DXY POTENTIAL HEAD AND SHOULDERS AT KEY RESISTANCE
We have been looking for the USD to sell off this week due to FED Chairman Powell less hawkish position on the US economy and the false break of the $97.00 resistance.
Looking at the daily chart here we can see that the market may be looking to re-test the $97.00 resistance and if we are to see the USD sell-off we should see this pattern
complete. A break of the low around $96.00 will be enough to see the market form a daily lower low giving us a better idea of further downside.
Looking at the daily chart here we can see that the market may be looking to re-test the $97.00 resistance and if we are to see the USD sell-off we should see this pattern
complete. A break of the low around $96.00 will be enough to see the market form a daily lower low giving us a better idea of further downside.