HomeContributorsTechnical AnalysisDollar (Safe-Haven) Can Jump to 108 If Geopolitical Tensions Will Expand

Dollar (Safe-Haven) Can Jump to 108 If Geopolitical Tensions Will Expand

Dollar remains strong, likely looking for more upside after the broken channel. Ideally, the fifth wave will lift price back to October highs while stocks in US are sideways, and even bearish in Europe, with DAX pointing back to the lows. Keep in mind that drop on DXY hourly chart has been clear in three wavs, and now price is also recovering above the channel resistance, so that’s a bullish pattern in Elliott wave terms, so looks like investors may stay continue to look for safe-havens, like USD, in line with higher gold, and crude due to geopplitical tensions. These moves can even extend and become more volatile if war expands with Iran joining the war.

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