DXY Chart Technical Outlook – after Thursday’s erratic price action, the index consolidated on Friday with little net change for the day. The intraday chart highlights the scope to build a bearish Bat formation. We are currently assessed as being within the corrective BC leg to the downside. I look for losses to be limited. The major data release this week is on Thursday. The PCE (personal consumption expenditure), is the Fed’s preferred gauge of inflation.
Correlation studies would suggest that the immediate bias is bullish but for rallies to be sold.
