DXY breached the resistance and going up now...! It will starts making a new higher highs in the coming days by forming a bullish channel
It may cause many pair's breakout herafter
As expected, DXY continued to gain strength and move south on the chart. DXY stands at the moment at 89.70 area and is heading for 90.50 move. DXY strength may be temporary, as a retracement of the longer term downtrend, and if DXY reaches levels of 90.50 but does not manage to break above this structure, we may expect a stronger move downwards.
THIS IS MY FIRST IDEA THAT IM PUBLISHING WILL TRY TO PUBLISH 2 IDEAS DAILY ON OTHERS ALSO LIKE CURRENCY GOLD BITCOIN ETC..
SO NOW LETS TALK ABOUT BUSINESS WHILE I WAS SEARCHING FOR TRADES I FOUND OUT A GREAT CYPHER PATTERN ON DXY YOU CAN TAKE A LOOK AT IT IN IMAGE
Below 92 lower targets
Stiff resistance@ 93.75-94.20
till not crossed trend to remain bearish
Retest of supports @ 91.75-91.50-91 likely
Break and close below 91 opens for further lower targets
Price trading below key moving average, trend to remain bearish
DOLLAR INDEX : ready to collapse ?
This can be a mother of H&S pattern that will have ramifications for the the stock markets, currency mkts and the commodities!! Tgt is 82. Expect Gold and Stock mkts to go through the roof!!
