Alright DXY Overview analysis for the trading week ahead.
Starting off with the technical's.- We have been in a strong bear market for quite sometime. As inflationary concerns grow, and other parts of the market showing precautionary interest. The dollar has some rather consistent sell offs.
Monthly resistance was recently met, resulting in a sell off. As what appears to be a wedge forming. Consolidation candles have formed a pennet flag. Usually a break out of the pennet, will reveal the new price direction. Confluence of the Yearly Trend and Monthly reistance is illustrated. I am suspecting a break out to the downside potentially.
Fundamentals- Highly driven fundamental week for Both USD and EUR
Feb 26, 10:00- New Home Sales Change (MoM)
Feb 27, 08:30- Goods Trade Balance
Feb 28, 08:30 -Core Personal Consumption Expenditures (QoQ)
Feb 28, 08:30 - Gross Domestic Product Annualized
Feb 28, 08:30- Gross Domestic Product Annualized
Feb 28, 10:30- EIA Crude Oil Stocks change
Starting off with the technical's.- We have been in a strong bear market for quite sometime. As inflationary concerns grow, and other parts of the market showing precautionary interest. The dollar has some rather consistent sell offs.
Monthly resistance was recently met, resulting in a sell off. As what appears to be a wedge forming. Consolidation candles have formed a pennet flag. Usually a break out of the pennet, will reveal the new price direction. Confluence of the Yearly Trend and Monthly reistance is illustrated. I am suspecting a break out to the downside potentially.
Fundamentals- Highly driven fundamental week for Both USD and EUR
Feb 26, 10:00- New Home Sales Change (MoM)
Feb 27, 08:30- Goods Trade Balance
Feb 28, 08:30 -Core Personal Consumption Expenditures (QoQ)
Feb 28, 08:30 - Gross Domestic Product Annualized
Feb 28, 08:30- Gross Domestic Product Annualized
Feb 28, 10:30- EIA Crude Oil Stocks change