levaughnmario

DXY directional bias is definitely long.

Long
TVC:DXY   US-Dollar Währungsindex
Dollar bulls have clearly been flexing their muscles in the last two weeks. Given last week's strong bullish weekly close we can expect the bullish momentum to continue. The daily candlestick close was a shooting star, this has two implications, one of which can signify a pullback to retest the most recent support level that can be seen on my chart or if we have a strong bearish daily close on Monday it can mean that the dollar bulls have lost their tenacity and are allowing the bears to take over. This week's economic calendar has quite a few high impact dollar news, one of which is non-farm payrolls, so we can expect some volatility. Taking a longer-term view on this pair however has more bullish appeal in my opinion since the weekly and monthly candlesticks are depicting a strong bullish presence.
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