- DXY remains locked in its previous week's range, especially locked in Wednesday's range.
- The Thursday rally above Wednesday's high appears to be a fake breakout aimed at trapping traders long.
- With stops seemingly below Wednesday (Previous Week Low), how we trade past the previous week high or/and low should inform the unfolding direction.
With a run to the previous week's low and high possible, caution is recommended. Await expansion avoid the surge of new's release in the coming week and the choppiness that could unfold.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.