On a monthly basis we can see a flat brake out of a wagging wedge chart pattern . The dollar is in distribution congestion zone preparing to drop significantly !!! The RSI is in the overbought zone The first major resistance is 80-81 area- this is the expected pullback to the trend line. The second major resistance is the wagging wedge apex. The apex of a chart pattern is usually very strong support level.
Comment:
n a monthly basis we can see a flat brake out of a wagging wedge chart pattern . The dollar is in distribution congestion zone preparing to drop significantly !!! The RSI is in the overbought zone The first major support is 80-81 area- this is the expected pullback to the trend line . The second major support is the wagging wedge apex. The apex of a chart pattern is usually very strong support level .