DXY: Feeler Long
I bought a small starter position around $80.07. It's more like short-term counter trend trade.
If some sort of a Govt. Deal goes through over the weekend, USD should see a pop. Looking to add to position on strength in next week or two. If SPY breaks down further, USD should catch a bid as "apparently" safe haven currency.
I am keeping a tight stop as price trend is still making lower highs. Its hard to initiate large position with confirmation at this level.
On the weekly the price is still in a large triangle consolidation. Break below the 50 Fib on strong volume would be very bearish for USD. After that level, there is not enough solid support on the weekly till $76-$74.
If some sort of a Govt. Deal goes through over the weekend, USD should see a pop. Looking to add to position on strength in next week or two. If SPY breaks down further, USD should catch a bid as "apparently" safe haven currency.
I am keeping a tight stop as price trend is still making lower highs. Its hard to initiate large position with confirmation at this level.
On the weekly the price is still in a large triangle consolidation. Break below the 50 Fib on strong volume would be very bearish for USD. After that level, there is not enough solid support on the weekly till $76-$74.
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