DXY Upcoming Week Crucial
Based on my analysis, DXY will very much go up in the future.
Criteria for the reasoning:
Strong Uptrend on the Weekly
Retracement bouncing off the 50% Fib for 2 weeks
Pinbar with a long wick above the monthly support
This week, I could see the news being the deciding factor for the continuation of this bullish trend. For that reason, on the short/medium term, we could see some bearish movement to the downside to touch the 50% or the 61.8% again before it launchs upward.
Criteria for the reasoning:
Strong Uptrend on the Weekly
Retracement bouncing off the 50% Fib for 2 weeks
Pinbar with a long wick above the monthly support
This week, I could see the news being the deciding factor for the continuation of this bullish trend. For that reason, on the short/medium term, we could see some bearish movement to the downside to touch the 50% or the 61.8% again before it launchs upward.
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