chsmit

DXY Dollar Index Bearish

TVC:DXY   U.S. Dollar Currency Index
Earlier this week the DXY has tested the support line and jumped off it.
It has now retraced 50% of that move.

If we test the yellow support line again, we have a right shoulder of the bigger pattern, and a completed head for a smaller head & shoulders (as part of the right shoulder of bigger pattern).

This is bearis for the dollar...great for gold .

Comments

possible to see more continuation, but it's important to say that at the moment we are at a very strong support area on the daily, and we could see a rejection from it, the 90.50 zone
+1 Reply