The dollar looks to be in a rising wedge formation (bearish set-up). The RSI is also running out of steam with lower highs. It could bull trap above the wedge before breaking down with a wick or two. It could also simply topple over soon and end up falling out the bottom trend line. Looks likely to decide by early November.
Remember, a falling dollar is good for cryptos and safe havens such as metals.
Remember, a falling dollar is good for cryptos and safe havens such as metals.
Note
Looks like the dollar has bull trapped (as I warned it could).RSI now looks to have triple topped while making this higher high in price - bearish divergence.
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I love it when a plan comes together.Note
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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.