The DXY has broken under it's 200 day moving average which is of course a bearish signal but is this the start of a new trend, are we about to start a downtrend in earnest? Or are just going to test the bottom of this long running channel from the beginning of this year.
I think the answer depends on whether or not the Fed's "NotQE" has done enough to resolve the global dollar liquidity crisis. My instinct here is thinking this is a knee jerk move down because of the Fed's "NotQE" and we'll be climbing back over the 200dma soon just as we did in June but time will tell...
I think the answer depends on whether or not the Fed's "NotQE" has done enough to resolve the global dollar liquidity crisis. My instinct here is thinking this is a knee jerk move down because of the Fed's "NotQE" and we'll be climbing back over the 200dma soon just as we did in June but time will tell...