As we came to the close of the month, the DXY finally started to reverse from its month long rally. The first week of October is extremely crucial for us to determine the price direction for the rest of the month. Whilst I am slightly bias towards a selloff, we must not ignore the short term irrationality of markets.
BEAR CASE
We could see price fall lower in the first half of the week and find some indecision around the 93.7 levels before dumping lower.
BULL CASE
If we find bullish action on this bear next week, we must decide then if it's a fakeout or breakout. If a breakout occurs, we will be seeing price retest 98.
BEAR CASE
We could see price fall lower in the first half of the week and find some indecision around the 93.7 levels before dumping lower.
BULL CASE
If we find bullish action on this bear next week, we must decide then if it's a fakeout or breakout. If a breakout occurs, we will be seeing price retest 98.