Dollar Index -22/01/2023-
• Dollar gave up most of its gains for the summer
• We are trading inside a bearish descending channel
• Sellers successfully broke below the 50% Fibonacci retracement of the whole uptrend
• Death cross adding to the bearish picture
• Next target is the 101.32 support followed by 100 round figure and 99.40 (61.8% and March 22 resistance)
• We are trading inside a bearish descending channel
• Sellers successfully broke below the 50% Fibonacci retracement of the whole uptrend
• Death cross adding to the bearish picture
• Next target is the 101.32 support followed by 100 round figure and 99.40 (61.8% and March 22 resistance)
Ramzi Abou Abdallah, CFTe, CMT
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