DXY - 4H possible scenario

DXY – 4H

We still have our target of around 92.00. It seemed like DXY was going to go for it last week but it created a double top on the 4H timeframe just before NFP on Friday.

At the moment its left a double top around 91.60 and a right shoulder that needs to be tested around 89.40. Where it goes first will depend on 91.18 level, it could create a H&S there and complete the whole move back down.

Breaking that level, the next stop is the double top retest (91.40 level).

Its broken out of the trendline which tells me its likely to test the double top and then maybe drop further down over the course of the next 2wks.

As always, trade safe.