Dxy_short
DXY Market Outlook | Daily Forex Market BreakdownDXY
We haven’t seen much movement in the last week. We have been just ranging for now. Bit of a wicks to the upside and now were creeping up and looking to be pushing above the current trendline. Definitely not the most ideal price action. Watching closely.
DXY Market Outlook | Forex Market BreakdownDXY
At a make it or break it level. The next couple of days will be really important. I believe that soon we should be seeing some big bullish movement to the upside. We could definitely see a big move to the downside as well is this support level is broken. We need to be extra cautious for fake outs right now.
DXY Market Outlook | Daily Forex Market BreakdownDXY
Some choppy movement with the US dollar
I do believe we could push higher but remember right now we’re just hovering around resistance, if we fail to break above we will roll over to the downside. That being said I am favoring a bit more upside movement before the market melts to the downside.
DXY Market Outlook | Daily Forex Market BreakdownDXY
This is where things are going to get very interesting. Can we sustain bullish momentum and push above current resistance or are we going to reject off resistance and roll over to the downside. I am watching very carefully. Right now it's very important to maintain a traders mindset and not get sucked into a gambling mentality. Patience will be key, everything will get clear very soon. I will update everyone if I see any opportunities