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TFC Commodity Trading Forum

U.S.$ Breaking Down from Consolidation *PIC*

DX sold off from 81.50 resistance and consolidated for about 8 days at the 79 level and is now breaking down again. All price has done since its breakdown from 81.50 resistance is typically rally back to its 20ema and selloff again. Until price can start 'closing' above the 20ema this downtrend will continue. And with this latest breakdown from consolidation the Euro and other inverse markets will continue to rally. DX is likely to continue to selloff to at least the Fib 61.8% retracement point just under 78. This is also the 200ema level as well. This should produce a good rally in all inverse markets for awhile. Seasonal trends in all time frames are bearish for DX from early Feb to mid March.