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ScotianBot
Oct 21, 2020 6:02 PM

Descending Triangle for DXY? 

U.S. Dollar Currency IndexTVC

Description

Notice the RSI is displaying a bearish descending triangle pattern, similar to the price action, and on the KST there's a noticeable bearish cross which will potentially end up the right shoulder of a H&S pattern.

We have seen the blue baseline of support on the RSI hold for the time being.

The 3 blue finger icons on the left side of the chart represent a triple bottom that played out bullishly, I have placed two more blue finger icons to hypothetically represent a future similar outcome, and the third bottom is a question mark icon.

Comments
Abuhiba82
similarly on the daily frame too.
Abuhiba82
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