Hey Traders, NFP news wasn't the best for DXY, but this is just a part of the puzzle as we still have to watch the coming CPI data. if CPI comes above expectations Fed won't happy about it and that will trigger more USD strength as fed will head towards hiking rates. but in case of a soft CPI that will lead to a more dovish fed and then more DXY downsides. SO in the short term i expect some technicals pullbacks towards downsides until the release of CPI and then we can have more of a medium term bias about the Dollar. Technically we have noticed a breakout of the uptrend so i will be watching a potential retrace of the trend around 104.7 Supply and demand zone. Trade safe, Joe.
This is probably the best publication on this asset in the current market sentiment + I've seen a couple of news stories that would also support this idea. Thanks for sharing)
that's nice chart, keeping it simple and short, but if the trade will respect that double bottom from 104 levels then the market might still be heading north