DXYBullish triangle spotted, which price at the support zone of the uptrend channel.
Price action last week, we can see growing volumes throughout the week expect for Friday closing where volume halves, which tells us that the Friday lower close is not a reversal but a cool off.
Next week important data would be the Fed interest rate decision, there is a possibility of further cuts to aid the bad state economy.
If there is not changes in interest rate, we would hold our long term view for the dollar to reach near 110 mark in the coming months.
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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.