forexmonarchy

DOLLAR DEMAND NOT OVER YET? Pullback scenario

Short
TVC:DXY   U.S. Dollar Index
DXY looks to aim towards 50% retracement level and swing low area (99ish level) to attract new wave of buyers. Fundamentally dollar should continue lower on FED's balance sheet expansion and fresh risk on sentiment, specially vs risk on currencies. But I don't yet see dollar depreciation much lower, so first demand area should be at described levels. If we break below we have more chances of seeing dollar lower, but until those levels I am bearish. I am not sure if demand should be strong enough because those levels have been seen recently and volatility is decreasing. Until then...
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