π§΅Me & @opsec_crypto with our take on $DXY future price projection
We are chatting a lot lately & here are both of our takes, and we basically came to an agreement
The only potential difference is about how high this pullback goes
Here is @opsec_crypto view with quotes π
1/9
We are chatting a lot lately & here are both of our takes, and we basically came to an agreement
The only potential difference is about how high this pullback goes
Here is @opsec_crypto view with quotes π
1/9
Here is mine:
After all the hiking this year where $DXY came on top it has reached its 20-year-long supply zone confluent with the top of the uprising channel.
I was talking about this zone for a while and here came the strong reaction
2/
After all the hiking this year where $DXY came on top it has reached its 20-year-long supply zone confluent with the top of the uprising channel.
I was talking about this zone for a while and here came the strong reaction
2/
Zooming in we can see there was a clear break of the parabola that started post covid printing in the expectations of aggressive rate hikes.
Clear broken trend
3/
Clear broken trend
3/
Zooming in even more after the initial impulsive trend break we can expect some retracement from the current demand zone to chill a little
This is where me & @opsec_crypto see two possible outcomes
He sees us retracing towards 108,5-109 while I could see 111
4/
This is where me & @opsec_crypto see two possible outcomes
He sees us retracing towards 108,5-109 while I could see 111
4/
A lot of times when there is a trend break, the market tends to come back & take out traders that put their stop just above/below the high/low where the trend was broken
In this case 111
While I can see us also rejecting from the 109 area I'm also prepared for higher
5/
In this case 111
While I can see us also rejecting from the 109 area I'm also prepared for higher
5/
In any case, these are the two zones to watch PA around and look for weakness
After which, we come to an agreement and see a lower prices to follow
That is the moment to go big on risk-on assets as $DXY undergoes complacency bounce
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After which, we come to an agreement and see a lower prices to follow
That is the moment to go big on risk-on assets as $DXY undergoes complacency bounce
6/
Macroeconomic data helps here too.
My projection since summer was that we will see declining CPI which is the main indication for Central Bankers' planning
We are getting just that and the projection for 2023 is further CPI declining
7/
My projection since summer was that we will see declining CPI which is the main indication for Central Bankers' planning
We are getting just that and the projection for 2023 is further CPI declining
7/
With that, we can expect the #FED to be less restrictive towards the economy and start to "pivot"
But by any means we expect that to be quick
More like, we are behind the fastest growth period and are starting to get to a peak, estimated around 5% fed funds rate
8/
But by any means we expect that to be quick
More like, we are behind the fastest growth period and are starting to get to a peak, estimated around 5% fed funds rate
8/
With that outlook, we should be getting a good opportunity ahead of the fact and be prepared for it & ready to act
Hope u liked our overview of $DXY, if so please consider to like & share. Thank you ππ
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Hope u liked our overview of $DXY, if so please consider to like & share. Thank you ππ
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