Yes, DXY closed with a strong weekly bearish engulfing candle, in fact, the first bearish candle close in 2 months. While this is a strong indicator of what's been a highly anticipated correction lower, if price action on the daily continues to trade higher aggressively, then we may see a short term rally before price sell's off.
Despite this uncertainty, I see plenty of opportunity early in the week across the board. Here's how I'm positioned after Monday's development:
DXY - LONG
EURUSD - SHORT
USDJPY - LONG
GBPJPY - SHORT
AUDUSD - NEUTRAL
Despite this uncertainty, I see plenty of opportunity early in the week across the board. Here's how I'm positioned after Monday's development:
DXY - LONG
EURUSD - SHORT
USDJPY - LONG
GBPJPY - SHORT
AUDUSD - NEUTRAL
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.