DXY forms a Bullish Reversal Pattern

TVC:DXY   U.S. Dollar Currency Index
DXY             is forming the right shoulder of the inverted Head and Shoulders pattern.

Buy on Neckline breakout.

Comment: Right should is now well developed. To take a trade i would wait for the neckline breakout.
Comment: In a smaller time frame, 4hr chart, RSI broke out of the down trend which give a good indication that DXY is heading for the the neckline of IHS.

Comment: RSI is in search for higher values on daily chart.

Comment: DXY formed a pin bar on daily. This should hold the bullish channel intact.

Comment: Approaching the downtrend.

Trade closed: target reached: I think DXY has reached the target or almost but I will call an end here.
Nice charts and trade layout with targets. Impressive.
Bandarsq archie123
Thank you. Cheer!.
Hope that daily pin bar would work well :)
summer6 summer6
96~97 would be nice to be seen
98 minimum as I see it.
summer6 Bandarsq
even better :D
I have so much faith in it :)
would like to see it hit 94.90 which would be gold around 1348 and then enter short for a move down which would be like DXY to 98.40 oh that would be nice, nice chart btw
DXY is getting closer to neckline. Cheers mate.
+1 Reply
albertwt Bandarsq
Hi Bandar,
Can we say that the correlation between DXY and XAU is the reverse ?
so if DXY is bullish, then XAU is bearish vice versa....
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