Tracking a seasonal change in Dollar strength that often occurs around this time of the year. Mid to late October or November, we usually begin to see some loss of strength/momentum in the dollar.
In this particular case, the DXY has also rejected off the 38.2% retracement, to be confirmed with a closure below 93.678. Noticeable intra-period action is also small relief that usually occurs mid-November to December (shown with black pen).
The previous idea of the "area of interest" is also valid, and has proven a decent pivot area in determining near-term price action. We may be returning to this area to finally resolve a longer term direction.
Not financial advice and always DYOR.
In this particular case, the DXY has also rejected off the 38.2% retracement, to be confirmed with a closure below 93.678. Noticeable intra-period action is also small relief that usually occurs mid-November to December (shown with black pen).
The previous idea of the "area of interest" is also valid, and has proven a decent pivot area in determining near-term price action. We may be returning to this area to finally resolve a longer term direction.
Not financial advice and always DYOR.
