Hello Traders, Lets look at the DXY analysis
Technical Analysis..
1. DXY found a Resistance at 106 level, and we could see a strong fall from here.
2. Next Strong Support @104.90 so we a fall first then rise.
Statistics...
1. DXY Rose 1.4% in June due to the fact inflation numbers are not the best, and US10Y still high.
Fundamentals
1. We are awaiting some fuel to drop the #DXY like Low #NFP numbers, high Unemployment rates and wages are cooling off.
Conclusion:-
Feds are fighting inflation and DXY will fall as the market price in rate cute more often and sooner, this will happen as we see Growth numbers are dropping and Inflation consequentely.
Going Forward, we should be looking to sell the #DXY only and avoid any long positions.
Technical Analysis..
1. DXY found a Resistance at 106 level, and we could see a strong fall from here.
2. Next Strong Support @104.90 so we a fall first then rise.
Statistics...
1. DXY Rose 1.4% in June due to the fact inflation numbers are not the best, and US10Y still high.
Fundamentals
1. We are awaiting some fuel to drop the #DXY like Low #NFP numbers, high Unemployment rates and wages are cooling off.
Conclusion:-
Feds are fighting inflation and DXY will fall as the market price in rate cute more often and sooner, this will happen as we see Growth numbers are dropping and Inflation consequentely.
Going Forward, we should be looking to sell the #DXY only and avoid any long positions.
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signalsview.com
Contcat us to activate systems and access trading signals
Contcat us to activate systems and access trading signals
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.