📊The Daily Candle opened at the Gibbous. The Support is imminent as the Daily Close is slightly Above the open. The Inverse Pin Bar can be Mistaken to indicate that Sellers are coming in Aggressively.
⚖️Our Sentiments points to a Higher High at the Green zone, which is a Lower Timeframe Order zone (Proximal line- 105.593 & Distal line- 105.739) Price needs to get to this High
📈Huge Demand Orders injected should push Higher Prices into the Higher Timeframe Demand Zone (Prox line 106.166 & Distal line - 106.765) Our Position Orders will be Closing once Price gets into this Demand zone
🛎We still maintain A monthly Bullish Sentiment on Dollar
DXY Big Picture
USD BULLISH
Monetary policy dynamics should favor Dollar strength into the early part of next year
Softer growth outlook that will drive safe-haven flows towards the Dollar
Several factors support Dollar strength
Reasonably steady US economic trends and hawkish leaning Fed
Significant upgrades to for the next periods are set to keep US Dollar gains sustained
Markets featuring companies at the forefront of AI services could reinforce currency appreciation pressures
Slowdown in US inflation and growth is going to take a lot longer
When the dust settles, the Fed is set to continue raising rates
US to have permanently higher rates than elsewhere
Re-acceleration of inflation and its win over the Fed will continue to catch the market by surprise
The Dollar is higher for longer, alongside the Fed’s narrative
Stagflation to take USD even higher
Hot CPI means the Fed pivot is well beyond the horizon