This chart lays out the different potential pivot areas for a bounce in the #DXY. Each pivot zone could be correlated with an emotional level of the market. We can see that the DXY has not yet reached the 0.618 Fibonacci retracement level. This obviously does not have to happen, however this could potentially outline that we are currently coming out of the anger phase of the market and will move now into the depression phase of the market. If markets do better than, then I could see us moving down to the second pivot zone (The "Meh" Zone) which would move the market into a boring sideways sort of phase. Then, hopefully, a break of trend moving the DXY down to below the 0.236 Fib level (The "Happy" Zone), which may bring us into the beginning of new bull market. Then, a move below the last swing low could correlate with a new high in most equity markets.
**This is my opinion based off of chart data. This is not financial advice.**
**This is my opinion based off of chart data. This is not financial advice.**