Bearish Crab Pattern Forming on Dollar Index (DXY)

Aug 13, 2018

After a few months of growing strength it appears that DXY may be preparing to slow down as it retests structure once again. A bearish crab pattern has began to form with lovely confluence, and a tight potential reversal zone centered around 97.87. Target 1 94.44 (.382 retracement) and Target 2 at 92.32 (.618 retracement). This movement could also help provide some insight on the movement and potential reversal of the various USD pairs as well.