DXY: Bottoming?
I've been watching this supply zone for a few weeks now, and it seems like DXY is bottoming out here. Political unrest in the Middle East and interest rate cuts seems to be the catalyst for this move. Markets may go risk-off in the short term. Cash is going to be king for a bit.
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While I still think DXY will continue up for a while (until we see interest rates come down and QE begin), we might get a small pull back at the MAs here. The RSI Bollinger Band is overheated and we could see a rally in equities as DXY cools off for a bit.
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Still moving up! Might reach the resistance zone before it stops.
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We are closing in on the resistance zone with the major push from the Trump win. Let's see what happens next.
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We have officially broken into the resistance zone! I expect sell-offs in equities as long as we are trending upwards on the DXY. I am not sure if we'll break above the resistance zone. If we do, then we will have a much bigger capitulation in markets. If we see it drop back down again, then we will most likely rally in equities.
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