JinDao_Tai

DXY consolidating, but watch out for the next move!!

Long
TVC:DXY   Indice devise Dollar U.S.
Anticipate higher volatility in the DXY today with the US Congressional Elections due. However, this news event is unlikely to cause a significant change in the longer-term trend.

As the DXY trades along the 110.35 price level, look for a possible rebound on the DXY. If the DXY trades above the 110.70 price level, the price could continue higher toward the next resistance level of 111.77.

Be prepared for the major news on the horizon, the US CPI y/y data release on Thursday at 9:30pm (GMT+8). It could very likely lead to a stronger USD regardless of the data...

Why?

Because if the CPI is released as expected at 7.9%, this would indicate that the interest rate increases from the Feds are taking effect, spurring confidence for more rate increases.

And if CPI is sticky and still showing above 8%, then the Feds would have to continue increasing rates to combat further inflation growth.

Free trading community: discord.gg/b7X35tDD4T

Trading Course in Dubai www.jindaotai.com/apt-june
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.