cuaunt

DXY closing right above Monthly levels, Breakout or reversal?

INDEX:DXY   US DOLLAR CURRENCY INDEX
DXY just closed this friday above monthly level where we are as well touching a bullish trendline subdivition. Friday news melted te price into this level, and expecting more price action from news today. Must be alert for 2 posibilities

1st - We could be looking at the reversal point for 2 options heading all the way up to upper trendline or to weekly level to forma a head and shoulders bearish pattern.

2nd - This might be the breakout that brings the USD to the ground.
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.