A general outlook on the USD for the next week.
At the beginning of the week, we saw some USD strength, however the price action today shows the DXY is threatening the highs at 95.20.
It is already starting to look like a bullish ABC pattern, however a break of 95.20 will confirm it. We can see a pull back of course, but the lows set during the ECB meeting, which have been marked as wave (b), should act as an invalidation level in the case of a bullish ABC.
At the beginning of the week, we saw some USD strength, however the price action today shows the DXY is threatening the highs at 95.20.
It is already starting to look like a bullish ABC pattern, however a break of 95.20 will confirm it. We can see a pull back of course, but the lows set during the ECB meeting, which have been marked as wave (b), should act as an invalidation level in the case of a bullish ABC.