DXY Bullish Retracement (Overall Bearish Bias)
DXY has been in a bearish trend. After the previous push to the upside price formed a Double Top, which is a candlestick reversal pattern.
Price then broke the neckline of the double top, retested the area meeting resistance and began another sell off to the downside. Ultimately, forming a lower low.
I am now anticipating price to form a double bottom (bullish reversal pattern) on the 1hr-4hr timeframe and begin a bullish retracement that will form then next Lower High.
I believe price may retrace to the 102.9 - 103.16 area before selling off again.
What do you think, please comment below?
Price then broke the neckline of the double top, retested the area meeting resistance and began another sell off to the downside. Ultimately, forming a lower low.
I am now anticipating price to form a double bottom (bullish reversal pattern) on the 1hr-4hr timeframe and begin a bullish retracement that will form then next Lower High.
I believe price may retrace to the 102.9 - 103.16 area before selling off again.
What do you think, please comment below?