Details are in the chart. Advanced traders will understand what I am trying to show. For the junior traders, what you can see is the following:
Remember the uptrend is still intact, because the low of this year still is untaken. In the DXY chart we can also see it is facing some resistances, so at least a double top is likely. I still believe in the weekly inverted head and shoulders, but we need to test some real resistance before heading down.
- Hammer on support;
- Bullish divergence;
- Hammer has so far a follow through;
Remember the uptrend is still intact, because the low of this year still is untaken. In the DXY chart we can also see it is facing some resistances, so at least a double top is likely. I still believe in the weekly inverted head and shoulders, but we need to test some real resistance before heading down.
