The U.S. dollar index has experienced a lot of upside since Sept. 30. In my last update I discussed the $104 resistance zone as a key price level for DXY to start trending back down. So far DXY continues to show bullish momentum into resistance. I would like to see DXY experience a pullback in this resistance zone. A strong DXY is not good for financial markets, it can lead to a selloff in crypto and stocks. So a decline in DXY here would be favorable for the financial markets. It is important to point out that DXY, crypto, and stocks have been rising together, which is not adding up. A lot of other data is not adding up either, especially correlations to economic data.
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