My Outlook On DXY For The Week Of Feb. 6 - Feb. 12!
So as we can see the DXY has been falling, causing all opposing pairs to rise. It currently has found support and is making a slight retrace. On the daily timeframe we can see the last major low the DXY made was at 88.253, of February 2018. 3 years later we have tested that zone again but coming shy with a low of 89.209 on January 6th, 2021 and 89.535 on May 25th, 2021. I have noted that we recently have seen a buy side liquidity grab, then pushed to the down. What I would like to see is this: Another retest to 96.000 and 96.500 area, looking to see what type of reaction we get. The DXY could continue above 97.481 to its desired destination of 103.713, causing all opposing pairs to fall. If price cannot break and hold above 96.500, I'll be looking for it to come down and test 94.187 area, possibly falling further to 93.750 and lower.
OVERALL BIAS ON DXY: BEARISH.
OVERALL BIAS ON DXY: BEARISH.
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.