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Friday, March 26, 2021

DXY bullish cross of the 200MA - Two Issues for the Market

DXY bullish cross of the 200MA - Two Issues for the Market

With a full candle close above the 200MA we are now headed back to a bull market for DXY and this affects two other markets: Forex and Stocks

Forex means that a stronger dollar vs EUR GBP JPN etc. So us goods will become more expensive and foreign goods will be cheaper (sans China).
With that us exports could drop. If we climb above some resistance lines at 94, 97, and 102.

Also a stronger dollar means a generally weaker stock market because us made products will decline on the international market. The real test will be the 50MA cross of the 200MA confirming the move the bull side which will probably happen (if trend continues) by mid to late april.

Trade Carefully



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