Wed, Oct 05, 2022 @ 16:09 GMT
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DXY Approaching 110 Level – Elliott Wave forecast

The USD remains strong as inflation in US remains the primary issue. Speculators believe FED will have to be more aggressive so USD is breaking to a new high while stocks are coming down into support. However, stocks are not in a very strong sharp sell-off, so I am wondering if maybe the market figured out that FED cannot do much with this hawkish policy? We will see, but technically speaking the DXY is moving into a resistance, currently in a fifth wave that can slow down at 109/110 area.

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