Last week in EURUSD, price went close to our first target and made a turn.
With the fed news coming in and the bad numbers were given, we saw DXY saw a plunge in downward direction.
In the coming week, since the DXY is still structured upwards, we will be looking it to continue the bullish trend. So, if we get a pullback and retest, preferably at 96.05, we'll be looking for long opportunities with our target set at 97.80 and 98.47 respectively.
If the support at 96.05 breaks, we'll be looking at dxy to further go down.
With that being said, we'l be keeping a neutral bias with DXY for this week and trade the dollar pairs in according to their individual properties.
With the fed news coming in and the bad numbers were given, we saw DXY saw a plunge in downward direction.
In the coming week, since the DXY is still structured upwards, we will be looking it to continue the bullish trend. So, if we get a pullback and retest, preferably at 96.05, we'll be looking for long opportunities with our target set at 97.80 and 98.47 respectively.
If the support at 96.05 breaks, we'll be looking at dxy to further go down.
With that being said, we'l be keeping a neutral bias with DXY for this week and trade the dollar pairs in according to their individual properties.
Comment:
Kindly pardon me. I mistakenly named DXY forecast as EURUSD forecast.