Timefame: 1 Hour
Bull Above 104.021
Bearish below 103.883
Moving below 100 EMA, Invalidation of view above the EMA, level 103.94.
🔸DXY steadies at 104, awaiting crucial US inflation data.
🔸Focus on personal consumption expenditures index and global inflation figures.
🔸Fed Governor advises delaying rate cuts, impacting DXY based on inflation outcomes.
🔸A delay in Federal Reserve interest-rate cuts, signaled by strong inflation data, could boost the dollar's momentum.
🔸The scope for dovish surprises by the Fed is considered smaller than for other G10 central banks, supporting the dollar.
🔸While low volatility has restrained larger dollar gains, a change in market repricing of Fed rates could lead to significant dollar appreciation.
Trade closed: target reached:
DXY target done, +275 pips