Looking like the dollar is wanting to find a top after a nearly perfect 2/3 retrace from the 7/13/23 breakdown. This zone is extremely delicate and this idea can be invalidated quickly. Conventional wisdom would suggest that if this 2/3 retrace is exceeded, the entire gap should close to around 105.86.
Admittedly, the channel drawn is a little creative, but is useful in forecasting where DXY may head in the event of a bearish continuation.
Admittedly, the channel drawn is a little creative, but is useful in forecasting where DXY may head in the event of a bearish continuation.