Last week we had a neutral bias with DXY as it was trading above a major support but was still in a bearish major direction, and so we traded the majors with respective to their characteristics.
As we move forward in the new week, price now has broken strongly below a support turned resistance at 96.17 and now is in bearish direction.
Now there is an important fact to consider that there is a meeting with Fomc and we also have a interest rate decision. The events occurring is expected to market volatile across dollar pairs and one can trade but it is recommended to let the market settle after the volatility period to find good setups later.
As we move forward in the new week, price now has broken strongly below a support turned resistance at 96.17 and now is in bearish direction.
Now there is an important fact to consider that there is a meeting with Fomc and we also have a interest rate decision. The events occurring is expected to market volatile across dollar pairs and one can trade but it is recommended to let the market settle after the volatility period to find good setups later.