Hello guys,
Currently DXY is resting on a strong support area at 101.773.
Just a quick recap.
We had the advanced GDP news release which saw a 2.1% growth in 2022 despite challenges like recession fears and high prices. The job market remained strong and people were optimistic about the future.
If the Core PCE Price Index m/m data release yields are better than expected, price can possibly break the descending trend line before heading towards the overlap resistance at 102.821.
Alternatively, if the yields are below expectations, expect DXY to head towards the previous weekly swing low at 101.297.
Stay safe trading guys! :)
Regards,
Chen Yongjin
Currently DXY is resting on a strong support area at 101.773.
Just a quick recap.
We had the advanced GDP news release which saw a 2.1% growth in 2022 despite challenges like recession fears and high prices. The job market remained strong and people were optimistic about the future.
If the Core PCE Price Index m/m data release yields are better than expected, price can possibly break the descending trend line before heading towards the overlap resistance at 102.821.
Alternatively, if the yields are below expectations, expect DXY to head towards the previous weekly swing low at 101.297.
Stay safe trading guys! :)
Regards,
Chen Yongjin