DXY is trading in a 2 week range and a break seems inevitable. Bulls have been in control of the dollar over the past 2 weeks and i can picture a bearish week for DXY predicting that prices may be heading to 92.000 or lower.
harmonic pattern has formed signaling bullish movement to come
Rsi is over sold
WAITING FOR A BREAK OR A CLOSE ABOVE 1.1850...
us dollar bulls are currently taking control of the market in result of the june CPI data.
harmonic pattern has formed on the USD/JPY chart
waiting for price to break the 110.709 resistance line before entering long.
if us bulls were to continue to control the market and rise then the next area of interest would be around 112.145
RSI has bottomed in the oversold area meaning it it set to make a new high.
stochastics is also making its way above the 20 oversold levels.
MACD is also pivoting towards the positive zone.
Hoping the bulls will send the price to the 1.39520 resistance line where price will break and continue to rally upwards.
In the bearish scenario, if the bulls fail to breach...
Harmonic/M pattern needs to be considered as a reason for possible price reveresal to the uptrend.
While there is a high probability that the price will continue to fall considering the bearish trend, the M-formation is a chart pattern that has a high completion rate.
There is an equal probability that we will see a continuation of the downtrend however this will...