faisalkamran11

faisalkamran11

DXY is on the brink of regaining its support level 1. Although fundamentally it lost a great deal but it seems USD is trying to regain the lost ground. Hence the decrease in corresponding instruments will be noticed that are in pair with USD.

faisalkamran11

As the RSI is going up so a LH is expected as per Fibonacci as indicated in the graph and then followed by LL.

faisalkamran11

In order to take a breather from current crash gold will form a LH and the levels are indicative in the chart.

faisalkamran11

As the USD Index is in uptrend so reasonably the EURUSD is in downward trend until it breaks the level 1.6153.

faisalkamran11

DXY or USD Index is a indicator of performance of USD against a basket of other foreign exchange currencies. We have applied Dow theory to the index chart as can be seen above and it indicates that currently levels are key on the future direction of the DXY. Currently the DXY is in downtrend and if a key level of 104.678 is broken then we can have a upward trend...

faisalkamran11

Following Dow Theory of Technical Analysis it can be noted that bullish trend is on the advent currently. A first cycle of Higher Highs and Higher Lows recorded which might indicate a trend reversal in Gold to USD. The key level will be 1849 which if broken then it will confirm the bullish trend.