The DXY is trading inside a Channel Down with the 4H technicals naturally bearish (RSI = 33.732, MACD = -0.220, ADX = 19.580) and the RSI on LH. This could be similar to the November/ January Channel Down, only smaller as the RSI shows a similar pattern. Since the price has already reached the 2.618 Fibonacci extension, we will start buying USD aiming at Fib 1.0 (TP = 104.250) and then short again as that will bring us near the LH which is the long term Resistance.
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Disclaimer
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