- DXY is attempting a Bullish breakout of its descending trend-line resistance within its overall Bullish channel
- This move is occurring close to its Bullish channel support
TWO SCENARIOS:
1. Turns out to be a false break
- Would need to see clear move back inside trend-line resistance with Wick of candle above trend-line
- This COULD result in a bearish break-down of the overall Bullish channel
- Could just see a return to bullish channel support before the proper bullish break however
2. REAL BREAK
- Price would need to make a solid move above mentioned short term trend-line resistance on 4H/Daily chart
- We may then see price return either to its strong resistance at 97.00 OR see a move all the way higher to its
upper Bullish channel resistance.
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- This move is occurring close to its Bullish channel support
TWO SCENARIOS:
1. Turns out to be a false break
- Would need to see clear move back inside trend-line resistance with Wick of candle above trend-line
- This COULD result in a bearish break-down of the overall Bullish channel
- Could just see a return to bullish channel support before the proper bullish break however
2. REAL BREAK
- Price would need to make a solid move above mentioned short term trend-line resistance on 4H/Daily chart
- We may then see price return either to its strong resistance at 97.00 OR see a move all the way higher to its
upper Bullish channel resistance.
THIS IS NOT TRADE ADVICE NOR A TRADE CALL