DXY Update Monthly TF Sept 28
The USD has been crushing the FX market & taking no prisoners along the way.
We've been talking about the need for a cool-off period to allow the RSI on various TFs recalibrate, and also give the risk-on assets a chance to bounce before the next bearish leg down.
Bearish case:
- Looking for DXY to cool-off to $108 - $111 allowing risk-on assets to bounce
Bullish case:
- Bull target #1 $118
- Bull target #2 $120 which was peak of the Dotcom bust for DXY
- Bull target #3 $130
- Bull target #4 $141
- Bull target #5 $146
- Bull target #6 160ish which was the 1985 peak with Volcker fighting inflation
- Bull target #7 new ATH @ 176ish
I am much more confident in the $120 - $140 range than anything above that, but wanted to point out where the DXY got to in the 80's.
Cheers
We've been talking about the need for a cool-off period to allow the RSI on various TFs recalibrate, and also give the risk-on assets a chance to bounce before the next bearish leg down.
Bearish case:
- Looking for DXY to cool-off to $108 - $111 allowing risk-on assets to bounce
Bullish case:
- Bull target #1 $118
- Bull target #2 $120 which was peak of the Dotcom bust for DXY
- Bull target #3 $130
- Bull target #4 $141
- Bull target #5 $146
- Bull target #6 160ish which was the 1985 peak with Volcker fighting inflation
- Bull target #7 new ATH @ 176ish
I am much more confident in the $120 - $140 range than anything above that, but wanted to point out where the DXY got to in the 80's.
Cheers
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