dxy is currently bearish toward 104.89 but upon reaching to this level will decide which way go
if break 104.89 will go down further
if hold 104.89 and can not break the level will up toward previous high
but key points:
Weak labor market data has fueled speculation among investors about potential Federal Reserve rate cuts later this year.
Market sentiment is being swayed by expected shifts in U.S. monetary policy due to weak economic indicators.
A dovish shift in monetary policy could support higher bond prices and potentially pressure the dollar if inflation continues to cool.
if break 104.89 will go down further
if hold 104.89 and can not break the level will up toward previous high
but key points:
Weak labor market data has fueled speculation among investors about potential Federal Reserve rate cuts later this year.
Market sentiment is being swayed by expected shifts in U.S. monetary policy due to weak economic indicators.
A dovish shift in monetary policy could support higher bond prices and potentially pressure the dollar if inflation continues to cool.
Comment:
bearish scenario happened