DXY Head and Shoulder
Updated
whatever comes from this falling wedge, I don't expect DXY above 106 again this year... probably the wedge fails
what I do expect is DXY to break down.. if not immediately following todays economic data (which might be difficult for the market to process) then for the FOMC meeting
what I do expect is DXY to break down.. if not immediately following todays economic data (which might be difficult for the market to process) then for the FOMC meeting
Note
so far, it appears "difficult to process" is all I got right...ofc thursday is the big day we get our FOMC results... powell spoke last at end of Nov... markets can buoy on FOMC, and get the smackdown from Powell end of year, if necessary.
tradingview.com/news/reuters.com,2022:newsml_L1N33217I:0-hard-candy-christmas-soft-landing-hopes-fade-ahead-of-cpi-fed/
"It seems that as far as market participants are concerned, we might as well skip Monday, because everyone's focus is fixed on Tuesday and Wednesday.
That's when the Labor Department releases what is likely to be one of its most closely-watched consumer prices (CPI) reports ever, followed the next day by Powell & Co's interest rate decision."
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