My rationale
I think the DXY is in the short term bearish, if you look at the chart it could be interrupted as such. Therefore i think the price will hit close to 1.04125-1.04225 and then rebound to the downside. Lastly, the USD is in an overall bullish trend and because of the inverse relationship to the dollar the EURO is likely to decline off the strength of the dollar.
I think the DXY is in the short term bearish, if you look at the chart it could be interrupted as such. Therefore i think the price will hit close to 1.04125-1.04225 and then rebound to the downside. Lastly, the USD is in an overall bullish trend and because of the inverse relationship to the dollar the EURO is likely to decline off the strength of the dollar.
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.
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.