FOREXEL
Long

USD DOLLAR - Waiting for pullback - Chart 2/3 - Renko style

FX:USDOLLAR   Dollar Index
12 0 2
Current ongoing leg is leg one out of 3. No pullback have begun just yet.

Since USD have completed a 3 leg downside movement after hitting fib 1.618 in the middle of April and hitting 0.618 - one can now see that it is going for 2.618 (not visible on chart) aim for 12200 for now.

The USD is now approaching a supply zone which should trigger the first pullback on this 3 leg movement. Once it starts then the below Demand zone @ 11850 ( ish             ) should hold and allow a re-entry long. If it doesnt hold then this analysis is invalidated.
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