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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.


DXY EURUSD GBPUSD USDJPY GOLD:  Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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