THE BIG PICTURE: The fib extension tool was used to measure points A to B. A forecast from the low at point C places the 100% level of the fib extension at 1.37.14 which seems a long distance away. Secondly the length of time it took to complete segment A to B was measure as well. The move was complete after about 38 bars. Taking a clone of the first measurement and placing it at the base of point C forecasts a D point right around the current price action.
THE TECHNICAL STANDPOINT: Although the price symmetry is not imminently within range, the time symmetry is. This opens the door for the potential of profit taking. Add to that the 120 level will be a psychological level of resistance. This ties in with the short DXY idea
THE TECHNICAL STANDPOINT: Although the price symmetry is not imminently within range, the time symmetry is. This opens the door for the potential of profit taking. Add to that the 120 level will be a psychological level of resistance. This ties in with the short DXY idea
