DXY had its final victory on Friday after a roller coaster alike days of moves last week.
What I think is that it has reached to a temporary level of bottom and now should continue up after a few days of consolidation before heading further north for at least next few weeks.
For this week I don't see any major economical data that can influence the US movement, so the market response should be mild and an easy consolidation phase. DXY at the moment requires a bit of correction by the look of its RSI on lower time frames.
The correction should be not significant but may hit the daily 20MA which is around 92.48. And If dollar gets weaker, it can hit to the bottom of the bullish pennant formation which is roughly around 91.92.
GL and safe trading
What I think is that it has reached to a temporary level of bottom and now should continue up after a few days of consolidation before heading further north for at least next few weeks.
For this week I don't see any major economical data that can influence the US movement, so the market response should be mild and an easy consolidation phase. DXY at the moment requires a bit of correction by the look of its RSI on lower time frames.
The correction should be not significant but may hit the daily 20MA which is around 92.48. And If dollar gets weaker, it can hit to the bottom of the bullish pennant formation which is roughly around 91.92.
GL and safe trading