DXY – Another Week of Bull!
DXY the relentless has broken through the resistance line and even begun to form support with the close of Friday's daily candle. As you can see in the chart, DXY finished Friday with a bull pin bar in response to the prior resistance. We need to remember, that is a signal bar, *not* a confirmation bar. The next day or two will confirm if we're going for another leg up. If you're not already in a long, I recommend waiting for a more significant pullback for a swing trade. Otherwise, zoom into the 5-60 minute timeframes and look for good scalp/short-term entries. If there is one recommendation that can be made after this week, there is no short entry available on the daily chart. I left last week's pullback arrow to be transparent about where we were and where we are. Once we have confirmation that the pullback isn't happening at the 106 level, the analysis will change, and you will find it here!
Trade wisely and let us know what you think in the comment section below!
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