DXY June Week 2 Outlook
Consumer Price Index and U.S. Retail sales are going to be the movers this week, other than China vs. The U.S. trade talks.
Where are we on the DXY:
Following last weeks bearish move, where I successfully predicted a nice drop to the downside ascending trendline of the channel, we've gotten to an interesting situation. If DXY can break the current bottom channel which has been respected multiple times this year, my next downside target for will be the yearly open which is 96.14.
Into this week, however, I suspect some bullish price action for the dollar, back up to 97.14. This week early, I expect some sideways price action for the dollar, a push up to 97.14, where we will then assess the price action based on the two important fundamental releases for the Dollar.
I would suggest shorts at 97.14. The next drive down would be 96.14, which would be a 100 basis point call, which to be honest is a pretty bold move that I'm not afraid to make, however, am speculative of.
As of now, it's all about the Weds and Friday numbers.
Where are we on the DXY:
Following last weeks bearish move, where I successfully predicted a nice drop to the downside ascending trendline of the channel, we've gotten to an interesting situation. If DXY can break the current bottom channel which has been respected multiple times this year, my next downside target for will be the yearly open which is 96.14.
Into this week, however, I suspect some bullish price action for the dollar, back up to 97.14. This week early, I expect some sideways price action for the dollar, a push up to 97.14, where we will then assess the price action based on the two important fundamental releases for the Dollar.
I would suggest shorts at 97.14. The next drive down would be 96.14, which would be a 100 basis point call, which to be honest is a pretty bold move that I'm not afraid to make, however, am speculative of.
As of now, it's all about the Weds and Friday numbers.
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