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All Eyes on U.S. Dollar for Clues About Macro Landscape


The Dollar Index (DXY) has declined 3% since last Thursday, and in so doing, has sliced beneath its 13-month support line at 96.10, and has pressed below its 200-Day EMA (93.95) in route to a full-fledged test of 6-month support between 94.00 and 93.00.

A sustained breach of 93.15/00 in DXY will confirm the establishment of a major top in the U.S. Dollar, which will trigger an optimal, downside target in the vicinity of 87.00-86.00 in the hours/days ahead.

Should such a scenario unfold, I will be expecting buoyancy in the precious-metals sector, and very curious about the reaction of investors to U.S. Treasuries:

Will scared money flow into bonds amidst an acutely weak U.S. Dollar? Or, will U.S. rates actually back up within a weak dollar scenario?

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