DXY in a megaphone, possible completion scenarios!
Hello my beauties.
DXY has formed a massive megaphone, specifically a bearish one after an uptrend.
The completion area for a bearish megaphone that comes after an uptrend is the beginning of the formation itself, which I evidenced in green.
The Dollar Index might turn out to be very bullish in the next few weeks/months, as it has just retested the bottom line of the pattern. However what worries me is the fact that it showed a bit of weakness, as the test broke below the trendline and from experience I can say this could indicate an upcoming breakout to the downside.
If the support holds, then we'll be long dollar for a while.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
DXY has formed a massive megaphone, specifically a bearish one after an uptrend.
The completion area for a bearish megaphone that comes after an uptrend is the beginning of the formation itself, which I evidenced in green.
The Dollar Index might turn out to be very bullish in the next few weeks/months, as it has just retested the bottom line of the pattern. However what worries me is the fact that it showed a bit of weakness, as the test broke below the trendline and from experience I can say this could indicate an upcoming breakout to the downside.
If the support holds, then we'll be long dollar for a while.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.