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U.S. Dollar Q2 Price Action Setups: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD

From forex.com

The U.S. Dollar is nearing the end of Q1 trade and while the showing so far this year has been strength, price action has been entirely inside of the range established last Q4. While U.S. inflation remained strong and the labor market similarly echoed that strength, the Fed remained dovish and continued the trend that had started at the November 1st rate decision last year. The Fed reiterated this at the most recent FOMC meeting, releasing forecasts indicating the continued expectation for three cuts in 2024 trade. For Q2 of 2024, the big question is whether those cuts actually begin; and if they don’t, this loads ... (full story)

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  • Category: Technical Analysis