DXY dollar strength should continue

The strengthening of the dollar should continue now that the possibility of a government shutdown is behind us. We should see the dollar reach the 89.40 area. If we can hold there price will continue to around 90.00. The key figure to watch with this rally will be Thursday's CPI inflation data. We should see an on par or better than expected figure but if not. Expect price to show it and for the DXY to turn south and break the 88.50 area and even possibly the 88.20 area for a new low.

Trade idea becomes invalid if price doesn't hold the 88.90 area on the small pullback coming.

As always do your own due diligence and homework when it comes to trading. Have a plan and stick to it.

Keep calm and forex

Yorum:

The pullback of the move north was quicker than expected but price reached all the way up to the 88.45 area and was rejected. Looks to be holding the rejection well enough. Let's see if price makes another push north of 88.40 and holds.

Keep calm and forex.

Yorum:

Price smashed expectations getting all the way up to 90.20. The pullback is a result of a few FOMC members speaking less than hawkish today. Watch as more members speak tomorrow for further price direction.

Keep calm and forex.