With the markets pivoting in the FED's aggressive hiking cycle, there is a fear is the market that the DXY would take a temporary breathing room and consolidate further. But make no mistake! DXY is still in the uptrend as the US economy is showing resilience thus making FED less worried in their quest to tame the inflation by hiking interest rates. Even if the FED pivots by the end of year, the interest rate differentials between USD and other major currency is still going to be wide thus making USD more valuable.
As said above, EURUSD is still on major sell trend, here according to technical picture there is a slight room for EURUSD to appreciate towards the 1.01250 area. Beyond this, we need further level break on technical level to assure that EURUSD would keep rising as it faces multiple stern resistance. Have a look at the main chart for all the technical aspects behind this trading idea.
Trade Safe & Cautiously.
As said above, EURUSD is still on major sell trend, here according to technical picture there is a slight room for EURUSD to appreciate towards the 1.01250 area. Beyond this, we need further level break on technical level to assure that EURUSD would keep rising as it faces multiple stern resistance. Have a look at the main chart for all the technical aspects behind this trading idea.
Trade Safe & Cautiously.
