DXY tethering in the balance. We favour the upside
The dollar index is holding the top of the channel and could break to the upside anytime from here. If in the off case, the macro sentiment changes, the price could break back down into the channel.
BULL CASE
Our price targets last week of 97.5 stands, price looks good at these levels if you can enter once market opens next week.
BEAR CASE
If there macro situation clears up and there is clarity on when the fed will raise rates, we should see price drop to 94.2. I'm less in favour of the bear case.
BULL CASE
Our price targets last week of 97.5 stands, price looks good at these levels if you can enter once market opens next week.
BEAR CASE
If there macro situation clears up and there is clarity on when the fed will raise rates, we should see price drop to 94.2. I'm less in favour of the bear case.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.