Dollar crawling up to face monthly resistance
Monthly chart of Dollar index suggesting further upside. DXY bounced off 0.5 Fib with precision, broke 0.382 and now closed above 0.236 with a strong weekly candle. Retest of 102-103.5 is imminent in my view.
* Consider US stock market topping behavior as of late, strong dollar would push stocks and commodities under more pressure.
Although this is temporary knowing that falling US Stock market would force FED to cut interest rates sharply.. Inflation kicks in and dollar tanks to Great recession lows.
* Consider US stock market topping behavior as of late, strong dollar would push stocks and commodities under more pressure.
Although this is temporary knowing that falling US Stock market would force FED to cut interest rates sharply.. Inflation kicks in and dollar tanks to Great recession lows.
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