Today's focus: USDX
Pattern – Continuation (Bullish)
Support – 103.65
Resistance – 103.96
Hi, traders; thanks for tuning in for today's update. Today, we are looking at USDX on the daily chart.
Today, we are asking if the USDX will set off on a new continuation higher after posting further bullish price action. The worry is if we don't see a close above...
The British pound continues to come under selling pressure as the UK grapples with high inflation, caused by high energy prices, supply chain issues, and a cost of living crisis forcing consumers to lose confidence in their future economic prospects and drastically cut back on spending.
The UK economy is expected to fall into a recession, whilst a recession in...
Ahead of this week's Federal Reserve interest rate decision.
We look at why the markets are turning hawkish on their expectations for the U.S Central bank to raise rates to deal with the high inflation.
We look at why this will cause EUR/USD to continue its downtrend when we look at U.S Bond Rates relative to European Bond Rates and how the differential drives...
DXY like I've mentioned multiple times... this is very important that it correlates with the pairs your trading. So DXY almost mirrors EURUSD in the opposite direction (eurusd pushes up..dxy pushes down). Price is looking good but don't expose your accounts to to much risk by trading all similar pairs.. trade smart and make sure you always risking appropriately.
