DXY pullback to kick-off 1Q2024
The 5th leg higher over the December period played out as predicted in my previous idea (link below) and the index is currently testing the 61.8% Fibo retracement level at 108.73. The RSI index is however hovering in the overbought zone which may be an indication of the start of a corrective wave lower to kick-off the 1Q2025.
I expect the DXY to depreciate towards the support zone between 106.50 and 107.38 before the index makes another leg higher towards the 2022 high of 114.80. The support zone also coincides with the 50-day MA currently at 106.34.
I expect the DXY to depreciate towards the support zone between 106.50 and 107.38 before the index makes another leg higher towards the 2022 high of 114.80. The support zone also coincides with the 50-day MA currently at 106.34.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.