Short

DXY Descending Triangle Pattern

Updated

DXY is forming a descending triangle today signifying further downward momentum is likely. Take note of the lower highs and continued rejection at this same level of support. This shows a lower amount of buyers at each rejection. It is likely due to this, support will break unless new buyers come in to place.

Note

Will Give Up on Pattern once price reaches 104.1 Will Not enter unless break out and retest of triangle bottom.

Order cancelled

Pattern invalidated.

Note

Will be watching 103.990-104.100 level closely as a break under may still be in the cards. Very strong level for sure.

Nicholas_k

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