DXY just printed 3 red soldier pattern on the 1day chart

20 Ağu 2024

3 red soldiers, also known as 3 black crows, is when the price action forms 3 candles in a row of similar body length with very small wicks on both ends of those candles. This usual signals that there is more downside to come. We can also see here that we have now closed to full candle bodies below the ascending channel for the first time. The measured move breakdown target from the channel is at $96. I would not be surprised if we saw a dead cat bounce back up to retest the bottom trendline of that channel as solidified resistance before the full breakdown Also of note is the 200 weekly moving average (not shown here) is currently around 100.25 so that could provide at least temporary support before it reaches the full breakdown target of the channel. *not financial advice*

12 Haz

Not

The candles did a fakeout and went back into the channel, until eventually having the real breakdown starting this April. the breakdown target had to be dusted higher because of the channel being a rising channel and so just yesterday.The readjusted target was 97.6