Decision Time in FX, EURUSD to 95 cents

The dollar is now enterting a final resistance area before challenging March 2020 lows.

EUO chould hit $36 on a breakout, which would mean EURUSD is around 95 cents.

The yen already broke a 40-year downtrend, the euro broke a 20-year support line, and the yen is now threatening to break out of a 20-year inverted H&S pattern. The Fed hasn't even started its QT yet. I can buy the argument of frontrunning, but inflation hasn't come down yet. What is going to make the Fed stop their policy in the next few weeks? If there isn't some massive traumatic event that triggers a U-turn in Fed policy, then my expectation here is for continuation. The yen and euro will accelerate their depreciations.

If this all escalates into something much larger over the next 12 to 18 montths, the stretch target on DXY is 155.