- We can observe some interesting price action with DXY.
- Price made a LL after breaking the last consolidation area' low.
- Price formed a double top pattern and then dropped 100% again with a strong bearish movement.
- Price started retracing in an ascending channel after reaching 90.000 (Major S).
Price now at the golden fib zone and already made a very long engulfing pattern on weekly timeframe.
- We we wait for the price to break this ascending channel and after the retest we have a confirmation for a big bearish movement.
- Price made a LL after breaking the last consolidation area' low.
- Price formed a double top pattern and then dropped 100% again with a strong bearish movement.
- Price started retracing in an ascending channel after reaching 90.000 (Major S).
Price now at the golden fib zone and already made a very long engulfing pattern on weekly timeframe.
- We we wait for the price to break this ascending channel and after the retest we have a confirmation for a big bearish movement.