Sforex
Long

USDollar: FED Rate Decision + GDP are the key risk events.

INDEX:DXY   US DOLLAR CURRENCY INDEX
114 0 1
Next week, market backs to US data to find momentum to trading.

We have two major data :

- FED Interest Rate decision
- US GDP

Nearly surely FED would hold rate unchanged next meeting, but what we expect is whether FED signals the timeframe of the rate hike decision or they still keep neutral stance.

In my opinion, FED gradually shift their bias from neutral stance to more hawkish, and they feel more confident about current situation of US economy.

Rate should rise this year, FED should satisfy demand of traders around the world who put their belief on FED.

An upbeat tone from FED is enough to send support to USDollar             .

Regarding to US GDP, the data should be positive , a strong number is widely expected; despite other countries are facing to maintain their grow, I believe US is the spotlight of the world.

- Technical Analysis

With the excess above Kumo cloud and some significant resistances, and the price action moves in the bullish channel : I think the uptrend should be supported.
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