DXY has been moving up in an ascending channel
Here is the analysis we posted back on 10th October.
DXY is generally bullish this time of the year and we are expecting the price to target the 95.100 zone in the coming week. However with another US $1.75 trillion infrastructure bill passed, this could cause dollar weakness.
The weekly chart has a bullish formation and a bullish order block has formed. We will observe how much the infrastructure bill impact Dollar before taking any positions.
If the price drops out of the ascending channel the bullish outlook is negated.
Here is the analysis we posted back on 10th October.
DXY is generally bullish this time of the year and we are expecting the price to target the 95.100 zone in the coming week. However with another US $1.75 trillion infrastructure bill passed, this could cause dollar weakness.
The weekly chart has a bullish formation and a bullish order block has formed. We will observe how much the infrastructure bill impact Dollar before taking any positions.
If the price drops out of the ascending channel the bullish outlook is negated.