Dollar Index Tests Neckline Of Inverse Head & Shoulders Pattern

TVC:DXY   U.S. Dollar Currency Index
The US Dollar Index ( DXY ) has been able to trace-out a big inverted H&S pattern, but just hours ago, failed at the pattern's neckline. While this could set-up a more precise breakout, it could also set the stage for a dip back towards the right shoulder's potential base in the 92.5/75 region. The same pattern ( H&S ) is also visible on daily charts for the EUR/USD , the largest component of the DXY . This is relevant, because both of these patterns are setting up ahead of a key news event, namely the ECB announcement tomorrow. Either way, price-action in both the DXY & euro should provide clarity to whether these patterns will be confirmed or not.
Comment: Neckline Breached!


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