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travelingpm

DXY to Continue Correction

Short
U.S. Dollar Index (TVC:DXY)  
travelingpm Updated   
TVC:DXY   U.S. Dollar Index
DXY dollar DJ FXCM Index USD XAUUSD Gold GC
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dxy dollar usdollar usd xauusd gold gc
DXY's recent low did not bounce from a major fibonacci level...rather just short of one. Based on two fibo-fans I'm looking at a further move down, first to 99.18 then to 97.80.
Comment:
Comment:
Thinking we may see an inverted cup and handle instead.
Comment:
Lesson on this one...don't use fibo fans to forecast. Fibonacci will work across many end points. Use swing high to swing low, printed start and end points.
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