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CandlesofKarma

Dollar Index (DXY): Beginning of The Week Analysis | 7/24/22

Short
U.S. Dollar Index (TVC:DXY)  
CandlesofKarma Updated   
TVC:DXY   U.S. Dollar Index
Trend Analysis Chart Patterns priceactionanalysis priceaction Technical Analysis consolidation fakeout fakebreakout dollarindex DXY marketstructure
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trendanalysis chartpattern priceactionanalysis priceaction technicalanalysis consolidation fakeout fakebreakout dollarindex dxy marketstructure
With interest rate and all the other lovely fundamentals the Dollar has been on bullish run of a life time! The last few days of the previous week, the Dollar did not do so much and even showed some initial temptation to keep shorting on Friday, but as you know .. it never that easy :-) Hence we ended with a three day consolidation.

I expect we may see the Dollar perform some aggressive bearish moves from a technical standpoint, but the sentiments for the Dollar can change as we get closer to the FOMC release. It will be an important to understand this index especially is you are trading anything US related this week.
Comment:
Watching - Feds plan to do a rate hike.
Comment:
We are now pushing to the zone of interest

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