A Bearish Week for the dollar(DXY)

We are expecting price to go lower on the dollar index this week. This is due to the massive price run  downwards on both the monthly and the weekly chart. This means that we will be looking to only enter into sell positions for the dollar. The first level that we will be looking to take our profits incase the price continues going downwards is level 103.513 on the dollar index. The next level we will be looking to take our profits is level 103.207 on the dollar index. Since we are bearish on the dollar, this means that we are bullish on pairs like Eur/Usd, Gbp/Usd, Xau/Usd etc. We also have some very high impact news this week like the Non-farm Payroll news so extra precaution should be observed when getting into trade setups. Wishing you a profitable trading week.   

Life favors the Audacious.