistance
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.