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24/01/22

14:15

Post #: 59090793
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Originally posted by Iryna-Bella: ↑

The US dollar index bounced off support on Friday which weighed on precious metals, commodities and notably the cryptos.Support continues to be formidable for the US dollar at the key 94.3 level. I am bearish looking out over the rest of the year for the US dollar, but the recovery rally may yet have further legs to run and ground to recapture on the topside.However, I do have conviction that the rally to the topside will wane and lose momentum at the 98 level, where resistance is significant.
Time will soon tell, but the US dollar may not make a new weekly high much above 97 in which case the greenback could quickly reassert to the downside. Fundamentals are not looking great for the US dollar despite widening interest rate differentials with the RoW

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interesting

Netflix mentioned the same thing in their last report where they downgraded their forecast cos of a strengthening US Dollar which makes no sense fundamentally.
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