DXY: Dollar Index Update
Been waiting for DXY to come back to 94.28 at least, if not to 93.99
(and potentially a spike to an extreme low off the lower trend line at
worst) before the Dollar begins its next surge higher...
But it's putting up a fight at 94.45 in London today.
It can still come off from around 94.70 mark though so getting
the turn here is tricky...now need to see a break above 94.70
by 5 pips to get long for move up to 96 initially, and much
higher still over the medium term.
In adsence of such price action it's a waiting game a little longer,
looking for a retest of 94.28 or ideally 93.99 before looking to go long again.
Been waiting for DXY to come back to 94.28 at least, if not to 93.99
(and potentially a spike to an extreme low off the lower trend line at
worst) before the Dollar begins its next surge higher...
But it's putting up a fight at 94.45 in London today.
It can still come off from around 94.70 mark though so getting
the turn here is tricky...now need to see a break above 94.70
by 5 pips to get long for move up to 96 initially, and much
higher still over the medium term.
In adsence of such price action it's a waiting game a little longer,
looking for a retest of 94.28 or ideally 93.99 before looking to go long again.