Multiple broken channel + head and shoulder formation .
both, the channel and the head and shoulder formation has been retested at this point.
expecting a little consolidation before a break out to the the downside.
If you thought the dollar was on its way to a new high, think again!
Last week, the dollar was on a strong uptrend until it stopped at the resistance line at $ 98.3 and started to fall.
The Stochastic also indicates a trend change or a trend ending.
The Ichimoku Cloud Indicator changed to a red cloud meaning a bear cloud
Target: 97.5
A bearish trend on the daily graph according to the Ichimoku Indicator.
The dollar failed to generate upward momentum and returned to fall, the dollar entered the range between 95.4 and 97.4, because of our proximity to the resistance line and the other reasons stated above our recommendation is to sell.
Target: 96.2
DXY approaching support at 97.13 where it could potentially rise further to 97.86.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
DXY bounced off 97.59 where it could potentially rise further to 97.90.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
DXY bounced off 98.68 where it could potentially rise further to 99.67.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
If it does goes down strongly, it will confirm the bearish view and the top is in at least for the short term
Should find out in the next few sessions if usd bears have taken over
We are in a bit complicated situation, the dollar that broke the resistance line at 98.3 came back down (the dollar was supposed to accelerate the momentum of breaking) and then again broke the resistance and again came back down, the dollar refuses to choose a clear trend and this is a confusing situation.
The general trend is bullish.
Although our bullish trend,...
The positive trend continues.
As you can see, the dollar stopped at the resistance line, and there are 2 scenarios:
1. The dollar will again fail to break through the resistance as it failed the previous 3 times and will come back down.
2. This time the dollar will break the resistance and increases will accelerate.
We think the dollar will fall back to 97.4 and...
Because the pattern created on the dollar this week will be critical.
As you can see in the last weekly candle, he created an inverted hammer that usually comes to announce a trend ending so it will be confirmed the upcoming candle should be red.
The dollar's inability to break resistance at 98.3 for the third time is a sign of weakness.
And with all that, one...
