Due to solid job gains and decreasing unemployment, increase in household spending and expansion of business investment, the US FOMC decided to increase interest rates, on June 14th.
With a rather hawkish statement accompanying this decision, the US Dollar quickly gained strength, bouncing off the 96.45 support level.
Whilst some of this gain was reversed at the end of the week, what has developed, is the formation of a possible reversal, through an inverted head and shoulder pattern.
Therefore, if DXY is able to break above 97.40, that would be a completion of the pattern, indicating further upside to the USD.
Something to keep an eye on.
With a rather hawkish statement accompanying this decision, the US Dollar quickly gained strength, bouncing off the 96.45 support level.
Whilst some of this gain was reversed at the end of the week, what has developed, is the formation of a possible reversal, through an inverted head and shoulder pattern.
Therefore, if DXY is able to break above 97.40, that would be a completion of the pattern, indicating further upside to the USD.
Something to keep an eye on.
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Join my mailing list jindaotai.com/joinme
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。