unityfxlife

Incoming dollar death, after pullback!

Short
INDEX:DXY   US DOLLAR CURRENCY INDEX
Our view on the DXY monthly chart here shows expectation of pullback to retest broken ascending parallel channel, followed by the next bearish decline towards monthly target 1 at our -27.2% Fibonacci extension level. We will then of course need to retest the broken support level of 88.00 before making final push down to 78.5 at the end of 2021. This final target area of 78.5 is confluent with -61.8% fib extension, key support zone and also retest of a broken symmetrical triangle (shown with blue trendlines).
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