Expanded Flat ?
A weekend glance at the DXY on the daily chart shows a three-wave ABC decline from a high @107.27 to below the Daily internal fib retracement of 38.2 % @104.27 down to a close on Friday @103.74.
On the 4-hour chart, the price has hovered around the Daily 38.2 % IR performing close and retest while appearing to create the start of a possible Expanded Flat. Should we see the price attempt to move higher off of 103.74 and back above the 38.2 % IR @104.27 we will anticipate a move much higher up to the 161.8 % fib price projection to target the 50 % FVG.
On the 4-hour chart, the price has hovered around the Daily 38.2 % IR performing close and retest while appearing to create the start of a possible Expanded Flat. Should we see the price attempt to move higher off of 103.74 and back above the 38.2 % IR @104.27 we will anticipate a move much higher up to the 161.8 % fib price projection to target the 50 % FVG.
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