Timonrosso

DIXIE looking horrid and next target 96.40

Short
TVC:DXY   U.S. Dollar Index
Head and Shoulders has formed on Daily. It didn't even complete a decent looking right shoulder, which shows how strong the bears were to push the index.
Moving averages are all bearish with 200 >21 > 7 MA.
The interest rate hike has shifted attention to possible inflationary measures in the future for the US.
This has resulted in Investors taking their money out of the US Dollar and putting it in Euro...
So the first target is 96.40.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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