Line In The Sand
UPDATE 11:44am EDT: I’m about to grab breakfast but wanted to share this chart with you since many rats are jumping into FX related trades:
This is a major line in the sand for the DXY – if we breach it then further upside (and much of it) is almost assured. Admittedly, the count on this sucker has been difficult as of late – no wonder when we have Big Ben spend hundreds of Billions buying the medium/long end of the treasury market.
Anyway, set an alert and if it gets hit just roll with it.