Powell's speech may set the tone for Dollar to have a short term rally.
I am still Bearish Dollar long term. But having heard what he said yesterday, it may give investors some sense of bullishness.
At the moment and for this week, watching if DXY can really rally above the Weekly zone, and upside draw towards the Daily Volume Imbalance.
Right now, its risk off scenario for DXY.
How DXY behave inside this Weekly zone is kind of key. It may just consolidate till next week's US CPI, which is very possible.
Just my thoughts.
Trader Sifu Steve @ XeroAcademy Malaysia
I am still Bearish Dollar long term. But having heard what he said yesterday, it may give investors some sense of bullishness.
At the moment and for this week, watching if DXY can really rally above the Weekly zone, and upside draw towards the Daily Volume Imbalance.
Right now, its risk off scenario for DXY.
How DXY behave inside this Weekly zone is kind of key. It may just consolidate till next week's US CPI, which is very possible.
Just my thoughts.
Trader Sifu Steve @ XeroAcademy Malaysia