November has been off to a much better start for USD than October ended. And seasonality suggests DXY could be in for a positive close this month. This ties in nicely with Tuesday’s analysis, which showed bearish engulfing… Read More
The USD index (DXY) presented traders with a bearish engulfing candle on both the weekly and monthly chart by Friday’s close. So, will this bearish pattern live up to its grizzly name in the weeks ahead?
DXY looks set to challenge the 2018 peak, although price action near-term could be stretched. Beyond February seasonality points lower, so how it reacts around the highs could be key as we head into March.