DXY💵 bear flag
Updated
Hey everybody!👋 Today we take a dive into the U.S. DOLLAR CURRENCY INDEX chart. Price broke down out of the consolidation after initial impulse down. Price action created sort of bear flag. Recently we jumped back up into the consolidation zone, so let's see if the move down was just a fakeout, or actually real break and the bear flag is really what is going on here. Breaking the swing low would mean confirmation and then I would expect further fall down to bear flag target @ 104.42 which is near uptrendline (zoom out to see it whole). Support zone 105.8-105.5 along the way. Breaching 107.36 (consolidation high) would mean invalidation of the pattern.
What is your take on Dixie price action? Let me know in the comments. Enjoy the rest of weekend!
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
What is your take on Dixie price action? Let me know in the comments. Enjoy the rest of weekend!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
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Bear flag pattern invalidated as price reached the consolidation high level.
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