Chart of the Day – DXY – (January 3rd, 2022)
The DXY had a strong day to start the year and it is threatening with a break higher after a 3 month move lower.
The DXY had a strong day to start the year and it is threatening with a break higher after a 3 month move lower.
Following the FED, gold initially stalled and then turned lower from the ascending wedge’s T/L resistance and is about to break down from here.
The 10Y Us Yields have been pulling back since toping back in October at 4.33% but are they about to rebound from current levels?
Crude oil closed last week at a key confluence of supports ~$77, while completing a double top target.
Gold is testing the key confluence of resistances at $1680.
Following the FOMC decision, the USDJPY naturally looked poised to appreciate and it would have probably produced a legitimate breakout if it wasn’t for an intervention on behalf of the MoF of Japan.