BitcoinForex (SPOT)

Dollar Index ($DXY): ECB comment & FED forecast

Yesterday we followed the announcement of interest rates from the European Central Bank which proved us right and confirmed a 50 basis point increase. Our analysis appears to have been correct technically as well, but today’s session supports a lot of caution in the short-term. From a technical point of view, looking at the daily chart we see a very important support around 103.80, if the dollar manages to close today’s session with a reversal candle (a Hammer, for example) well above the support, a bullish continuation is possible in waiting for the FED meeting.

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