themarketzone

The Gartley pattern shows that the USD correction isn't over yet

INDEX:DXY   US DOLLAR CURRENCY INDEX
This Gartley pattern I mentioned over the last few weeks in Dollar index             reached target 1 and bounced back to the structure zone (97) that should act as resistance now.
Beside hitting target 1, the index also broke below a daily trading channel.

The support was found after hitting the 38.2 Fib level and the 50 SMA line.
The small pullback can end soon by the structure zone, by the Fast SMA line or by the bottom of the trading channel and Dollar index             will probably continue lower towards secondary target level, near 95, to meet with its 200 days SMA line.

DXY very close to secondary target zone - Could be reversal zone here for USD
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