Thoughts on the USD
The DXY is approaching a ket level of resistance. The Fed is clearly a dove in a hawks disguise right now. They cannot crater the equity markets by rapidly increasing interest rates so they are choosing their words carefully. The Fed will likely increase rates 4 times this year, but they do it slow and steadily. I believe the DXY is overvalued and could be due for a crash when tapering takes place. The dollar is weak. Bitcoin is ready to replace.
- T-1 seems likely after CPI news tomorrow
- Expecting 7% or more
- T-2 seems if T-1 is hit
- Confidence will swoon in the dollar, triggering further sell-off
- T-3 is likely during March (if interest rates increase)
Good Luck,
- Mr. Bitcoin Baron
- T-1 seems likely after CPI news tomorrow
- Expecting 7% or more
- T-2 seems if T-1 is hit
- Confidence will swoon in the dollar, triggering further sell-off
- T-3 is likely during March (if interest rates increase)
Good Luck,
- Mr. Bitcoin Baron
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.