Friday’s session was pretty poor for the USD. The backdrop remains very uncertain. NFP was way below expectations and that sends a signal to the market that The FED will remain very engaged. That has negative implications for the USD and puts a bid on RISK. We saw sharp rallies for most equity indexes.
The Biscuit strategy focuses mostly on behavior and sentiment. Charts are a reflection of that behavior and a window into sentiment.
When we analyze the DXY chart we see a pivotal level approaching. Our mission is not to make forecasts or to predict where a currency will go. Our mission is to find proper set-ups that allow us to risk small, to make BIG. The USD is approaching a level that offers high convexity for a good trade. We will analyze individual charts in an attempt to find proper, positive risk reward.