Going in this week, we are looking for further declines in the DXY with targets set as shown on the charts.
As the event of Corona virus which is ongoing, China has decided to pour more money in the market to maintain the liquidity, we might see a demand and the currency airs like AUD will be directly affected by it.
This week, we will have a neutral to bearish bias with the DXY, we can see a consolidation between the pullback area and our first target, and so we'll trade the other pairs based on their own merits.
As the event of Corona virus which is ongoing, China has decided to pour more money in the market to maintain the liquidity, we might see a demand and the currency airs like AUD will be directly affected by it.
This week, we will have a neutral to bearish bias with the DXY, we can see a consolidation between the pullback area and our first target, and so we'll trade the other pairs based on their own merits.