I'm still expecting the bullish pullback (to around 106), or full reversal confirmation on DXY.
This looks like it could be a bull flag to me... If it is, I'll be expecting a breakout soon, or a retracement back to 102.4 (0.5 fib of this impulse) and then up and out, either way 'up'.
With Gold falling as it is and AUD failing to move much after positive fundamentals, this also makes me more bullish on USD atm.
I think USD is ready for a move back up, how far it goes will depend on fundamentals... I think if all economies get on top of inflation and taper rate hikes, I think this will be the start of a full reversal that will exceed last years high, obvs a lot will depend on who starts cutting rates first...
Key pairs I'm watching are GBPUSD / EURUSD / AUDUSD / USDJPY and Gold.
Let's see what happens.
This looks like it could be a bull flag to me... If it is, I'll be expecting a breakout soon, or a retracement back to 102.4 (0.5 fib of this impulse) and then up and out, either way 'up'.
With Gold falling as it is and AUD failing to move much after positive fundamentals, this also makes me more bullish on USD atm.
I think USD is ready for a move back up, how far it goes will depend on fundamentals... I think if all economies get on top of inflation and taper rate hikes, I think this will be the start of a full reversal that will exceed last years high, obvs a lot will depend on who starts cutting rates first...
Key pairs I'm watching are GBPUSD / EURUSD / AUDUSD / USDJPY and Gold.
Let's see what happens.