It’s rare when a target is reached so perfectly as it’s the case in the USDX right now. In yesterday’s analysis, I provided a lot of contexts for the current prices moves. Today, I’ll focus on the short-term price moves and I’ll start with the market where we saw the clearest, immediate-term indication: the USD Index. The Fibonacci retracement levels provide important support, and when a market reaches one of them, it’s likely to turn around. Moving below one of them makes a move to the next level quite likely (or to the other nearby support in case of declines). If the market reverses after reaching the 38.2% ... (full story)