DX is currently glued to 200SMA, so too early to say that bias has decisively changed to bearish. However, a series of lower highs and lower lows is quite apparent. Having said that, a potential short term rally should find resistance around 100, which is HUGE psychological level.
I am slightly bearish on the dollar basket, especially that we are now back below 200sma. It will look much more bearish if price lets go off the MA.
We should always wait for the market to dictate our moves. If price breaks above 200SMA and subsequently 100, my bias will change, but for now dollar looks to be losing steam.
I am slightly bearish on the dollar basket, especially that we are now back below 200sma. It will look much more bearish if price lets go off the MA.
We should always wait for the market to dictate our moves. If price breaks above 200SMA and subsequently 100, my bias will change, but for now dollar looks to be losing steam.