It's All About the BASE - DXY $94 by end of Jan 2021
The US dollar as represented by DXY has reached critical support (more evident on quarterly chart), and will now being to squeeze upwards. Directional change in dxy usually happens around political catalysts and I believe the bottoming of DXY here lines up a little too perfectly around inauguration. We're targeting $94 by the end of Jan 2021.
Further confirmation of this can be seen in TLT and BTC. TLT has also reached LT support and has been trading within a tight channel, which it should move out of in the next 2 weeks.
BTC usually tops where DXY bottoms. And it has been on a historic run as of late.
Every major index has topped, uvxy has found support at ~10.8ish and should squeeze out of it's descending triangle soon. Targeting $40 by January 8.
Enjoy! (
Further confirmation of this can be seen in TLT and BTC. TLT has also reached LT support and has been trading within a tight channel, which it should move out of in the next 2 weeks.
BTC usually tops where DXY bottoms. And it has been on a historic run as of late.
Every major index has topped, uvxy has found support at ~10.8ish and should squeeze out of it's descending triangle soon. Targeting $40 by January 8.
Enjoy! (