time for a breather?
the US Dollar has been quite strong for a couple of weeks now, and even showed resilience in the face weak NFP numbers. per the economic calendar, there is little to no activity until wednesday. this would provide market participants with ample time to take some profits. if the head and shoulders pattern remains intact, the DXY would fall to the 95 level. This level would position price right on top of the daily 50-EMA.
Trade closed manually
pattern invalidated
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.