DXY still down ?

31 Mar 2017

Hi Traders, DXY could form a Gartley pattern, with target around 97.5. Head and shoulder pattern failed to breakout, this maybe because of the gap, that we have a retrace first. I see a lot of resistance ahead around 100.65, Target could be the 1.61 Extension of the last leg, forming a nice pattern. Notice also, that dxy is still in the channel for more downside. After completing the pattern, we could see a re-test of old channel.