a WEEKLY rolling fibonacci pattern overlaid on a daily chart shows the DXY to be in an uptrend - these weekly fibs have been quite accurate in defining the DXY movement in the past so I pay attention to them.
The dashed red line is the -61.8% retrace of the large monthly swing shown above. DXY has retraced all the way back to here from the 2008 lows. On a lower time frame this area is also at the current 0% point of a recent fib swing which - on my fibs - is usually a moment of pause. On my charts if DXY does not reverse around 101.66, 102.80 (green line -23.6% weekly fib) is my target.
These fibs are drawn automatically. The 100% to 0% white lines show the swing, yellow is the 50% retrace of the original swing, red is the 61.8% retrace, green is -23.6% of the original swing (negative retracement? extension?). A weekly close above the green indicates trend continuation and a new fib is drawn. close below red indicates trend change and a new fib is drawn with the green target line to the downside.
DXY again testing the 61.8 line of a multi-year move - it's been bumping heads against this level for a week now,