DXY Monthly Looking For More Upside into 2023

The DXY monthly chart looks exceedingly close to how price action behaved during the internet bubble / dot-com era. Given how current macro economics are staged with the Fed looking to slow QT slightly into 2023, I am looking for a break above the trendline in the coming months to form the beginning of a macro top. The macro topping pattern should form a consolidation before breaking down and forming a deviation of the trendline, which equities and other risk-on assets should begin to see significant and more sustainable rallies beginning in late 2023-2024.

Even if we experience a small pullback on the DXY on lower time frames in the short-term, there is no reason to believe that the DXY has topped at this point on higher time frames.