DXY: Dollar Reverses At Fib.618 Retracement: Downward Bias
17 days ago on a four hour chart I highlighted a bearish Gartley pattern in-DXY.
The DXY-has been weak ever since.
DXY-has retraced to Fibonacci .618 and has reversed to the downside.
Other indicators are weak, including the top three charts above (RSI, Vortex, phase energy).
This could explain the continued strength in-gold.
This could also explain the continued falling 10 Year T-Note yield.
The three items, weak-dollar, falling T-Note yield, and strong-gold are inter-related.
Good luck to you. Don.
The DXY-has been weak ever since.
DXY-has retraced to Fibonacci .618 and has reversed to the downside.
Other indicators are weak, including the top three charts above (RSI, Vortex, phase energy).
This could explain the continued strength in-gold.
This could also explain the continued falling 10 Year T-Note yield.
The three items, weak-dollar, falling T-Note yield, and strong-gold are inter-related.
Good luck to you. Don.