Our analysis of the DXY chart of the previous week are still valid for this week too. Price went near the resistance at 90.50 making the high of the week at 90.30. This structure at 90.30 is important because it looks like it is finishing the right shoulder of the head and shoulders pattern on the 4 hours time frame chart. As we see from the chart, based also on fundamental weakness of USD of these days we may expect a drop to our target structure at 88.50 where we may expect strong support.
For this week we expect a weakness of USD so we anticipate a Bearish DXY with price target at 88.50.
For this week we expect a weakness of USD so we anticipate a Bearish DXY with price target at 88.50.