A relatively quiet week in terms of economic risk events this week, putting the FOMC meeting minutes on Wednesday the focus for this week.
Looking at the US Dollar Index (DXY), price has broken below the previous structure after hitting a high at 95.14, and is currently correcting.
Should price continue to develop in a corrective manner, we are expecting further downside for the US Dollar towards 92.59 - 93.08 area.
As long as price remains below 95.14, our bias remains bearish on the US Dollar going into this week's FOMC meeting minutes.
Looking at the US Dollar Index (DXY), price has broken below the previous structure after hitting a high at 95.14, and is currently correcting.
Should price continue to develop in a corrective manner, we are expecting further downside for the US Dollar towards 92.59 - 93.08 area.
As long as price remains below 95.14, our bias remains bearish on the US Dollar going into this week's FOMC meeting minutes.