U.S. Dollar IndexShort
DXY Setup on the Daily
A strong case for a DXY short is starting to form, We have a 3 month head and shoulders pattern forming with a downward sloping neckline. Additionally price has failed to break the Resistance level @101.500.
One obvious negative is that the DXY is currently trading above the 50/60 ema indicating that in a uptrend.
Would recommend caution trading dollar pair as there is chance that the price is bear trapping traders before it has an explosive break to the Upside.
G
One obvious negative is that the DXY is currently trading above the 50/60 ema indicating that in a uptrend.
Would recommend caution trading dollar pair as there is chance that the price is bear trapping traders before it has an explosive break to the Upside.
G
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