USDX TRADE IDEA

Hi all

from the weekly chart, the price high and low are almost retracing 0.618%.
Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting.

I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar.

Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart.

Let me know what you think In the comments!

**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**

Thanks a lot for your support

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Can the resistance hold?