Forecast for 07 Mar 17
Comment:
Comment:
Comment:
Early trading 27 Mar 17. DXY opened with a huge gap testing 99.33/99.27 almost immediately. It did bounce off that resistance but this looks a motive to go for 98.62. Wave 3 ended 22 Mar 17 and wave 4 ended today with the price briefly dropping out of megaphone. Danger is that once current cycle ends (likely around 98.62), the bounce back will be limited at then resistance around 99.27/99.33. That will open a door for a down cycle II to around 96.57.
There is a significant risk to protracted decline to levels currently inconceivable.
Have a look
There is a significant risk to protracted decline to levels currently inconceivable.
Have a look
Comment:
GBPUSD failure to establish lower than 1.212 between 22/02 and 09/03 was a canary in the gold mine. DXY failure in regaining 104 is the confirmation in my mind that defecation has hit the rotary oscillator and that continued downtrend is in play.
