HTF Dxy is still bullish!
DXY started forming a bearish structure due to heavy news we got last weeks. Can we see a bullish move next week?
DXY may push higher in the short term to the next supply zone 109.
Technically, DXY is reaching a critical and a psychological are 105.0 and also an unmitigated demand zone that can attract buyers to push the USD higher for the short term.
Fundamentally, The index extends the sharp decline in the aftermath of US inflation figures and against the backdrop of a firmer sentiment in the risk-linked galaxy.
In the meantime, investors’ repricing of a probable pivot in the Fed’s policy now emerges as a fresh and quite reliable source of weakness for the dollar, in line with a corrective decline in US yields across the curve.
DXY may push higher in the short term to the next supply zone 109.
Technically, DXY is reaching a critical and a psychological are 105.0 and also an unmitigated demand zone that can attract buyers to push the USD higher for the short term.
Fundamentally, The index extends the sharp decline in the aftermath of US inflation figures and against the backdrop of a firmer sentiment in the risk-linked galaxy.
In the meantime, investors’ repricing of a probable pivot in the Fed’s policy now emerges as a fresh and quite reliable source of weakness for the dollar, in line with a corrective decline in US yields across the curve.
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