DXY Approaching the top of a familiar Megaphone.

The U.S. Dollar Index has been trading within a Bullish Megaphone pattern since late June and is now approaching its Higher Highs trend-line with the 1 year Resistance waiting at 94.750. This is a familiar pattern as the very same sequence has been formed back in June - September 2018. As you see both patterns formed on a 1D Golden Cross (when the 1D MA50 crosses above the 1D MA200). Based on the 1D RSI, it appears that DXY is right at the top of the formation as on August 15 2018, building up a strong pull-back to the bottom of the Megaphone.


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