Blake Morrow’s Chart of The Day – Forecast DXY
Forecast DXY
Regular listeners of the FACE webinars that happen every trading day, know that I am hesitant to turn outright “bearish” #USD unless the 94.50 level breaks. That level held today as the low was 94.66 on the US Dollar index. That is the previous breakout point (November 2021) and also the 61.8% Fibonacci retracement from the Oct 2021 lows to recent highs. While above that the risk for a bounce back towards the 95.00 level is the near term risk.
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