The USD is buying and selling larger, about we have now been warning for the entire of January as we noticed the market coming larger right into a corrective section (click on right here). Additionally, this view was then supported by sturdy NFP and better US inflation CPI report final week, so the market has to do a repricing as speculators perhaps went too far with their expectation of cuts from the FED for this 12 months. Nicely, dx is coming larger properly, however in C wave of a corrective restoration so remember that nonetheless later this month we may even see a brand new reversal decrease. However in fact, we should watch out and affected person earlier than calling any new high for the USD index. Resistance is at 104.
Grega