Target: 170. What I see:
* short term descending triangle
* weak MACD almost going negative
* bearish flag on weekly charts
* DXY seems to have found support; may see a bounce with the recent market selloff into cash.
* needs to hold the ~~ 180 level which also happens to be near the 50 day moving average
looks like it is going to break through on the downside to me.
* short term descending triangle
* weak MACD almost going negative
* bearish flag on weekly charts
* DXY seems to have found support; may see a bounce with the recent market selloff into cash.
* needs to hold the ~~ 180 level which also happens to be near the 50 day moving average
looks like it is going to break through on the downside to me.
Comment:
noting there has been quite a surge in the dollar and this chart on a daily and weekly basis continues to look poor. we are getting close to the 170 target; depending on how fast we get there it is worth re-evaluating/closing around there.
