This chart showing a very large cup formation ending with an upside head and shoulders. both formations are bulish. The dollar rally doesn't seem to be retracing and further upward move is expected.
The Major Resistance line at 1.0600 has been pierced threw to become a Major support.
A cup formation is confirmed with a market undecisive move this week we go sideways and form the handle.
This formation psychology is known to attract buyers.
38% Fib retracement level isat the cup base 0.9400. this formation started at 0.8700