Despite the weakness across the board for USD at the start of the week, we still think that DXY will recover and go towards resistance areas by the end of this week. We have 2 plans for the pair if it tests supply zone and trendline resistance.
We will either see if it creates a reversal pattern and short the pair or see if it pushes through the resistance and goes further. Tomorrow we will have last weeks COT report so we can also see how institutions are positioned on US Dollar Index.
We will either see if it creates a reversal pattern and short the pair or see if it pushes through the resistance and goes further. Tomorrow we will have last weeks COT report so we can also see how institutions are positioned on US Dollar Index.