Prediction from Martch 23.03.22
I expect DXY to move in the range of 98.560-98.350
The American dollar edged lower against most major rivals on Tuesday, except against the Japanese yen, with USD/JPY soaring to 121.02, its highest since February 2016. The greenback advanced during the Asian session, following the lead of soaring US government bond yields after Fed Chair Powell hinted at a 50 bps hike in May.
However, European indexes managed to post some modest gains, putting a halt to the dollar’s demand. Wall Street followed the lead of its overseas counterparts, also posting gains and weighing on the dollar. Speculative interest ignored bonds sell-off that sent the yield on the US 10-year Treasury note to a multi-month high of 2.39%.
The EUR posted a tepid advance vs the greenback, with the pair now trading in the 1.1020 price zone. The Union is too close and too affected by the Russia-Ukraine conflict to actually see its currency appreciate, despite mounting speculation the ECB will have to hike rates by at least 50 bps before the year-end.
triangles are good entries when the price breaks or bounces!!!!!
I expect DXY to move in the range of 98.560-98.350
The American dollar edged lower against most major rivals on Tuesday, except against the Japanese yen, with USD/JPY soaring to 121.02, its highest since February 2016. The greenback advanced during the Asian session, following the lead of soaring US government bond yields after Fed Chair Powell hinted at a 50 bps hike in May.
However, European indexes managed to post some modest gains, putting a halt to the dollar’s demand. Wall Street followed the lead of its overseas counterparts, also posting gains and weighing on the dollar. Speculative interest ignored bonds sell-off that sent the yield on the US 10-year Treasury note to a multi-month high of 2.39%.
The EUR posted a tepid advance vs the greenback, with the pair now trading in the 1.1020 price zone. The Union is too close and too affected by the Russia-Ukraine conflict to actually see its currency appreciate, despite mounting speculation the ECB will have to hike rates by at least 50 bps before the year-end.
triangles are good entries when the price breaks or bounces!!!!!