HuybenD

DXY False Break or begin of a new Down trend

TVC:DXY   U.S. Dollar Index
Market is at the bottom of a Bullish channel and is forming a bearish dark cloud cover on the weekly
Prior the market formed a bearish double top but failed to hold. Market found a strong level of support
at the top of the double top. I see the market forming a Bullish head and shoulders with the right tip at
the bottom of the channel.

I expect the market to have a false breakout and test the level of support one more time before the
continuation of the bull run. In doing so the market has formed a double bottom witch is a strong bullish singn.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.