Forex

US DOLLAR TECHNICAL FORECAST: BULLISH We’ve just completed a massively important week for the US Dollar as the currency finally began to pullback from yearly highs – but that only lasted for around 36 hours as bulls pounced on the pullback to then drive to another fresh yearly high. The Fed was very clear this week – they’re hawkish and they’re going to hike rates to attack inflation and while markets may have become accustomed to an FOMC beholden to stock market gains, the driver now is inflation and the Fed is going to do their job of honoring their mandate to move towards price stability. A Powell speech on Thursday propelled USD to fresh highs that kept printing into the end of the week. The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.