INDEX:DXY   US DOLLAR CURRENCY INDEX
2
Last week was all about support. Strong weekly close and bullish engulfing with daily close above previous high formed very bullish reversal pattern – inverted H&S which is targeting previous supply at 98.40. It is yet questionable is this a pull back and resuming big TF reversal down to 93.00 again but the fact is that USD is short term bullish. I would expect some sideways move to confirm the breakout trend line and move up towards short term target at 61.8 Fib – 98.40. Close below 94.80 invalidates this setup.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.