GreenBoxTrading

DXY levels I'm watching...

TVC:DXY   U.S. Dollar Index
I'm using the hi/lo of the doji that printed on the week of Dec 12 as my levels of breakout/breakdown of Dxy. We all know doji's represent indecision and DXY is definitely showing signs of just that. Last week we printed a four price doji which is extremely rare and shows a high level of indecision between bulls n bears. I was surprised the DXY did not rally during the recent market sell off which could mean it will ultimately break to the downside in the short term. Since it is currently trading just under the 38.2% and just over the 50% Fib retracement levels it seems likely we will get a tag of the 50% level at around 102 before seeing a reversal to the upside. Interesting to note that 102 also happens to be an untested level of demand.

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