I think that the US dollar will continue to rise and if you look on the chart it looks like we have broken out of a pennant or flag of some sort.
We will be reaching the bull extension on the Fibonacci retracement I pulled.
This would make sense if rate hikes are going to continue and also coincides with a lot of peoples view that bitcoin and maybe even equities will continue to slide.
The only opposing view that I have is that I believe that bonds may see some relief -- so, perhaps we see consolidation before another leg up(?)
but this is a long-term view forecasting that the dollar some point will see higher.
Happy Trading
We will be reaching the bull extension on the Fibonacci retracement I pulled.
This would make sense if rate hikes are going to continue and also coincides with a lot of peoples view that bitcoin and maybe even equities will continue to slide.
The only opposing view that I have is that I believe that bonds may see some relief -- so, perhaps we see consolidation before another leg up(?)
but this is a long-term view forecasting that the dollar some point will see higher.
Happy Trading
