TradingView
cheminacci
Aug 13, 2018 12:20 AM

Bearish Crab Pattern Forming on Dollar Index (DXY) Short

U.S. Dollar Currency IndexTVC

Description

After a few months of growing strength it appears that DXY may be preparing to slow down as it retests structure once again. A bearish crab pattern has began to form with lovely confluence, and a tight potential reversal zone centered around 97.87. Target 1 94.44 (.382 retracement) and Target 2 at 92.32 (.618 retracement). This movement could also help provide some insight on the movement and potential reversal of the various USD pairs as well.
Comments
cheminacci

cheminacci
Market has begun testing the order block region

cheminacci
Structure broken at 96.50. The market will look to test the 97.87 level where our potential reversal zone resides.

More