DXY more room for up before short sell
Updated
DXY or dollar index had saw a nice bullish momentum for the upside, and that because of the inflation and the delta between dollar fed fund rate and the other foreign currencies rates.
last week a ECB member told the press that the ECB will start to raise rates gradually this year to fight against inflation, this will narrow the gap between interest rates.
DXY can push more up for this moment to 110.00 level before facing a major threshold where United States Dollar will be less attractive in comparison to other currencies.
last week a ECB member told the press that the ECB will start to raise rates gradually this year to fight against inflation, this will narrow the gap between interest rates.
DXY can push more up for this moment to 110.00 level before facing a major threshold where United States Dollar will be less attractive in comparison to other currencies.
Comment
as we mentioned, DXY is approaching to the 110.00 level keep an eye on it, it could lead to huge turning point in all different asset classes.
Enjoy ;)
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