I think the dollar will stay strong this week atleast until NFP on friday. As we all know, news is just an excuse to change price direction so I am sticking with basic technicals and have drawn a trendline
channel that DXY
is current trading within. Theres a trend line
resistance around 97.05 for the dollar index
which is +100 pips from its current price at 96.02. This 100 pip move is equivalent to about 150-200 pips move in currencies so these big moves are either gonna happen before NFP or during NFP, either way I am bearish
on the dollar in the coming 1-2 months. Just my opinion.