When I write the Online Trading Academy Forex newsletter, I give my opinion about what I believe is happening to the currencies of the world based on the news I hear, the experts I follow, and my personal experiences of the economic cycles I have seen in the past. This fundamental information helps me understand what reports and indicators the economists of the world believe will shape future events.
US Dollar Index declines towards 114.00, Fed Powell’s speech hogs limelight
The US dollar index (DXY) is on the verge of delivering a downside break of the consolidation formed in a narrow range of 114.27-114.10. The DXY is expected to decline towards the round-level support of 114.00 as the asset has failed to sustain above 114.40 after multiple attempts.