Dollar short view 1D TF, Fibonacci setup
This analysis shows how the dollar index moved and how it grew in the last 12 months.
The dollar has been on a strong bullish trend in the last year, and the confirmation is that the withdrawal failed to break the Fibonacci level of 38.2%.
Based on that, we can conclude that the dollar will continue to retreat first to the Fibonacci level of 23.6% (101,490), and if it breaks below, it will drop to the level of 38.2% (99,205).
The dollar has been on a strong bullish trend in the last year, and the confirmation is that the withdrawal failed to break the Fibonacci level of 38.2%.
Based on that, we can conclude that the dollar will continue to retreat first to the Fibonacci level of 23.6% (101,490), and if it breaks below, it will drop to the level of 38.2% (99,205).
