DXY possibly correcting itself short term. NFP will cause havoc.
After an elaborate rally into HTF upside objective, this seems to be a legit retracement into area of discount before a subsequent rally.
1 year and 2 year US Bond Yields are spiking high now and I would not want to go against US Dollar's bullishness.
Plus, Jerome Powell hawkish during his recent testimonies. Therefore this will cause US Dollar to appreciate in value.
The week is not done yet as we have NFP tomorrow. Wild ride ahead.
No shame in admitting this week is a tough week to trade. Sitting out and sideline is the best thing a trader can do.
Stay safe and vigilant.
By Sifu Steve @ XeroAcademy
1 year and 2 year US Bond Yields are spiking high now and I would not want to go against US Dollar's bullishness.
Plus, Jerome Powell hawkish during his recent testimonies. Therefore this will cause US Dollar to appreciate in value.
The week is not done yet as we have NFP tomorrow. Wild ride ahead.
No shame in admitting this week is a tough week to trade. Sitting out and sideline is the best thing a trader can do.
Stay safe and vigilant.
By Sifu Steve @ XeroAcademy