EvanJones
Short

H&S Pattern on Dollar Index

TVC:DXY   US Dollar Currency Index
36 1 3
The Dollar Index             has fallen out of favour with many investors, partly due to disappointing economic data and the FED talking the dollar down.

A nice H&S pattern has emerged and if one of the trendiness breaks then this would make for a great shorting opportunity. The RSI and trend wave has some distance to go further downs the move is backed by some momentum. I expect Wednesday's FED minutes to be a key driver here.

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Just an update, this looks to have completed the breakdown of the neckline from the H&S pattern. Given the FOMC minutes are out later today, tis wise to stay out of this pair and any correlated USD pairs for today.
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