DXY Daily TA Cautiously Bullish
DXYUSD daily guidance is cautiously bullish. Recommended ratio: 70% DXY, 30% Cash.
*All markets reacted negatively to news of Chinese citizens protesting the Covid lockdowns in fear of more supply chain disruptions. The Pentagon is currently devising a proposal to send smaller precision bombs that can be fitted onto rockets and allow for Ukraine to strike behind Russian lines as the US and NATO military inventories are dwindling in response to a now 9-month constant bombardment by Russia on Ukraine. Russia's plan to destroy Ukraine's energy infrastructure to demoralize Ukrainian's during what is expected to be a very cold winter is reminiscent of The Holodomor (Great Famine) under Stalin in 1932-1933 when Russia ignored natural factors and enacted repressive policies that contributed to a massive decline in Ukraine grain and killed 3-5 million people as a result. It appears that Russia is also intentionally exhausting military supplies from NATO countries (US mainly); which could possibly hamper future US intervention during potential future altercations between China and Taiwan. Elon Musk is "waging war" against Apple after Apple decided to suspend advertising and is mulling the idea of removing Twitter from the App Store. Apple takes 30% of all sales within the App Store, so Twitter would only be seeing $5.60 of the $8 iPhone users would pay for a Blue-Check. BlockFi did what everyone expected and filed for Chapter 11 bankruptcy today.
DXY, Short-Term US Treasurys, US Equity Futures, EURUSD, GBPUSD, JPYUSD, Gold and VIX are up. Long-Term US Treasurys, US Equities, Cryptos, CNYUSD, NI225, HSI, N100, Energy and Agriculture are down.
Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14.*
Price is currently trending up at $106.66 after bouncing off of the 50MA at ~$105.35, the next resistance is at $108. Parabolic SAR flips bullish at $108.46, this margin is mildly bullish at the moment. RSI is currently trending up at 40.73 and is still technically testing 39.43 resistance. Stochastic remains bullish for a second consecutive session and is currently trending up at 38.83 as it approaches a test of 45.65 resistance. MACD remains bearish and is currently trending up at -1.28; it's still technically testing -1.21 support and if it can cross above -1.18 it would be a bullish crossover. ADX is currently trending up slightly at 26.85 as Price bounced off a critical support level (the 50MA), this is mildly bullish at the moment.
If Price is able to continue higher then it will likely retest $108 resistance. However, if Price falls back down here it will have another chance to formally retest the 50MA at ~$105.35 as support before potentially retesting $103.15 support for the first time since June 2022. Mental Stop Loss: (one close below) $105.35.
*All markets reacted negatively to news of Chinese citizens protesting the Covid lockdowns in fear of more supply chain disruptions. The Pentagon is currently devising a proposal to send smaller precision bombs that can be fitted onto rockets and allow for Ukraine to strike behind Russian lines as the US and NATO military inventories are dwindling in response to a now 9-month constant bombardment by Russia on Ukraine. Russia's plan to destroy Ukraine's energy infrastructure to demoralize Ukrainian's during what is expected to be a very cold winter is reminiscent of The Holodomor (Great Famine) under Stalin in 1932-1933 when Russia ignored natural factors and enacted repressive policies that contributed to a massive decline in Ukraine grain and killed 3-5 million people as a result. It appears that Russia is also intentionally exhausting military supplies from NATO countries (US mainly); which could possibly hamper future US intervention during potential future altercations between China and Taiwan. Elon Musk is "waging war" against Apple after Apple decided to suspend advertising and is mulling the idea of removing Twitter from the App Store. Apple takes 30% of all sales within the App Store, so Twitter would only be seeing $5.60 of the $8 iPhone users would pay for a Blue-Check. BlockFi did what everyone expected and filed for Chapter 11 bankruptcy today.
DXY, Short-Term US Treasurys, US Equity Futures, EURUSD, GBPUSD, JPYUSD, Gold and VIX are up. Long-Term US Treasurys, US Equities, Cryptos, CNYUSD, NI225, HSI, N100, Energy and Agriculture are down.
Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14.*
Price is currently trending up at $106.66 after bouncing off of the 50MA at ~$105.35, the next resistance is at $108. Parabolic SAR flips bullish at $108.46, this margin is mildly bullish at the moment. RSI is currently trending up at 40.73 and is still technically testing 39.43 resistance. Stochastic remains bullish for a second consecutive session and is currently trending up at 38.83 as it approaches a test of 45.65 resistance. MACD remains bearish and is currently trending up at -1.28; it's still technically testing -1.21 support and if it can cross above -1.18 it would be a bullish crossover. ADX is currently trending up slightly at 26.85 as Price bounced off a critical support level (the 50MA), this is mildly bullish at the moment.
If Price is able to continue higher then it will likely retest $108 resistance. However, if Price falls back down here it will have another chance to formally retest the 50MA at ~$105.35 as support before potentially retesting $103.15 support for the first time since June 2022. Mental Stop Loss: (one close below) $105.35.
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