DXY, Formed Ascending-Wedge-Formation, Important Considerations!

Hello,

Welcome to this analysis about the US-Dollar Currency Index, we are looking at the 4-hour timeframe perspectives. As I recently discovered the index is forming a very important formation that will determine further conclusions. As when looking at my chart now we can watch there how the Index has emerged with this major ascending-wedge-formation and also already completed the coherent wave-count within with the 20-MA in red as resistance. When the index from this point right away increases with bearish price-action this will lead to a breakout to the downside and therefore completion of this formation to the downside which on most occasions is a bearish formation. Once the index moved below the lower boundary and closed there as it is marked in my chart it will complete this whole formation and activate the lower target zone marked in my chart in blue from where the situation needs to be elevated anew.

In this manner, thank you for watching my analysis, have a good day, will be great when you support it with a like and follow or comment, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

Information provided is only educational and should not be used to take action in the markets.