DXY Chart Technical Outlook

DXY (USD Index)Chart Technical Outlook – strong employment data from the United States resulted in a reversal in intraday sentiment and DXY trading to the highest level in 37 days. Although there is no clear indication of an immediate change of trend, we have a solid upside barrier between 103.94 and 104.00

  • 103.94 is the projected AB leg of a large daily Bat formation.
  • 104.00 is an AB=CD corrective formation.
    Correlation studies would suggest a limited downside for Gold.

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