Expect Early Retracement and Stick with the Trend

This week may see a recovery of the DXY so very cautious this week as we have no idea what news will affect the week ahead. It's the second week of Q2 and there may be very weak times for the DXY until at least June 20th. My analysis points to very possible decline heading into the next 2 weeks with steady to rapid recovery in July. With that being said this week for AUDUSD we are looking for a play out of prior weeks but with more volatility. USD could take another hit in the coming weeks so expecting recovery of Gold and a drop in the USD. Target this week is 0.715 to 0.720. If we hit the zones of liquidation we could see a retracement but highly unlikely given the circumstances with the US Economy. If we can see an early recovery of the dollar then we can look for targets in the 0.65 to 0.64 area.


Note: THIS IS NOT FINANCIAL ADVICE AND IS NOT TO BE TAKEN AS SUCH. PLEASE NOTE I AM NOT QUALIFIED TO ADVICE ON THESE ISSUES AND THIS IS STRICTLY AN ANALYSIS FOR PEER CRITIQUE AND IS FOR EDUCATIONAL PURPOSES.