DXY completed a bat pattern last week and reversed successfully.
The bulls are punishing the late shorts, and this temporary uptrend is likely to resume until dxy goes back above 94.
This downward channel is a good reference for potential resistance zones.
When DXY crosses above 94, many bullish patterns will complete in USD denominated pairs like AUDUSD, GBPUSD and EURUSD.
Be patient and wait for these great patterns to play out.
Good luck and good trading guys!
The bulls are punishing the late shorts, and this temporary uptrend is likely to resume until dxy goes back above 94.
This downward channel is a good reference for potential resistance zones.
When DXY crosses above 94, many bullish patterns will complete in USD denominated pairs like AUDUSD, GBPUSD and EURUSD.
Be patient and wait for these great patterns to play out.
Good luck and good trading guys!