Dollar Index (DXY): Important Update Ahead of Powell Speech 💸

٢٥ أغسطس ٢٠٢٣

https://www.tradingview.com/x/lEX8sjk6/

Dollar Index is in a strong bullish rally since the middle of July.
However, to me, the market looks very overbought.

On a 4H time frame, we see the so-called Exhaustion Gap.
It usually appear at the end of the bullish move and signifies the
last attempt of the buyers to push the prices higher.

I believe that probabilities are high that the gap will be filled soon.

Of course, do not forget that we are expecting Powell Speech 10 am NY time.
It can affect the Dollar related instruments dramatically, so be careful.

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