DXY potential reversal as we approach a very hawkish FOMC Long

U.S. Dollar Currency IndexTVC

Description

⋅ Oct 25, 2022 1:49 PM

Hey traders, in today's trading session we are monitoring DXY For a buying opportunity around 110.4 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.

Comments

ZH-FX

⋅ Oct 25, 2022 3:11 PM

Unless we don’t get any good USD news the US dollar will keep crashing

JoeChampion

⋅ Oct 25, 2022 9:45 PM

@ZH-FX, First week of November Fomc should be the main driver for USD bulls

Whale_Wing

⋅ Oct 26, 2022 12:45 PM

@JoeChampion, Don't you think they would have to surprise the market with 100+ basis point increase?

memoreister

⋅ Oct 26, 2022 1:22 PM

@Whale_Wing, That's not likely. But DXY is still in uptrend in upward channel.

Whale_Wing

⋅ Nov 8, 2022 5:49 PM

@memoreister, Is it still in an uptrend technically? It looks like a distribution pattern to me.

RLinda

⋅ Oct 25, 2022 4:33 PM

I agree. Strong analysis)

JoeChampion

⋅ Oct 25, 2022 9:45 PM

@RLinda, thanks Linda!

TheTradersAvenue

⋅ Oct 25, 2022 3:19 PM

Beautiful setup mate. Thank you!

JoeChampion

⋅ Oct 25, 2022 9:45 PM

@TradingAxis, anytime, happy to help!

GunMoney

⋅ Oct 26, 2022 3:59 PM

Nope, DXY just broke trend, we correct for a few weeks/months now. Canada just softened rate hike due to recession, likely will happen here next week. Stock rally into 2023, then I'm selling everything and moving to the beach in latin america because it's all melting down next year.