Should dollar be higher than 96?
We are currently looking a big sell off in equities , the question in my mind at the moment is , shouldnt the dollar be alot higher than 96? and to be honest it should but then again we have to take it in phases because often the dollar does surprise .
if we go back as of the late 2016 the consolidation leading up to the dollar upswing of 103.80 we could have asked the same similar question, shouldnt dollar have gone alot higher after over 12 months in consolidation?, well our limitation was due to fib price ratios , lets have a broader view of this chart and pick a deeper perspective of this move we can see with an extension 103.8 was 61.8 of the move , chart will be below
On shorter term view extension indicates turning point around 96 mark for the dollar .
although will have to keep in mind for an upswing of the s&p which could push price upward of 100 with a potential double zigzag
if we go back as of the late 2016 the consolidation leading up to the dollar upswing of 103.80 we could have asked the same similar question, shouldnt dollar have gone alot higher after over 12 months in consolidation?, well our limitation was due to fib price ratios , lets have a broader view of this chart and pick a deeper perspective of this move we can see with an extension 103.8 was 61.8 of the move , chart will be below
On shorter term view extension indicates turning point around 96 mark for the dollar .
although will have to keep in mind for an upswing of the s&p which could push price upward of 100 with a potential double zigzag
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