However, our analysis tells us otherwise. While we currently still do not have a fundamental catalyst to tilt the Dollar to the upside, we are seeing the downside for Dollar to be limited. In fact, there is a fair chance we will see a deep retracement, if not a reversal in the Dollar soon.
We are seeing a 5-wave completion on the Dollar, with a diagonal forming on the 4-hour chart. What we need is simply a catalyst or fundamental tilt to align our technical outlook.
Keeping a close watch on this next week.
*This is not a trade call to enter a long position on DXY . Make sure you have a proper plan to trade and manage your risk.