The DXY start descending since Jan 2017, and now it's time for the prolonged drop to rebound. use Fibonacci retracement 38.2%. the DXY will hit 94.10. so we should be heading a rebound of USD for at least 2-3 months.
A down trend impulse leg has been seen from 103.9 to 88.04. so we should expect a more downside for DXY after this 2nd wave rebound.
From cycle analysis the DXY should hit the bottom around May-June 2023.
A down trend impulse leg has been seen from 103.9 to 88.04. so we should expect a more downside for DXY after this 2nd wave rebound.
From cycle analysis the DXY should hit the bottom around May-June 2023.
评论:
the rebound go beyond 94.1. however it's not be able to close about 95 and actually . In April comment claims a 2-3 months rebound and now it's due to correction. we should target 93.5-93. It's trying to form a right shoulder. but as we are looking for a a-b-c rebound pattern the right shoulder like area should be a good place to long DXY again.