Happy Monday!
Thanks for the recent likes and follows I am receiving it's much appreciated. If you have any other currency pairs you're interested in comment or private message me - I will be sure to go over it for you.
Why am analysing the dollar index?
I find DXY a very important pair to analyse, I don't personally trade the DXY often. I compare DXY with US equities indices and with FX Major pairs. You could also combine this with commodities but there are other aspects I do use when it comes to commodities which I will go over very soon!
DXY Technical Aspects:
Support - 90.650, 90.485, 89.910, 89.690
Resistance - 91.180, 91.520, 91.745, 92.415
Pattern - Descending Wedge, target met. (Channel Down)
DXY Fundamental Aspects:
This week we have the FED meeting & US tech earnings!
It will probably be an uneventful meeting for the FED just like ECB. The Fed have been very dovish for a while, it will be a surprise if they do go opposite way. I will be eyeing the key minor pairs that I monitor for risk on/ off reactions - EURJPY & AUDJPY. I expect further changes for ECB & FED in June - it's where it makes the more sense, EU will probably easing lockdowns, further vaccinations and same applies for US further vaccination will be done by summer the further improvement could help excel dollar to increase! Stay tuned...! 1.21 is key resistance area for EUR, If we break further above we could head to 1.22 areas.
Trade what you see, not what you think!
Have a great week ahead.
Mind Capital
(Just a trade idea, not a recommendation)
Thanks for the recent likes and follows I am receiving it's much appreciated. If you have any other currency pairs you're interested in comment or private message me - I will be sure to go over it for you.
Why am analysing the dollar index?
I find DXY a very important pair to analyse, I don't personally trade the DXY often. I compare DXY with US equities indices and with FX Major pairs. You could also combine this with commodities but there are other aspects I do use when it comes to commodities which I will go over very soon!
DXY Technical Aspects:
Support - 90.650, 90.485, 89.910, 89.690
Resistance - 91.180, 91.520, 91.745, 92.415
Pattern - Descending Wedge, target met. (Channel Down)
DXY Fundamental Aspects:
This week we have the FED meeting & US tech earnings!
It will probably be an uneventful meeting for the FED just like ECB. The Fed have been very dovish for a while, it will be a surprise if they do go opposite way. I will be eyeing the key minor pairs that I monitor for risk on/ off reactions - EURJPY & AUDJPY. I expect further changes for ECB & FED in June - it's where it makes the more sense, EU will probably easing lockdowns, further vaccinations and same applies for US further vaccination will be done by summer the further improvement could help excel dollar to increase! Stay tuned...! 1.21 is key resistance area for EUR, If we break further above we could head to 1.22 areas.
Trade what you see, not what you think!
Have a great week ahead.
Mind Capital
(Just a trade idea, not a recommendation)
Comment:
Let's see if Fed are more Dovish today!