nmike
Short

DXY weekly (update)

INDEX:DXY   U.S. Dollar Index
894 12 5
DXY             is showing a Head & Shoulder pattern and has broken the top (trend line) of the blue channel.Failure to hold at bottom of reference channel the next target is the first support line or the bottom of blue channel. Blue dots are pivots used to draw channels.
peterstarcok
3 years ago
to confirm HS must be break neckline 78,65
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nmike MOD
3 years ago
...back above blue channel....bullish bias,likely to move up to nearby resistance....
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nmike MOD
3 years ago
....DXY finished the week at KEY RESISTANCE, if trend continues DXY is likely to hit the top of REFERENCE channel
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nmike MOD
3 years ago
....update....a nice clean break above resistance, next near term target likely to be the top of reference channel
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If you double cloned the ascending channel, where would you run into the top of the square clone?
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nmike MOD
3 years ago
DXY currently at channel resistance , if we break to the upside next long term target is around 88
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So you also have dollar going to 88 .,. probably right
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time for an updated chart with new clone @nmike
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nmike MOD
3 years ago
...new CLONE has to added on top of reference channel
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Care to give another try at this one?
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nmike MOD QuantitativeExhaustion
3 years ago
@JR, the reference channel support / resistance worked out well and now the blue channel is acting as good support, currently price is above top resistance line therefore I consider it bullish at the moment. The Fisher / Trix sytem is showing an up move, if it breaks the trend line then most likely the 34ma or 82.4 is the next near term target
snapshot
+1 Reply
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