US dollar index:
The three major data yesterday made the U.S. dollar index fluctuate. In the end, because of the dovish signal released by the Federal Reserve, the U.S. dollar index once fell, and the current quotation is 105.414. The release of the ADP employment numbers yesterday prompted a short-term decline in the dollar, but the release of the GDP annualized rate data pushed the price of the US dollar index up to 107.133 at one point. However, at 2:30 a.m. Beijing time, Federal Reserve Chairman Powell announced that he would decide to slow down interest rate hikes in December and maintain a dovish stance. The U.S. dollar index plummeted once the news came out.
The H4 chart used Fibonacci to backtest the price and reversed and fell after the initial 0.618 position. Looking at the Fibonacci extension, the price is expected to fall to the 104.994 position.
Suggestions for ordering:
Gold and mainstream currencies can choose to enter the market at a low level to do long, and non-mainstream currencies can choose to enter the market at a high level to short.
All transactions involve risks, and the above analysis is for reference only. Be sure to set the number of hands and remember to set a stop loss when placing an order.
