Trade Alert
After a good run up, when DXY reversed higher, on the 10th of January, the index started moving back down. That said, DXY still remains above the broken downside resistance line, taken from the highest point of December last year. Even if the index continues to slide lower, we will class this move, as a corrective one, before another leg of buying.
If DXY breaks back below the above-mentioned downside resistance line, only then we will start considering further declines.
Don't forget your SL
After a good run up, when DXY reversed higher, on the 10th of January, the index started moving back down. That said, DXY still remains above the broken downside resistance line, taken from the highest point of December last year. Even if the index continues to slide lower, we will class this move, as a corrective one, before another leg of buying.
If DXY breaks back below the above-mentioned downside resistance line, only then we will start considering further declines.
Don't forget your SL