DXY EURUSD GBPUSD USDJPY GOLD Overview
DXY Dollar Index moved sharply higher, tested 90.15 upper line of the descending channel. It completed A Butterfly harmonic pattern and started the day with a retracement.
Our first article of today is about DXY. 90.15 resistance will be the determining factor of midterm EURUSD GBPUSD USDJPY GOLD prices.
If DXY continues its retracement and breaks below Fibo 61.8% of the latest bullish move we may see :
EURUSD above 1.23600
GBPUSD above 1.41000
USDJPY below 106.200
GOLD above 1.328
If DXY breaks above the descending channel we may see EURUSD pulling back to 1.20900, GBPUSD 1.39160 GOLD 1296 and USDJPY 108.400.
The picture is clear enough.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
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