The latest bullish price action on the DXY gave rise to a strong reaction from aussie bears. However, we can see that last week Friday's daily close was that of a bullish engulfing candlestick. This can indicate two things, firstly, it could indicate a major trend reversal or it could signal a pullback to retest previous levels. In my opinion, the first scenario isn't very likely since the higher timeframes which indicate direction depict strong bearish momentum. Therefore, going into this week my directional bias is short. We can wait for a signal on the daily timeframe to initiate short trades. Patience and prudence produce results.