TIme to have a look at the DXY, and we´re now trading close to significant resistance.
61,8% Fib comes in @ 97.83 (16´High - 18´Low), and we´re currently trading @ 96,80 - about 1% from 61.8%.
By breaking that level down in to the constituents of the DXY, we´re getting close to major chart support/resistance ( EUR/USD, USD/JPY +++ ),
and my experience tells me that we need more than an earthquake with tsunami breaking such levels.
Sell USD on strength going forward. We also have divergence in some momentum indicators (MA is not one of them), suggesting bulls are loosing some steam.
DXY
61,8% Fib comes in @ 97.83 (16´High - 18´Low), and we´re currently trading @ 96,80 - about 1% from 61.8%.
By breaking that level down in to the constituents of the DXY, we´re getting close to major chart support/resistance ( EUR/USD, USD/JPY +++ ),
and my experience tells me that we need more than an earthquake with tsunami breaking such levels.
Sell USD on strength going forward. We also have divergence in some momentum indicators (MA is not one of them), suggesting bulls are loosing some steam.
DXY
