DXY (US-DOLLAR-INDEX) could contineu its trend!
Hey tradomaniacs,
its getting tricky for the US-DOLLAR as the market is very news-driven since inflation is such a hot topic!
Last week and before we have seen very crazy move as soon as economic data got released.. from bad NFPs to high inflation-data to worse retail sales.
Technically we see a potential breakout below the trendline of the daily-chart and the correction could eventually end if we see more bearish confluence and momentum!
Nontheless, be carefully as FOMC-meeting on Wednesday could be very crucial as the market waits for any hints about a tighter monetary policy planned by th FED.
its getting tricky for the US-DOLLAR as the market is very news-driven since inflation is such a hot topic!
Last week and before we have seen very crazy move as soon as economic data got released.. from bad NFPs to high inflation-data to worse retail sales.
Technically we see a potential breakout below the trendline of the daily-chart and the correction could eventually end if we see more bearish confluence and momentum!
Nontheless, be carefully as FOMC-meeting on Wednesday could be very crucial as the market waits for any hints about a tighter monetary policy planned by th FED.