strong support on the 1.618 fib, two large impulses
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H&S didn't play, strong resistance at 97.69 was broken. Now waiting to see if DXY will catch support at 97.69 or at the trendline. 100 in the sights? Still bullish outlook
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Hard bounce off 97.47
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Once again, playing on the trendline, nice spike for a direct hit. Currently attempting support at 97.33
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Trendline broken on H1, move down to next trendine or is this a fake?
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H1 shows break and rejection from trendline, downwards movement to next trendline looking more and more probable
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Still following this impulse from March. Finished off the week with a green candle off the trendline, where the 200 EMA also closely lies. This trendline has proven to be holding for quite a while now, but a ping off 2.382 and 2.618 could determine whether there will be more downside.
Comment:
Trendline holding but we have seen a nice double top here, with nice accumulation at both, especially the second top. Will still be waiting for signs of support on 2.382-2.618 following a potential trendline break, which could give away the bigger picture.