DXY CMP 100.939
Elliott- thats a zig zag corrective pattern. The C leg which is very fast and steep is underway.
Fibs- Two tgts one at 96 and the other at 93. We will look at our indicators at these zones for reversal.
Channel - The lower support channel is around the 93 fib support.
MA-the longer Ma support is around the 93 /89 zone. So that zone is a high prob reveral zone.
Conclusion - weakness in dollar means good for the emerging equity mkts. Good for commodities and of course precious metals. So focus on them.
Elliott- thats a zig zag corrective pattern. The C leg which is very fast and steep is underway.
Fibs- Two tgts one at 96 and the other at 93. We will look at our indicators at these zones for reversal.
Channel - The lower support channel is around the 93 fib support.
MA-the longer Ma support is around the 93 /89 zone. So that zone is a high prob reveral zone.
Conclusion - weakness in dollar means good for the emerging equity mkts. Good for commodities and of course precious metals. So focus on them.
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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.