U.S. Dollar IndexShort
Head & Shoulders in formation - DXY
Updated
A H&S pattern is forming on the D1 timeframe on DXY. This also coincides with a possible Elliott Wave count as shown on the chart.
Entry will be after some confirmation of B wave being complete (aggressive), or after break & retest of the neckline (conservative).
Entry will be after some confirmation of B wave being complete (aggressive), or after break & retest of the neckline (conservative).
Note
Top of right shoulder may have been completed. Nevertheless I expect a choppy downtrend. A final higher high is also a possibility).
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