Fundamental Backdrop
1. USD continues to face uncertainty and volatility due to the SVB crisis.
2. All eyes will be on the FOMC meeting and the Fed Fund Rate.
3. More dovish on the USD will lead to EURUSD heading higher.
4. Fed might be restricted to hike rates by 50bps due to the instability of the banking industry in the US.
Technical Confluences
1. Price rejected off the resistance at 105.3.
2. Price can potentially come lower to reach support level at 102.65.
3. Given the uncertainty and fear, DXY has reason to continue heading down.
Idea
DXY can tap into the support area at 102.65.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. USD continues to face uncertainty and volatility due to the SVB crisis.
2. All eyes will be on the FOMC meeting and the Fed Fund Rate.
3. More dovish on the USD will lead to EURUSD heading higher.
4. Fed might be restricted to hike rates by 50bps due to the instability of the banking industry in the US.
Technical Confluences
1. Price rejected off the resistance at 105.3.
2. Price can potentially come lower to reach support level at 102.65.
3. Given the uncertainty and fear, DXY has reason to continue heading down.
Idea
DXY can tap into the support area at 102.65.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Comment:
20th March 2023 sorry for the wrong date