Since March 2020, DXY declines all the way to 89.2, where is the measured target. The Weekly Chart is clearly shown a 5 waves movement. Furthermore, DXY is now too far away from the 60 weeks moving average together with momentum turning upward. Last week DXY open interest stroke another high means there is plenty of position that can be squeezed out. If a 0.236 Fibonacci rebound, it will reach 92.48. a 0.386 fibo rebound will reach 94.49.
Since DXY has declined 10 months, it is very logical for DXY to rebound for more than 2-3 months.
The messy US presidential inauguration might trigger a safe heaven rebound of the DXY. Besides, US treasury yield is rebound too. US-German 10 yield bond yield rose for 6 months; it is due for DXY to make a meaningful rebound.
If the truth were ruined, the confidence of USD would be gone from now. Mr. President Trump, it's your responsibility to let everyone know what's the truth is. If you think it's not enough for a few days to do the mission, please do it in the next four years.
Since DXY has declined 10 months, it is very logical for DXY to rebound for more than 2-3 months.
The messy US presidential inauguration might trigger a safe heaven rebound of the DXY. Besides, US treasury yield is rebound too. US-German 10 yield bond yield rose for 6 months; it is due for DXY to make a meaningful rebound.
If the truth were ruined, the confidence of USD would be gone from now. Mr. President Trump, it's your responsibility to let everyone know what's the truth is. If you think it's not enough for a few days to do the mission, please do it in the next four years.