The Fed raised its funds rate by 75 basis point to a target range of 3.00% - 3.25%, its highest since 2008.
DXY remains bullish, even technically, supported by a rising trendline, 20 and 50 SMA on D1.
Even if the RSI starts showing overbought signal with bearish divergence, and Bollinger bands upper limit reached, it isn't in this case a sell signal: strong momentum brings traders into this trap.
Wait for RSI to cross below the 14 SMA as described on the chart to start looking for a correction.
Measuring the corrections shows us strength recently in the momentum ( smaller corrective waves ).
Measuring the impulsive wave shows us that the uptrend hasn't reached yet it's logical goal.
With the good news on the USD, the index can reach the 114 level.
Goodluck,
Joe.
DXY remains bullish, even technically, supported by a rising trendline, 20 and 50 SMA on D1.
Even if the RSI starts showing overbought signal with bearish divergence, and Bollinger bands upper limit reached, it isn't in this case a sell signal: strong momentum brings traders into this trap.
Wait for RSI to cross below the 14 SMA as described on the chart to start looking for a correction.
Measuring the corrections shows us strength recently in the momentum ( smaller corrective waves ).
Measuring the impulsive wave shows us that the uptrend hasn't reached yet it's logical goal.
With the good news on the USD, the index can reach the 114 level.
Goodluck,
Joe.