DXY (USD)

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DXY (USD)U.S. Dollar Currency IndexTVC:DXYJawad_Khalili1Expecting upside continuation. We can see on HTF we have Bullish MS, with HH & HL formation. Fundamentals: - Rate cuts bets faded. - Oct FOMC, Powell slightly less dovish to Hawkish tone - want to be cautious with future rate cuts & want to be data dependant. - Dec rate cut probabilities dropped from 95% chance to 63% chance. This means that US yields remain high, less investor outflow because of interest rate differentials, therefor we can see USD upside. The only think thats probably impacting it is the US lockdown, and is now the longest ever, therefor investors still cautious as they would like to see data before we can see big drivers.