butchjong

DXY bullish move expected as range has broken.

Long
INDEX:DXY   US DOLLAR CURRENCY INDEX
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3
Technical Analysis:
  • As the range is broken, we sill most likely see the DXY hit the target zone between 105.41 to 105.79.

  • A pull back shoul be considered going further down to 50% of the range before finally going back up to the target zone.


Fundamental Analysis
Excerpts from Chair Janet Yellen Speech At The Executives' Club of Chicago, Chicago, Illinois:

The economy has essentially met the employment portion of our mandate and inflation is moving closer to our 2 percent objective

Looking ahead, we continue to expect the evolution of the economy to warrant further gradual increases in the target range for the federal funds rate.