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YavuzAkbay
Jun 14, 2023 7:43 PM

Dollar Weakens After FED Announcements 

U.S. Dollar Currency IndexTVC

Description

As of now, the FED interest rate decision has been announced and the FED has kept the interest rate constant. In addition to keeping it steady, Powell still made harsh and hawkish statements. Personally, I have question marks in my mind about how full these explanations are. Because now the job is not just to reduce inflation and most business sectors have started to break. I don't think it can go on like this.

If we are talking about interest rates, the only factor we need to look at is the dollar index. The dollar index has technically formed a descending triangle. The level to be seen in a down break will be $ 98.

Comment

The descending triangle pattern worked and the index dropped below the 101,000 level. We will wait for a retest for the 98,500 level.
Comments
Tudu250
don't sell now. allow the weekly time frame to form double top reversal, that is when the market can push to $98
YavuzAkbay
@Tudu250, That's possible. Good strategy!
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