After reversing from the very strong confluence support at 94.50, DXY made a new high above 97.
However, what should have led to continuation proved to be a false break and we have an Evening Start candle formation which marks strong resistance.
Yesterday the index also has broken down under the ascending trend liner and now is facing support on what can very well be the neck-line of a double top.
A break under this support would give us confirmation for the pattern and could lead to further losses towards 92 support.
However, what should have led to continuation proved to be a false break and we have an Evening Start candle formation which marks strong resistance.
Yesterday the index also has broken down under the ascending trend liner and now is facing support on what can very well be the neck-line of a double top.
A break under this support would give us confirmation for the pattern and could lead to further losses towards 92 support.
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🎯 Want More Trading Ideas?
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