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TFC Commodity Trading Forum

U.S.$ Index/Testing Short Term Support *PIC*

DX topped out at 81.50 resistance and spun its wheels there for 7 days before selling off and breaking its uptrendline from Oct. Price has now pulled back to the Nov high support area at 79.87 that it successfully tested mid Dec and early Jan and is testing it once again. So far the pullback has been very mild and price is trying to bounce back. Odds favor a further pullback to the Fib 38.2% to 50% retracement area after a bounce. Meanwhile inverse markets will simply continue to trade inverse with DX leading the way as usual. The tail does follow the dog.