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| DXY Confined Above Range |
Now that the FOMC statements have been made the FED's direction towards the rate increase is well within its time frame. The overall performance of the US economy is steady with jobs and unemployment on track the USD Index after its corrective move for the past two weeks is currently steady moving higher.
The DXY reaching a session high @97.65 to this writing shows its resiliency for the week ahead. Especially with Gold and Oil favoring a higher USD move have been quite supportive. Nothing has really changed from the last two weeks and coming back to see that the Stock market has yet to find a considerable catalyst to find its breaking point. The wide consolidation of the Dow Jones is still confined within its range. While a few stocks such as SBUX has been steady with prices well on the higher band of its trend. These are the moves that certainly retain and follows its major trend contrary to the roller coaster ride we've previously seen.
The technical angle on this chart figure shows the prices well within its channel trend applying the Fibonacci Fan and Retracement Theory that defines a well established trend contrary to its daily and weekly pull backs that justifies a healthy correction before the next stage of higher moves seen today.
Have a great weekend!
The DXY reaching a session high @97.65 to this writing shows its resiliency for the week ahead. Especially with Gold and Oil favoring a higher USD move have been quite supportive. Nothing has really changed from the last two weeks and coming back to see that the Stock market has yet to find a considerable catalyst to find its breaking point. The wide consolidation of the Dow Jones is still confined within its range. While a few stocks such as SBUX has been steady with prices well on the higher band of its trend. These are the moves that certainly retain and follows its major trend contrary to the roller coaster ride we've previously seen.
The technical angle on this chart figure shows the prices well within its channel trend applying the Fibonacci Fan and Retracement Theory that defines a well established trend contrary to its daily and weekly pull backs that justifies a healthy correction before the next stage of higher moves seen today.
Have a great weekend!
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