There is no change of behaviour since the start of this leg up in the DXY. The channel to the upside is still intact and thus I have to expect another move up in the Dollar. As long as the dollar remains above its support the next move must be up. There is a target in the 97.98 to 98.03 for the DXY.
The EUR/USD is also not indicating a bottom but rather a short term attempt for a weak recovery. I am looking for some sort of a spike high in the DXY before I can start to entertain the idea of EUR/USD bottom.
The short term target in the EUR/USD is a lot closer though - 1.117, let see if we can get it today. ONLY a move above 1.128 can change the trend in the EUR/USD.
The DXY Charts on all time-frames:
EUR/USD Charts:
The EUR/USD is also not indicating a bottom but rather a short term attempt for a weak recovery. I am looking for some sort of a spike high in the DXY before I can start to entertain the idea of EUR/USD bottom.
The short term target in the EUR/USD is a lot closer though - 1.117, let see if we can get it today. ONLY a move above 1.128 can change the trend in the EUR/USD.
The DXY Charts on all time-frames:
EUR/USD Charts:
