Analysis on the DXY DAILY & 4HR chart. Looking at the daily timeframe we can see that we are still respecting the ascending channel and just recently retested the 96.50 monthly support. If price closes inside the ascending channel we can expect to see higher prices, by looking at the technicals on this timeframe.
Moving down to the 4HR timeframe, we can see that we had a fake out to the downside retesting the 96.50 support and we have also retested the 97.00 psychological resistance. We are favouring a break of the 97.00 level, which could allow price to rally up to the 97.50 weekly resistance.
USDCHF; 1D | Possible Head and Shoulder formation 📉
Illustrated is a what could be the end of the right shoulder of this pattern.
Also, illustrated in Orange 🍊 is the way you can project this powerful pattern and how to trade it.
Best of luck!
دو نشانه قوی دال بر ریزش #دلار داریم:
یک- عدم توانایی خریدار در ثبت سقف بالاتر
دو-عدم توانایی قیمت در رسیدن به باند میانی #چنگال
با شکسته شدن کف کانال، عملاً خط گردن الگوی سروشانه نیز شکسته خواهدشد و انتظار ریزش دلار را خواهیم داشت
1 998:07 AM Nov 29, 2018
Currently running a long position on #EURUSD Posted the analysis for this trade in my public forex idea group! If you're not already in it, check it out! Links in my bio 🙌🏻
#dollarindex The U.S. dollar rallied on Tuesday after U.S. President Donald Trump said that he would push ahead with tariffs on Chinese goods, fuelling concern about a Sino-U.S. trade war and boosting demand for the greenback.
Analysis on DXY DAILY chart. We have seen price retest the ascending trend line, giving us the 4th bounce. We have closed the last candle of the week, as a bullish engulfing on the 96.50 level, which indicates that the 97.50 level can be achieved next week and if that level is broken we can look at higher highs at the 98.50 monthly key level.