Type: Bearish ContinuationKey Levels:Resistance: 103.265Pivot: 102.380Support: 101.985Preferred Case:With price moving below the Ichimoku cloud , we have a bearish bias that price will drop to our 1st support at 101.985 in line with the 100% Fibonacci projection from our pivot at 102.380 in line with the horizontal overlap resistance and 61.8% Fibonacci retracement .Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance, -27.20% Fibonacci expansion and 50% Fibonacci retracement .Fundamentals:In the face of strong inflation , Bostic emphasized that two 50-bps raises at forthcoming Fed meetings are still realistic. We have a Mixed-to-Weak Bearish view on the index.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/u-s-dollar-index-future-dx1-h1-potential-for-bearish-drop"
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