{"id":42521,"date":"2023-02-27T05:52:00","date_gmt":"2023-02-27T05:52:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42521"},"modified":"2023-02-28T22:13:21","modified_gmt":"2023-02-28T22:13:21","slug":"dxy-technical-analysis-awaiting-the-fomc-2","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/dxy-technical-analysis-awaiting-the-fomc-2\/","title":{"rendered":"DXY Technical Analysis &#8211; Awaiting the FOMC"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42521\" class=\"elementor elementor-42521\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-832e8de elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"832e8de\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-029bb2a\" data-id=\"029bb2a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e5f40ac elementor-widget elementor-widget-text-editor\" data-id=\"e5f40ac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> has started to rise again due to hawkish rhetoric towards rates from Fed members. and an expectation that the Federal Reserve are going back into a more aggressive rate hike mode.<\/p><p>Last week\u2019s high PCE inflation number also set about the notion that the Fed are about to do a U-turn. A number of key Fed officials also came out swinging for the fences last week.<\/p><p>For example, Fed member Collins said, \u201cMore rate hikes needed to deal with &#8216;too high&#8217; inflation\u201d and \u201cthe US central bank will need to get rates up and potentially hold them there for a long period\u201d.<\/p><p>Despite being somewhat optimistic that the Fed can get inflation down and achieve a soft landing negative economic outcomes are another reason why traders could continue to flock back into the buck.<\/p><p>Technical analysis also shows some really interesting developments right now. The US dollar index is fast approaching its 200-day moving average, meaning a medium-term trend test is underway.<\/p><p>Interestingly, the US dollar index is also trading well above its 200-week and 50-week moving averages. Meaning a bullish crossover is underway and also the long-term trend therefore remains higher.<\/p><p>This is also confirmed by sentiment analysis, as it shows a huge majority of traders are very long the US dollar index, which likely means the need to be cautious right now.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-603cfee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"603cfee\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-71126bb\" data-id=\"71126bb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d43e6f elementor-widget elementor-widget-image\" data-id=\"6d43e6f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"439\" height=\"169\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/usdind-chart-3.jpg\" class=\"attachment-large size-large wp-image-42525\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-91b03e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"91b03e1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-58f34ce\" data-id=\"58f34ce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d94e3c2 elementor-widget elementor-widget-text-editor\" data-id=\"d94e3c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>According to the ActivTrader Market Sentiment tool some 82% of traders are bullish towards the US dollar index, which certainly hints that bulls could be in for some pain this week.<\/p><p>Overall, with retail traders still positive we are probably going to see the US dollar index heading lower. Although the pace of this week\u2019s decline is pretty significant already.<\/p><p><strong>US dollar index Short-Term Technical Analysis<\/strong><\/p><p>Technical analysis on the four-hour time frame shows that the US dollar index has formed a bullish reversal pattern and is about to break above its short-term rage. The price is likely to see an immediate upwards price surge towards the 106.00 area once 106.00 is cleared.<\/p><p>I would be inclined to look for a short-term move towards the 108.00 level based upon the overall size of the mentioned range break between the 100.00 to 105.00 levels.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1d259ca elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d259ca\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-73df548\" data-id=\"73df548\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d1e0b57 elementor-widget elementor-widget-image\" data-id=\"d1e0b57\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"554\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/usdind-4h-2.jpg\" class=\"attachment-large size-large wp-image-42526\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3c6ab5c6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c6ab5c6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a69b01\" data-id=\"a69b01\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b4c4a96 elementor-widget elementor-widget-text-editor\" data-id=\"5b4c4a96\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\" rel=\"noopener\">See real-time quotes <\/a>provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-310bf75 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"310bf75\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-931bf58\" data-id=\"931bf58\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1bef8a elementor-widget elementor-widget-text-editor\" data-id=\"f1bef8a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>US dollar index Medium-Term Technical Analysis<\/strong><\/p><p>The daily time frame is showing that US dollar index is fast approaching its 200-day moving average.<\/p><p>For now, in order for the downtrend in the US dollar index to really stick technically, we probably need to see the 106.00 area defended. Please also remember the US dollar index trades above all of its key weekly moving average.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bf30c42 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bf30c42\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3bc805e\" data-id=\"3bc805e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-274c9f4 elementor-widget elementor-widget-image\" data-id=\"274c9f4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"552\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/usdind-1d-2.jpg\" class=\"attachment-large size-large wp-image-42527\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ac76d15 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ac76d15\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d97bd2d\" data-id=\"1d97bd2d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59c97d0f elementor-widget elementor-widget-text-editor\" data-id=\"59c97d0f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar index has started to rise again due to hawkish rhetoric towards rates from Fed members. and an expectation that the Federal Reserve are going back into a more aggressive rate hike mode. Last week\u2019s high PCE inflation number also set about the notion that the Fed are about to do a U-turn. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":42523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[42,101,40],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DXY Technical Analysis - Awaiting the FOMC - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/dxy-technical-analysis-awaiting-the-fomc-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DXY Technical Analysis - Awaiting the FOMC DXY Technical Analysis - Awaiting the FOMC\" \/>\n<meta property=\"og:description\" content=\"The US dollar index has started to rise again due to hawkish rhetoric towards rates from Fed members. and an expectation that the Federal Reserve are going back into a more aggressive rate hike mode.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/dxy-technical-analysis-awaiting-the-fomc-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-27T05:52:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-28T22:13:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/gettyimages-643456562.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"270\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"DXY Technical Analysis - Awaiting the FOMC DXY Technical Analysis - Awaiting the FOMC\" \/>\n<meta name=\"twitter:description\" content=\"The US dollar index has started to rise again due to hawkish rhetoric towards rates from Fed members. and an expectation that the Federal Reserve are going back into a more aggressive rate hike mode.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/dxy-technical-analysis-awaiting-the-fomc-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/dxy-technical-analysis-awaiting-the-fomc-2\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"DXY Technical Analysis &#8211; 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