I recently discussed the U.S. Dollar Index at my blog ragheehorner.com and used a specific Fibonacci Retracement to project potential support levels for the pullback in the greenback. Here I discuss how I draw fibos and alternate retracements to consider for the daily U.S. Dollar Index. //

There’s no doubt that the EUR/USD is correcting the downtrend. The trend continues to retrace and the 3rd significant headline – today’s coordinated ECB – SNB – BOE – BOJ – Fed intervention injected much-needed U.S. dollars into European banks.