Can DXY bounce here?

1 באפר׳ 2023

The dollar is in a secular downtrend, but after retracing 78.6% fib of its recent up move it looks to be trying to put in a double bottom. Going long DXY here to play for a potential bounce higher. This would be a potential negative for risk assets and is certainly something to keep an eye on. Don't expect it to completely reverse trend here but a nice pop could be in order.