With the USD M1 money stock going from 4.1 trillion in March 2020 to 18.1 trillion currently, and Biden planning an additional 6 trillion spending bill, things are not looking good for the Dollar Currency Index. Moreover, Russia and China aggressively moving their reserves out of USD is bad news for the DXY as well.
On the technical side of things, the monthly EMA Bands have decisively flipped bearish and with the double rejection from the 50 monthly EMA, further downside from DXY can be expected in the coming months.
On the technical side of things, the monthly EMA Bands have decisively flipped bearish and with the double rejection from the 50 monthly EMA, further downside from DXY can be expected in the coming months.