U.S. Dollar IndexUpdated ABCD (alternates), .618 retrace, bottom of channel, MM
After what appears to be a double top put in by DXY, price is moving down.
Looking at several confluent factors for potential Target area:
1. Large .786AB=CD
2. .618 Retracement
3. Bottom of rising channel
4. Parallel channel break with measured move exceeds target area
5. Projected 1.272AB=CD in current move down
Looking at several confluent factors for potential Target area:
1. Large .786AB=CD
2. .618 Retracement
3. Bottom of rising channel
4. Parallel channel break with measured move exceeds target area
5. Projected 1.272AB=CD in current move down
Note
Nice move down in DXY to our target area. Job well done.
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Disclaimer
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.