Hello, dear friends! I hope you had a great start to the week in the market. As we analyzed yesterday, the Dollar Index found support around the 200-day moving average at $104.90 and rallied towards the resistance level at $105.20 during the New York session. Currently, prior to the US interest rate decision session scheduled for 22:30, the Dollar Index has entered a corrective phase once again.
Considering market expectations of interest rates remaining unchanged in September, it is anticipated that the European markets will see a decline in the Dollar towards the previous support level of $104.90, followed by an increase in demand during the New York session. However, the upward momentum is expected to be weak after the interest rate decision session, with the Dollar likely to approach levels near last week's ceiling around the $105 range.
Considering market expectations of interest rates remaining unchanged in September, it is anticipated that the European markets will see a decline in the Dollar towards the previous support level of $104.90, followed by an increase in demand during the New York session. However, the upward momentum is expected to be weak after the interest rate decision session, with the Dollar likely to approach levels near last week's ceiling around the $105 range.