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Yagub True Fibonacci shows S&R levels 2.618 support and could rally to the upside upto 4.618 with a good 3.76 RR ratio.
The US trade currency with JPY contributes 13.6% weight in the DXY and aswe expect DXY to strengthen further we expect a bull rally in the long term.
Auzzie is on the long term bear and you can take this short term analysis on the hourly with 1.5 RR ratio.
The outlook continues to be supported by the low level of interest rates.
As the range is broken, we sill most likely see the DXY hit the target zone between 105.41 to 105.79.
A pull back shoul be considered going further down to 50% of the range before finally going back up to the target zone.
Excerpts from Chair Janet Yellen Speech At The Executives' Club of Chicago, Chicago, ...
Wait for price actions @ 112 price level.
112 price is a psychological level
2.618 Fibo Level
RSI and MACD are still in a long position
This pair is expected to retrace for a minor correction and will continue to dive further.
CLOUD COVER WITH RESISTANCE @ 1.618 FIBO..
Bullish Engulfing with 61.8 fibo target.