New bullish sentiment is in the USD air after Powell's confirmed faster than expected interest rate increases. That is why the 3 major components of the USDX are moving together to the downside. In the graphic, you can see how the EURO is developing a 3 waves corrective sequence retracing the movement that started in March last year. The GBP and also the Yen are following this direction as a consequence of the increasing strength of the US Dollar. Last Friday the US economy released a mixed data but the NFP was much stronger than expected keeping the hope of recovery after the Corona crisis.
Fintbi.com