DXY continues to the range bound, values lies to the downside.

We predicted that price move in a range bound manner drawn by the white channel. We think price will continue to trade in that channel. Value for DXY lies to the downside, and we need to see some important levels being broken before the upward move of the DXY can continue. As usual, we will present 2 cases. And we will start with the likely bear case first.

BEAR CASE
Four areas of liquidity is marked out by the the dollar sign. These areas needs to be broken in order for price to be able to continue to the upside. We think price is likely to find conviction to the down side if it breaks out of this ranging channel.

BULL CASE
If for some reason, the bulls find conviction, we will see a breakout of the channel and a retest before price finds itself shooting upwards.