DXY: Pullback gives a good buying opportunityDXY is in a long term uptrend, so, corrections give way to excellent buying opportunities. This way, we can profit from exploiting volatility, while following our long term vision and fundamental bias.
There is a correction under way, which I assume can be similar to the previous ones. I think the move up will start soon, but it'll probably gain steam after FOMC is out of the way, not before. I'd reccomend buying into a position gradually, since now we made a strong move down, breaking into new weekly lows, so we'll need to use a wide stop loss (or calculating size based on risking 0.5-3% of the account, if stopped out 3 times the daily average true range value down from the initial entry).
Monitor price action in the coming 8 days, it should be clear when it's about to turn up again, so be ready to add incrementally to the position.
Let's see how it goes, good luck!
Ivan Labrie.
