The US Dollar #DXY has has broken upwards, on US retail sales coming in higher than forecast, announced just now.
The U.S. Dollar Index (#DXY) rose, after the #employmentrate announcement
If this rise is confirmed and continues it could be a bad thing for the price of assets with a negative correlation to the dollar such as #Bitcoin
Most traders think they can handle the dollar trade, but once loss on loss (large magenta dots) selling begins, it takes a while for a base to form before it can rally. Last time this loss selling happened was in Feb 2016 and the bottom wasn't in until after Feb 2018.
@ImportedLemur $1650 is local resistance, so it shouldn't be too far off.
Plus, #DXY looks like it may want to top a bit.
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#geopolitics #fedwatch #podcast #markets #china #Price #DXY
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#ProducerPriceIndex #BTCprice #Bitcoin #Dollar #PPI #DXY
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