💵 DOLLAR_INDX, H4 💵 27 March 2024
The Dollar Index, tracking against a basket of major currencies, held firm amidst a wait-and-see sentiment among investors. With anticipation mounting for the release of the PCE Price Index data crucial for gauging inflation and scheduled for Good Friday, market movement is expected to remain subdued. Despite the holiday, Top Fed officials, including Chair Jerome Powell and Mary Daly, are slated to provide insights, setting the stage for potential market shifts. Traders are advised to stay vigilant and strategize as economic data released over the weekend could spur heightened volatility come Monday.
The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout .
Resistance level: 104.45, 104.95📉
Support level:104.00, 103.65📈
The Dollar Index, tracking against a basket of major currencies, held firm amidst a wait-and-see sentiment among investors. With anticipation mounting for the release of the PCE Price Index data crucial for gauging inflation and scheduled for Good Friday, market movement is expected to remain subdued. Despite the holiday, Top Fed officials, including Chair Jerome Powell and Mary Daly, are slated to provide insights, setting the stage for potential market shifts. Traders are advised to stay vigilant and strategize as economic data released over the weekend could spur heightened volatility come Monday.
The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout .
Resistance level: 104.45, 104.95📉
Support level:104.00, 103.65📈