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JoeChampion
Mar 24, 2023 5:20 PM

DXY Potential Downsides after a dovish FOMC Long

U.S. Dollar Currency IndexTVC

Description

Hey Traders, in the coming week we are monitoring DXY for a selling opportunity around 104.6 zone. DXY is trading in a downtrend and extending pullbacks seems to be approaching the major trend around 104.6 support and resistance zone. Fundamentally the last FOMC was dovish and shows fed intents to pivot so that should give good opportunities on Dollar shorts, cryptos long and stocks long.
Trade safe, Joe.
Comments
RLinda
Pretty detailed analysis. Thanks for your work, colleague!
JoeChampion
@RLinda, Thank you Linda!
MonoCoinSignal
This trade setup is helpful, thanks for sharing it.
JoeChampion
Adam_hazouri
Why you think the FED was dovish in the last FMOC?
JoeChampion
@Adam_hazouri, soft rate hike, and also fed Powell didn't mention any further rate hikes in his speech after the rates decision
basictradingtv
Could absolutely play out, thanks a lot!
JoeChampion
@basictradingtv thanks mate!
TradingBrokersView
Technical analysis straight from the textbook. I agree with your idea. drop down is on the way ! Sharing ours too:
pejman_zwin
Such a post.💪
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