Last week we have seen heavy movement on the dollar index after Powell announcements that focused on the increase of interest rates. Knowing this, the dollar index will be the most important chart to pay attention for this business quarter. We can see a lot of classic technical aligning with this fundamental information. Currently, price action has started the week in consolidation. This is pretty typical for US instruments since the first week of every month has high impact news releases. Keeping our bias on the higher timeframe, we can see that there is a high probability for the dollar index to go beyond the previous high. Please note the multiple fake our to get this market going for the week. :-)
Comment:
Price has retested the consolidated market structure.
