DXY - Possible to reach 123

Comment :
1) In the rest of 2022, the FOMC has three (3) times to holds meeting on FED interest rate decision, on the date of 21st Sept, 2nd Nov & 14th Dec. It is expected that the FED would continue the tight monetary policy through increasing the interest rate to tackle inflation issue. A higher than expected rate is positive/bullish for the USD, while a lower than expected rate is negative/bearish for the USD.

2) TrendX+ - candlestick moving above green trend line, still mid-term uptrend.

3) DDX+ - fund candlestick is moving above zero-axis and green uptrend cross, indicating mid-term uptrend.

4) MCDX+ - strong, banker bar has increased to above 95% while retailers bar (turquoise) has vanished since the month of April, in which month DXY also BO Trendline A.

Support & Resistance :
R : USD123


DISCLAIMER:
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
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