DXY Seems Likely to Show Some Mid-Term Strength

7 mar

DXY has pulled back a lot as US bonds have ripped to the upside, however it would appear that the Yields may be setting up for a short term bottom which would result in the DXY coming back up. This would align with the Euro coming back down, but I'm not convinced the move up in DXY will be long-lasting, however I do think it will be notable enough to initiate some Bearish Reversals in Gold, BTC and the SPX and the completion of a potential Bullish 5-0 on the Euro which would take it to the 50-61.8% retrace down at around $1.08, before continuing to the upside.