TGIF all,
I wanted to share my opinions to the chart of
DXY
.
I see DXY still successfully produces lower highs while finding supports on 9 months old (blue) trendline.
In my opinion, DXY is still bullish above 94.60.
We observed a correction lately on DXY from the 97.5 levels.
Demand to dollar increased due to the expected rate hikes of Fed but the price already discounted the hike probabilities.
Now we have to watch carefully of the upcoming NFP data while observing the Omicron cases.
Be careful!
If the layoffs are high, there may be a jump on average wages.
Have a good weekend!
I wanted to share my opinions to the chart of
DXY
. I see DXY still successfully produces lower highs while finding supports on 9 months old (blue) trendline.
In my opinion, DXY is still bullish above 94.60.
We observed a correction lately on DXY from the 97.5 levels.
Demand to dollar increased due to the expected rate hikes of Fed but the price already discounted the hike probabilities.
Now we have to watch carefully of the upcoming NFP data while observing the Omicron cases.
Be careful!
If the layoffs are high, there may be a jump on average wages.
Have a good weekend!