OlumideOgunbiyi

OlumideOgunbiyi

On the 4h chart, we can see the dollar index forming the wedge. So far, we have seen 2 rejections at the top of the trend line. Now, we are waiting for another rejection on this trend line, which is also a resistance and an overbought zone on the RSI. We would also be looking for a bearish candlestick pattern to confirm this reversal before shorting the index. If...

OlumideOgunbiyi

We have been able to see the wedge complete its formation and its confirmation of the test and retest of the trend line. Now we would wait for prices to push back up and gain momentum towards 1.1425 for a 30 pip move to the upside.