3rd Technical Approach On #Speed Price Support & Resistance on DXY
The tech approach selected in this case is to apply the Fibonacci Fan Speed Price Resistance / Support projected fan levels where one can find the median line have been drawn from the lowest to the highest price pint of reference. Which also includes the declining channel from the US Dollar's turning price reversal at its high levels 100.49 figure projected towards the two succeeding lower highs.
The similarity between the Gann Square and choosing the Fibonacci as the most effective tech tool to apply has been proven time and again. It is knowing which of so many tech tools to apply is the key. Seldom does such an approach is applied on trading; due to the speed and volatility that the price action has made after absorbing the fundamental reports released. The color coordination would simplify the analysis as described on the chart.
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