DXY Fib Retracement and support confluence - 61% next?
Some basic support and resistance analysis followed by layering the fib retracement shows confluence between the charted lines based on recent price history from 2020. 100 being the down target and 108 being the possible up target.
If we get a drop down on the DXY I expect risk assets to continue another leg up. If we break through the upward resistance I expect risk assets to drop lower.
We shall wait and see, I am hoping DXY drops lower after its recent break of long term up only diagonal trend but you never know what macro economic turn of events may hit next and affect this possibility.
If we get a drop down on the DXY I expect risk assets to continue another leg up. If we break through the upward resistance I expect risk assets to drop lower.
We shall wait and see, I am hoping DXY drops lower after its recent break of long term up only diagonal trend but you never know what macro economic turn of events may hit next and affect this possibility.