DXY Roadmap Jan 2017
Aktualisiert
Surprise to most investors
Anmerkung
Shaky shaky thisAnmerkung
Entering period for potential reversal and final upleg into later 1Q. Lots of US data later this weekAnmerkung
There is a rising chance that DXY at best retests the high if not lower high after the expected reversal higher. February is very USD data heavy as we have FED meeting (no presser), FOMC minutes, and Yellen testimony (do not think is scheduled yet). I think later Feb is very suspicious for final high whether retest or lower high but will seeAnmerkung
BTW, this downleg could also be leading diagonal so if yes, then lower high. Quite debatableAnmerkung
First green reversal candleAnmerkung
More volatile basing work here. FED tomorrow and NFP FridayAnmerkung
FED not exactly hawkish. At this stage only a very, very strong NFP Friday or risk off event could support the USDAnmerkung
Quite orderly decline so far, it is getting really stretched on the downsideAnmerkung
There is a risk that the USD decline could spread over many years as this administration seems keen to support export oriented manufacturing base and gain advantage via FX. Trump seems like Nixon. So next several weeks appear to be critical for USD since USD top could come as early as this month via lower highAnmerkung
Clock is running on the last USD upleg underway, most likely few weeksAnmerkung
Weak, weak USD, countdown to FED 15 meeting
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