DOLLAR INDEX (DXY) FOMC Ahead! What to Look At?💵

14 Des 2022

Dollar index is approaching a key daily structure support.
103.4 - 103.8 is the zone on focus.

Depending on the reaction of the market to that, I see 2 potential scenarios:

If the price breaks a resistance of a falling wedge pattern on a daily,
a bullish movement will be expected.

If the price breaks and closes below a green support though,
a bearish movement will be expected.

Everything will most likely depend on the FOMC meeting.

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