US Dollar Index (DXY) Analysis – 1H Chart

📌 Chart Patterns in Focus:

1️⃣ Cup & Handle Formation (29–31 July):

Bullish reversal pattern spotted

Price broke out sharply upwards after the handle consolidation

2️⃣ Rising Wedge Breakdown (31 July – 1 Aug):

Bearish pattern triggered heavy selling

Sharp red candle confirms strong bearish pressure

3️⃣ New Cup Base Forming (2 Aug – Present):

Price consolidating after drop

Another Cup & Handle formation in progress

Break above neckline near 98.60 could trigger next bullish wave

💡 What to Watch Next:

Breakout above 98.60 = Possible upside continuation

Failure to breakout = Range-bound or bearish retest of 98.00

📍Current Price: 98.425
⏱️ Timeframe: 1 Hour

📈 Bias: Cautiously Bullish (if neckline breaks)
📉 Risk: Another rejection may lead to 97.80 zone retest

🔔 Stay tuned for breakout confirmation before positioning!

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