US Dollar Dominance seems to be back again
With cryptos having a tough time lately, it seems just apt to look at how US dollar is doing.
DXY seems to have formed a double bottom
USD/CAD seems to have formed an inverse head and shoulders pattern with neckline at around current level ($1.28), purple lines
Arguably, current area pattern is an ascending triangle, a bullish pattern, blue lines
MACD about to cross up
Looking at $1.34ish as initial target, then $1.40ish
Market seems to be risk-averse these days.
Stay safe!
With cryptos having a tough time lately, it seems just apt to look at how US dollar is doing.
DXY seems to have formed a double bottom
USD/CAD seems to have formed an inverse head and shoulders pattern with neckline at around current level ($1.28), purple lines
Arguably, current area pattern is an ascending triangle, a bullish pattern, blue lines
MACD about to cross up
Looking at $1.34ish as initial target, then $1.40ish
Market seems to be risk-averse these days.
Stay safe!
