Using equidistant channel, the
DXY
is still on a monthly fall with a possible lower channel support on 87.578.
In view of a larger bullish channel, a stronger support maybe around 79.50.
This bearish move seems to be of higher probability in view of potential economic stimulus in the pipeline, aligned with the narrative COVID-19 market playbook: extreme instability before unified order.
Intermediate stop loss: 91.50
1st profit target: 87.578
DXY
is still on a monthly fall with a possible lower channel support on 87.578. In view of a larger bullish channel, a stronger support maybe around 79.50.
This bearish move seems to be of higher probability in view of potential economic stimulus in the pipeline, aligned with the narrative COVID-19 market playbook: extreme instability before unified order.
Intermediate stop loss: 91.50
1st profit target: 87.578
