EURUSD and DXY: Two Possible Scenarios

EURUSD and DXY: Two Possible Scenarios

This time I am looking at EURUSD in relation to DXY.

If DXY will confirm the bearish movement that will confirm that we may see a price correction on the USD pairs.

This will increase the chances for a bullish movement on the EURUSD.

However, DXY can also grow from the current price position and it may move EURUSD down near the support zone and it can wait there for the CPI data.

The economic calendar is empty so we should be careful.

Thank you and Good Luck!

Comment:

DXY is confirming the bearish move

Comment:

#DXY
As I explained also yesterday DXY had the possibility of moving down as well.
After the yesterday move and bearish confirmation DXY is still on the bearish zone and it can reach 102.3 as the first target.

however we have to be careful as everything is related how the market will anticipate the CPI data from the U.S today.

Trade closed: target reached:

EURUSD one reached