U.S. Dollar IndexShort
DXY - Longterm Trend
The expectation of one rate cut in 2024 was realized after the FED skipped a rate cut in June. With the realization of this expectation, we may see downward profit-taking in the DXY. In the future, this easing could cause a period of sideways movement between the 104-106 range, depending on inflation and unemployment data. Based on the data flow and the break of the previous low of 104, we can expect a pullback to the first target level of 102.90.
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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.