DXY bullish move expected as range has broken. Long
US DOLLAR CURRENCY INDEXINDEX
Description
⋅ 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.