DXY Path into FOMC
What we know:
- The DXY is in a corrective structure from the highs in September.
- The 1974 High's were tested as Support with a weak bounce.
- Next Support would be the multi-decade median ~108.00
*The DXY may continue it's strength to 117-120 with any unexpected rate hikes or political catalyst.
*Otherwise, should hikes be .75bps expecting markets to react rather bullish for risk with an early volatile week but a lower high being formed ~112 before further correction downwards to 108.
**Earnings release this week could affect investor sentiment, pay attention.
- The DXY is in a corrective structure from the highs in September.
- The 1974 High's were tested as Support with a weak bounce.
- Next Support would be the multi-decade median ~108.00
*The DXY may continue it's strength to 117-120 with any unexpected rate hikes or political catalyst.
*Otherwise, should hikes be .75bps expecting markets to react rather bullish for risk with an early volatile week but a lower high being formed ~112 before further correction downwards to 108.
**Earnings release this week could affect investor sentiment, pay attention.
History doesn’t repeat itself, but it does travel in cycles.
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