Another 48h - New Terrain Is Now Being Fought For In The DXY

2024/11/24
Another 48h - New Terrain Is Now Being Fought For In The DXY
“terrain between annual highs of 2023 & 2024 is now being fought for!
why is the terrain in focus? can this be justified plausibly explained?”



NVDA shares gained and lost three-digit billion amounts within a few minutes last week. The shares of MSTR whose business model mainly consists of BTC1! in accounting, rose by 15% in one day and then fell to -10%. While here in my home country Germany, our green economics minister Robert Habeck is causing the industrial collapse of an entire country, my home country Germany, with his energy transition. By making basic supplies, such as energy and food, more expensive, in keeping with the socialist tradition, organized by the state, which sooner or later more or less always leads the economy into stagflation, even recession. All of this is simply fantastic - as history shows. And why there are even greater fluctuations in price action, both upwards and downwards, in the financial market in the equally fantastic asset classes. In addition, last week there was an escalating war in Ukraine, in which the Russians have now struck with an extreme weapon for the first time. The world, in our so-called West, is becoming more and more fantastic - which is why many politicians and the media (especially left-wing liberal green ones, but also some right-wing conservative ones) are escalating because of the monetary materialistic reality. Because they previously imagined something in monetary terms and/or you deceived their voters, their audience. "Performative boasting that only costs their voters and their audience materially in monetary terms! That's why our so-called West is in danger of collapsing. And people love Trump, hate Trump - because he has politically maneuvered his way into exactly this monetary materialistic gap. Which explains his success - the absurd emotional escalation of his critics. Because he counteracts their politics, just like they did his before!", a friend of mine from the USA told me, on Saturday. It remains to be seen whether he will deliver? But I begrudge him, I begrudge the USA, and then also our so-called West, with all my heart. And that too as a friend of the East - but that's going too far at this point.

• Will We Fall Back In The W Trend Reversal Formation?
  
• Will We Defeat The Old Annual High Of 2024?
  
• Are We Heading To Annual Highs Of 2023?
  

These were the 3 most important questions regarding price action in DXY - and which could be answered with no, yes, yes, in the last week. Because in the first two trading days the price action had more or less fallen back to the level of the previous annual high of 2024 by the middle of the week, after the price action rose up, during the last week before. Since Wednesday, the DXY rose above the annual high of 2023 for the first time into the weekend - at least on Friday.

“On the abstract level, I have turned the belief in my own fallibility into the cornerstone of an elaborate philosophy. On a personal level, I am a very critical person who looks for defects in myself as well as in others. But, being so critical, I am also quite forgiving. I couldn't recognize my mistakes if I couldn't forgive myself. To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride. Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes.”
George Soros

• Who Will Takin` Over The Terrain Between The Annual Highs?
  

The price action between 107.348 points (Annual Year High 2023 from 2023/10/03) and/or 106.517 points (1st Annual Year High 2024 from 2024/04/16) are groundbreaking. Pathbreaking for this week, after the DXY closed with 107.490 points last weekend. Because a price action above would give the US bulls confirmation that the rally from the annual low in 2024 to more or less new annual highs in 2024 is continuing. While a price action below this should please the US bears again. And we must have to argue that all the price action of the last few days, the last few weeks, since the end of September 2024, is in danger of running out of steam. And we would have to assume a lower DXY .


108.071 : 2024/11/22 - Friday High, Last Week
107.490 : 2024/11/22 - last price action
107.156 : 2024/11/21 - Thursday High, Last Week
107.064 : 2024/11/14 - Last New Annual High 2024
107.015 : 2024/11/14 - Thursday High, Last Week Before
106.918 : 2024/11/20 - Wednesdays High, Last Week
106.903 : 2024/11/15 - Fridays High, Last Week Before
106.813 : 2024/11/18 - Mondays High, Last Week
106.632 : 2024/11/19 - Tuesdays High, Last Week
After the downward trend from the second to last calendar week was broken upwards in the middle of last calendar week, it should not be surprising if the US bulls slow down a little this week. In other words, the DXY comes down to the levels above. However, we shouldn't ignore the FOMC Minutes on Tuesday and/or the PCE Price Index YoY on Wednesday, this week - during this thanksgiving week.

108.071 : 2024/11/22 - Friday High, Last Week
107.490 : 2024/11/22 - last price action
106.924 : 2024/11/22 - Friday Low, Last Week
Was the poor figures from the Eurozone and/or Germany just a short-term flash in the pan? Even the depth of the economic crisis? Or just the beginning? The price action will show it up! In any case, it is a bad economic cocktail for the EURUSD - vice versa tends to be better for the DXY . Because of the self-organized left-wing liberal green economic politics here in my home country Germany the Germany Manufacturing PMI has been and will remain below 50 points since July 2022. Which corresponds to a tendentially recessive character. And it now seems to be dragging the Eurozone down with it; where the Euro Area Services PMI had also fallen below 50 points back again, on friday. Therefore, this week it is important to at least keep both the high and the low of the price action from last Friday in mind - even inclusive the terrain between the annual high of 2023 and/or 2024.


With best wishes
and with good intentions!
Aaron



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