Weekly Forecast Dow Jones Dollar
Hi guys here is my analysis of the Dow Jones that I use as a base when looking at my FX pairs.
When taking a Fibonacci Retracement from the huge downside leg, price has not came to the 38.2% yet, which lines up with the long term trendline
When taking the smaller Fib Retracement, there is STRUCTURE around the 61.8% level. I could see the Dollar moving down towards this level before moving higher. If price breaks this 61% Fib level, I could see price move further down to the form the double bottom
When taking a Fibonacci Retracement from the huge downside leg, price has not came to the 38.2% yet, which lines up with the long term trendline
When taking the smaller Fib Retracement, there is STRUCTURE around the 61.8% level. I could see the Dollar moving down towards this level before moving higher. If price breaks this 61% Fib level, I could see price move further down to the form the double bottom
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