Last week’s decline was the sharpest in four months and could conceivably come down to the 102.23 target shown, That would amount to an approximately 5% correction, entirely normal considering the steepness of the run-up from 100 to 107 that occurred between mid-July and November. A milder correction that reverses from p=104.79 would underscore the power of the renascent bull market begun from 90 in 2021. Wherever and whenever the pullback ends, upside potential thereupon would be to p=112.14 of this pattern most immediately, and to 124.70 ultimately. It is no exaggeration to suggest that a dollar at that height will have drastically altered the global economy and its fatally financialized infrastructure.
DXY – NYBOT Dollar Index (Last:105.06)
