Fed sentiments and D1 double bottom rally

Jun 17, 2021

I heard huge number of speculators since yesterday as usual blaming obscure "unknowns" for manipulating USD value as most of market was anticipating USDX to fall below 85. Fed kept interest rate unchanged near zero but clued elevation of rates in future which worked as catalyst to USD and rally occurred which tumbled major currencies and metal prices against usd. However, in my opinion, market was already giving reversal signals with rising inflation, soaring oil prices and macroeconomic data it was easy to anticipate Fed would most probably try to aid USD. On technical grounds DXY chart already formed a double bottom on D1 tf which is a bullish sign as well. In the current scenerio i clearly vote for dollar bulls rally to continue