Market move in an impulsive wave and correction wave
Let ask ourselves this question what is going to happen for the years coming ?
If we just follow market structure we can clearly see that dollar index is still strong and will probably continue to go high
Everything is shown on the chart
What do you think ?
DYX Index will be forming perfect AB=CD as C replacement is as point 0.5 on Fibonacci and on 15m chart its forming triangular pattern which is predicted to breakout and form bullish signal .
Precio Break And Retest zone and continued Up. Precio hizo break, espero un retesteo en la zona marcada para luego continuar subiendo, de hacer la rotura hacia abajo se invalida el analisis..
USDX bounced nicely off its 1st support at 93.74 (100% Fibonacci extension, 23.6% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing low support) where price could possible fall back to before rising to its major resistance at 94.49 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced nicely off its support...
