.... and these are my AUDUSD and USDJPY charts:
I'd think spot FX across all the four pair I showed will either complete the set on their respective H4 charts (i.e. the dollar will strenghten), or the dollar will weaken.
I suspect the dollar will continue to firm up DESPITE the testimony, but weaken slightly against gold (i.e. XAUUSD to firm up) to balance it out.
But like Powell's testimonial today, the above is just a SNAPSHOT.
I recommend trading on what's happening at the moment and not on some snapshot.
I'd think spot FX across all the four pair I showed will either complete the set on their respective H4 charts (i.e. the dollar will strenghten), or the dollar will weaken.
I suspect the dollar will continue to firm up DESPITE the testimony, but weaken slightly against gold (i.e. XAUUSD to firm up) to balance it out.
But like Powell's testimonial today, the above is just a SNAPSHOT.
I recommend trading on what's happening at the moment and not on some snapshot.
I'm not trying to convince anyone. I'm not in the "convincing" business.