The DXY is a wild one! What everybody wants is a prediction. You don't get that with me.
I show positions of probability. What that means is that if there is a 51% chance for one direction, then there is a 49% chance for the opposite direction. I'm not aiming to be right. I'm aiming to limit how wrong I am. It's that simple. Did you get that? I can be wrong.
Wrong - means that I lose money. Nobody likes to talk about losses in trading. I break that rule. I'm telling you right now, there are losses here. If you decide to go long on this position (which is only a snapshot), ensure that it's money you can afford to lose. (Note carefully my brutal disclaimer). I don't tell people about targets and stoplosses - because I don't provide advice. I express my opinion on probability complete with potential losses.
You can certainly short this position if in your assessment you come to believe the dollar is going further south.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.