DXY has been rising in to highs set at 97.700 area where a bearish engulfing formed and prices declined. Another lower high was set at 97.4500 area which suggests that prices are likely to head much lower. Our strategy is to take advantage of the recent price action and look to sell.
- DXY sell trade at 97.00 area aiming for closes near 95.00.
- Stops set at 97.700 area.
Risks to the trade near term include Thur 29/11/2018 FOMC minutes at 1900 GMT.