Daily PA has formed a head and shoulders with heavy divergence in line with monthly resistance 1.415 and the descending TL. This is a POTENTIAL setup because price has not yet put in a lower low. Wait for price to break the CTL before entering short. Stops above the right shoulder with profits at weekly support, 0%, and -27% fib extension
US Dollar Index broke out of the ascending inner TL after forming a head and shoulder pattern on the daily timeframe. With Weekly MA cross-over as well, we could see a short term bearish pullback in the dollar. Pay attention as price reaches the neckline as it will come in contact with the ascending outer TL as well.