In our last forecast, we were looking for DXY to turn down but we got a bullish DXY instead for the week.
As we move ahead in the new week, we can see DXY now trades above 96.65, and has already taken it as a support.
In the coming week, if we get a pullback and test of 96.65 again, we'll get a good place to start looking for bullish formations with our target for the week set at 97.70
If price breaks our first target, then our second target will be at 98.50 price zone.
Last week we also experienced that even if the dollar was bullish, other currencies performed well to dollar. Similar for the coming week, even if we have a bullish bias with the dollar, we might see some currencies to perform well.
As we move ahead in the new week, we can see DXY now trades above 96.65, and has already taken it as a support.
In the coming week, if we get a pullback and test of 96.65 again, we'll get a good place to start looking for bullish formations with our target for the week set at 97.70
If price breaks our first target, then our second target will be at 98.50 price zone.
Last week we also experienced that even if the dollar was bullish, other currencies performed well to dollar. Similar for the coming week, even if we have a bullish bias with the dollar, we might see some currencies to perform well.