The combination of RUT and DTX has created a rising wedge. Price has broken down out of the wedge. These two indices are known to lead the broader market, so their topping in early June is interesting. Price topped in coordination with an RSI divergence before breaking down from the lower trendline of the wedge. This seems to have a good chance of going...
ETHUSD appears to be completing a head and shoulders pattern that started back in February. This will likely result in a large decline in ETHUSD.
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As seen in the attached related idea, GBP should go substantially lower due to a large head and shoulders pattern. However, in the short term, it appears that GBPUSD will probably rise in a small fourth wave, then decline to a new low in a fifth wave, before a fairly large rally. This rally will then likely be followed by a very large decline as GBPUSD continues...
BTCUSD is testing the support shelf again. This support shelf has been developing since January or so. It appears that BTCUSD will likely break it this time and fall substantially.
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GBPUSD has broken down through the neckline of a head and shoulders pattern developed since mid-April. This would indicate a substantial decline ahead, and a strengthening of ICEUS:DXY . This is similar to the head and shoulders pattern seen in EURUSD. (See my related idea on EURUSD).
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It appears there is a head and shoulders developing in EURUSD. The market bounced off the neckline but is likely to retest it soon. It is likely that a significant breakdown will follow. As EURUSD is a majority of ICEUS:DXY , ICEUS:DXY is likely to strengthen.
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