The US Dollar (DXY) is in a decision point area where we see two high probability scenarios -
1) A reversal to the upside
2) A massive break down to the bottom
The 96.00 level will be the key for the Dollar Index.
For now, we are expecting the 1st scenario to have a higher probability of happening; and with the number of risk events from the US side this week, especially the FOMC meeting, we might get an answer within the week.
Trade your plan and always manage your risk.
1) A reversal to the upside
2) A massive break down to the bottom
The 96.00 level will be the key for the Dollar Index.
For now, we are expecting the 1st scenario to have a higher probability of happening; and with the number of risk events from the US side this week, especially the FOMC meeting, we might get an answer within the week.
Trade your plan and always manage your risk.
