Joelthebowl

US dollar index facing key support line!

Corto
TVC:DXY   Índice del dólar de EE. UU.
The DXY has broken down from of a bearish ascending wedge. Looking to test the .618 Fib retracement level. If we break below this, the next support level at the .786 Fib level at about $81.5.

If this happens, Equities will likely remain in an uptrend, particularly commodities. Gold is normally in this category, but due to central bank manipulation I would say it is in its own category (silver also). Real rates are key to watch to determine which way gold is heading. At the moment, Real rates are negative. Should we see higher CPI (inflation) prints and nominal rates stay around current levels, real rates will continue to head lower.

Not investment advice* Do your own research ! Happy trading

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