FOMC Economic projections.
FED Interest Rate hike. 2 pm On Wednesday.
With this meeting ahead, provide 2 theories to the movement of the dollar.
Dollar can certainly gain more traction, and appeal to investors. If more certainty of a 3rd Interest Rate Hike for 2017 sounds probable.
If not, if it appears to sounds like they may not consider, and begin to mention 2018. This can effectively extend the premium on DXY make adverse pairs much more appealing.
DXY still has plenty room of easy downside movement. Currently hovering at the .382 FIB as a Critical Level for the potential move ahead.