Short from 1.18.
Break of important resistance.
Break of HeadnShoulders Neckline.
DXY Broke inverse HeadnShoulders Neckline.
Further rise of Dollar expected due to potential stonk market correction.
Looking for extention to
1.17 (TP1)
1.16 (TP2)
Be aware of the descending wedge that is forming below resistance now. That could potentially cause a false break to the upside/sideways movement.
Good Luck!
Break of important resistance.
Break of HeadnShoulders Neckline.
DXY Broke inverse HeadnShoulders Neckline.
Further rise of Dollar expected due to potential stonk market correction.
Looking for extention to
1.17 (TP1)
1.16 (TP2)
Be aware of the descending wedge that is forming below resistance now. That could potentially cause a false break to the upside/sideways movement.
Good Luck!
Potential Double bottom at 1.1760 area causing a probable break to the upside out of the descending wedge again (eventually invalidating that descending trend line)! Here it might retest 1.18 again and then fall down to 1.17.
That would mean a prolonged holding duration, but would not invalidate the plan.