After strong run higher during the past week, USD might retrace initially to let off some steam.
Thus, Bearish bias for the beginning of the week with some potential continuation higher thereafter.
This would position E/U higher to start off the week.
DXY - Week Commencing 3/9/21
WEEKLY: Price closed exactly on the previous swing low's level @ 92.100
DAILY: Ascending channel broke to the downside, now retesting a support level, thus further continuation to the downside may be taking place towards 91.525 (coinciding with HTF 50 EMA).
H4: Price may push higher momentarily until the 61.8% Fib...
Overall downtrend. However, outlook is Bullish overall, for this picture to be confirmed I will wait for price to break above the bearish trend-line and make HH & HL. Push higher could happen at the 0.69650 level (61.8% Fib).
Positive USD data and Risk-on sentiment may push USD/JPY higher from next week. However, this pair is failing to make new Higher Highs, closing the week below the most recent Swing High's Daily Close. Will be interesting how things play out from Monday 26/7.