The DXY trapped buyers this week amid heavily crowded long positions, setting the stage for a sharp decline during the final week of July. Historically, July exhibits strong bearish seasonality for the dollar. While my mid-term outlook remains bullish, the index will likely head lower over the next few weeks, enter a consolidation phase in August, and initiate a major upward swing in September
Trade closed: target reached
Clean chart, clean tp hit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.