**US DOLLAR ANALYSIS**
***Fundamental*** The FED has surprised all of us last week during Jerome Powell’s speech, for the first time they have indicated cut rates, 3 to be precise, in 2024.
This came during a period where the US Dollar was heavily beaten up due to relaxing inflation.
Everything is pointing toward a more bearish dollars.
***Technical*** We are approaching important level of demand on the US dollar index placed at around 101.00 and 100.30 where price will most likely be pushed to the upside for a brief upward rally, if it does create accumulation and manipulation at that level price will most likely reach the supply zone at 103.50 but not higher then that.
That supply should be strong enough to push price back down.
***Fundamental*** The FED has surprised all of us last week during Jerome Powell’s speech, for the first time they have indicated cut rates, 3 to be precise, in 2024.
This came during a period where the US Dollar was heavily beaten up due to relaxing inflation.
Everything is pointing toward a more bearish dollars.
***Technical*** We are approaching important level of demand on the US dollar index placed at around 101.00 and 100.30 where price will most likely be pushed to the upside for a brief upward rally, if it does create accumulation and manipulation at that level price will most likely reach the supply zone at 103.50 but not higher then that.
That supply should be strong enough to push price back down.