The dollar index ahead of FED decision day is at the 20dma and has retraced the recent losses from incoming data around weak inflation. In other words, Dxy is up only on fear that the fed will raise rates, but the data suggests that they should not. At a critical resistance, the dxy may be close to resuming its downward course. The dollar should head lower from here.
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.