Last week I said that DXY will go bearish due to the fact that it was printing the same structure that was printed before. Because of this identical shapes, I mentioned that DXY will fall, repeating the same move that it made before. Unfortunately, we experienced a fake breakout that touched our SL.
It should not yet be dismissed that this move will not unfold. After the breakout of the monthly high, we saw price closing below the high on Friday. For me, this is a sign that, that was just a fake-out and the coming week we might see price dropping.
Traders, if you are trading this, I do really encourage to go in it softly, with reduced risks.
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