$DXY -CPI# Rally/Crash
Updated
Dollar Index (
DXY) has bounced of from a considerable strong Support Level at 109.
109-107-104 are major key levels of Supports for the currentDXY uptrend
In caseDXY loses those areas of supports, it will be in 'trouble' for the short term, while
Equities, Commodities and Forex Markets will be experiencing huge rallies,
taking advantage of a weakening Dollar.
Today is the Consumer Price Index number release.
Consensus sits at 8% Inflation rate, while the previous month's number is at 8.2%.
Many are forecasting for a 8.1% CPI number coming out.
While in the world of speculation nothing is for certain, it is best for traders to
wait over CPI's release taking the risk off and trading cautiously .
I would not suggest for any one to trade the news and it's volatility, but if you do so,
please take measures on any occurring scenarios over CPI's number release.
Very important day for everyone who is involved on Financial Markets.
Very important day for Macro-Economics Data and overall Inflation around the World.
TRADE SAFE
Note that this is not Financial Advice .
Please do your own research or consult your Financial Advisor before partaking on any trading activities based soly
on this idea
DXY) has bounced of from a considerable strong Support Level at 109.109-107-104 are major key levels of Supports for the current
DXY uptrend In case
DXY loses those areas of supports, it will be in 'trouble' for the short term, whileEquities, Commodities and Forex Markets will be experiencing huge rallies,
taking advantage of a weakening Dollar.
Today is the Consumer Price Index number release.
Consensus sits at 8% Inflation rate, while the previous month's number is at 8.2%.
Many are forecasting for a 8.1% CPI number coming out.
While in the world of speculation nothing is for certain, it is best for traders to
wait over CPI's release taking the risk off and trading cautiously .
I would not suggest for any one to trade the news and it's volatility, but if you do so,
please take measures on any occurring scenarios over CPI's number release.
Very important day for everyone who is involved on Financial Markets.
Very important day for Macro-Economics Data and overall Inflation around the World.
TRADE SAFE
Note that this is not Financial Advice .
Please do your own research or consult your Financial Advisor before partaking on any trading activities based soly
on this idea
Note
DXY breaking down the bullish flag pattern.Next look for support at 200EMA on the Daily TF (105.5)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.