Dollar pair is following historic movement as you can highlighted in the boxed regions.
HISTORIC MOVEMENT SIMILARITIES
We have a small impulse (in black), followed by an ABCDE Pattern where the "A" and "C" form a Double Top
And the "B" point is a sharp break below the support of the "A and "C" impulse
And the "D" point is a higher low than all previous impulses
We have not yet reached point "E" which breaks the double top resistance if we do, and channel support is broken expect bearish movement to"D" support level (Boxed in red)
HISTORIC MOVEMENT SIMILARITIES
We have a small impulse (in black), followed by an ABCDE Pattern where the "A" and "C" form a Double Top
And the "B" point is a sharp break below the support of the "A and "C" impulse
And the "D" point is a higher low than all previous impulses
We have not yet reached point "E" which breaks the double top resistance if we do, and channel support is broken expect bearish movement to"D" support level (Boxed in red)
Note
Point "E" has broken Double Top
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.