- Dollar index has not been showing much movement but did do a minor pullback as expected.
- During the beginning of the year markets are usually in a corrective structure so this type of movement is expected.
- After the first quarter it will be much clearer as to what continuations of the markets will be over the year.
- Dxy usually is a confluence for me when trading other USD pairs but over the next few weeks ill be trading less using this as confluence as it has been moving positively with pairs that is usually moves negative with. Ill be basing my trades on USD pairs with direct confirmations from the pairs its self.
- Going into this week with Dxy moving towards our key area at 97.80, will watch market at this level for entries but at the same will keep an eye out for a pullback/ stop hunt towards 97.4 area.
My weekly forecast, highlighting the overall trend with key levels to get an idea of the best targets in the upcoming week and weeks ahead. Basic projection of the market with technical/ and is to be used for ideas, entry point analysis is done on a daily basis for entries with minimal drawdown.