Journey to the upside resumes. On monthly chart it's huge June engulfing green candle is showing it's power of support to the upside. On weekly, it continued to create higher lows despite of past 2 week's of downtrend movement. On daily, it was near the edge of breaking out from newly formed uptrend channel, but managed to bounce back up in the past few days.
The September bounce reversal point was roughly at 0.382 fib retracement of this year's gain (low Jan to high August), so if DXY can maintain it's position, break through 92.655 and stay above, I believe we'll see a green week and potentially more.
Entry: 92.520 or 92.685
SL: 92.291
TP :ultimate at 93.723; reasonable at 93.173
however 92.865 is an immediate resistance, with next at 93.173 and ultimately at 93.723 - If it does reach 93.723 which is very challenging, a deep retracement should happen immediately after breaking it.
Expected: 1 week
The September bounce reversal point was roughly at 0.382 fib retracement of this year's gain (low Jan to high August), so if DXY can maintain it's position, break through 92.655 and stay above, I believe we'll see a green week and potentially more.
Entry: 92.520 or 92.685
SL: 92.291
TP :ultimate at 93.723; reasonable at 93.173
however 92.865 is an immediate resistance, with next at 93.173 and ultimately at 93.723 - If it does reach 93.723 which is very challenging, a deep retracement should happen immediately after breaking it.
Expected: 1 week
