DXY Forex Analysis 12 July to 16 July 2021
We predicted that the DXY will be indecisive this week, the bias is to the upside but price can be indecisive in the short to medium term. The coming week should continue to be choppy and value can be found to the downside by liquidating the longs at ~92 and ~91.5 levels. As usual we will present both cases. We are slightly biased to the downside next week as the market continues to look for conviction to one side.
BEAR CASE
The price should find itself chopping to break the 92 level and even the 91.5 before wicking back up to continue the up wave.
BULL CASE
If price breaks out to the upside, we expect to see it quickly wick back down from the 93.4 unless there’s a change to the fundamentals next week which triggers an extended move upwards to the 95.0 levels.
