Further to the previous head and shoulders top pattern which met target, the DXY is setting up for a larger downside pattern.
I posted the chart pattern in the link below (refer comments section) just as the neckline broke out. Sloping necklines perform really well, so expecting a nice drop.
This really does spell trouble for the US Dollar and could be a major turning point. What will this mean for Bitcoin and the crypto market?
I've been bullish on EUR, USD and GBP pairs until at least we reach the target at 94.16.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
I posted the chart pattern in the link below (refer comments section) just as the neckline broke out. Sloping necklines perform really well, so expecting a nice drop.
This really does spell trouble for the US Dollar and could be a major turning point. What will this mean for Bitcoin and the crypto market?
I've been bullish on EUR, USD and GBP pairs until at least we reach the target at 94.16.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Comment:
Looking to long against USD pairs if it breaks the neckline. Haven't shown targets to the downside. This could get ugly for USD.