This week's price action for all the pairs came at a bit of a surprise but not totally unexpected. It reminds us again why it's so important to control the risk in your trades. We expect DXY to see farther gains to retest the top of the channel once more.
BULL CASE
DXY to move farther up from here to retest the top of the channel at around 94.5
BEAR CASE
There's a potential head and shoulders set up here on the 4 hr if our initial hypothesis holds, we will see a dump here and a retest of 91.5
BULL CASE
DXY to move farther up from here to retest the top of the channel at around 94.5
BEAR CASE
There's a potential head and shoulders set up here on the 4 hr if our initial hypothesis holds, we will see a dump here and a retest of 91.5