USD (DYX) boinks target #2

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  • Post category:Currencies

US dollar hits resistance at 96

Uncle Buck need not rally anymore, but if the yield curve steepens under pains of deflation (I know, I know… impossible, right?) it will probably go there and beyond.

Objective #3 at the 62% Fib is the final upside target we’ve been carrying for the majority of 2021. As stated, Unc need not go there as he has already poked into the Inverted H&S pattern’s measured target zone in what has thus far been an ongoing divergence to the inflation trades of 2021.

If USD fails here or at one of these viable termination points? I would think it’d be a tail wind for the inflation trades, but in this dysfunctional (read: over-stimulated, over-managed by policy) market who the hell knows for sure? It’ll probably pay to keep an eye on the silver/gold ratio or if you like, gold/silver, which are still inconclusive at this time but laying in wait as major bull (inflationary) or bear (deflationary) indicators that will aid or impair Uncle Buck in his efforts to wreck the macro.

us dollar, dxy

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