DXY, Bearish
Dollar seemed like will continue to consolidate in the following days. The chart shows the price has reached the support area but there is no strong bullish candlestick yet.
https://www.fxstreet.com/news/forex-today-us-dollar-weakness-set-to-continue-202212071949
I believe this is just a short-term decline in price due to the inflation data and market being in recession worries. This might support dollar continue to rise. https://www.reuters.com/markets/currencies/dollar-slips-recession-fears-cbank-meetings-loom-2022-12-09/
We should await the conclusion of the Fed's monetary policy meeting on Dec 14. In my perspective, it's risky to trade before the Fed's results.
https://www.fxstreet.com/news/forex-today-us-dollar-weakness-set-to-continue-202212071949
I believe this is just a short-term decline in price due to the inflation data and market being in recession worries. This might support dollar continue to rise. https://www.reuters.com/markets/currencies/dollar-slips-recession-fears-cbank-meetings-loom-2022-12-09/
We should await the conclusion of the Fed's monetary policy meeting on Dec 14. In my perspective, it's risky to trade before the Fed's results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.