Short DXY. We have broken the upwards channel alongside a head and shoulders and now are in a bearish channel. We are retesting the neckline from current levels to 92.50/92.60 as a good short entry. Retail is long the dollar and are calling bottoms everyday which gives me a further bearish outlook on the dollar index.
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I do see the dollar DXY strengthening over the next few days and possibly into next week. I will be scalping long dollar until a short opportunity presents itself. The longer term bearish dollar DXY view is still in tact.
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DXY is continuing its downtrend. Dollar weakness has started long term to mid 80s.
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