One of the most interesting charts I've been looking at this week is the U.S. Dollar Index. This literally, tracks the rate of inflation in the U.S., or as we see it in trading, the strength of the dollar. Sometimes USD being too strong can be bad too. This is called inflation. What we've experienced throughout 2021 and 2022 is a period of hyperinflation.
Many analysts and news sources are saying the top is in right now and the Federal Reserve won't hike rates anymore. This is their way of "combatting inflation." In actuality and through studies done by world renowned monetary policy boards, it actually has little or no affect whatsoever.
So I watch the DXY every day to see how it's interacting with past resistance and support levels. Right now, on the 4-hour we're about to move up. I've noted several new resistance zones it will have to break through to continue its move up and we could potentially double top, but it might not come down just yet.
This will affect the price of all asset classes, Indiscriminately. Do you think we've hit peak inflation?
Many analysts and news sources are saying the top is in right now and the Federal Reserve won't hike rates anymore. This is their way of "combatting inflation." In actuality and through studies done by world renowned monetary policy boards, it actually has little or no affect whatsoever.
So I watch the DXY every day to see how it's interacting with past resistance and support levels. Right now, on the 4-hour we're about to move up. I've noted several new resistance zones it will have to break through to continue its move up and we could potentially double top, but it might not come down just yet.
This will affect the price of all asset classes, Indiscriminately. Do you think we've hit peak inflation?
