U.S. Dollar IndexShort
DXY 4hr, Bearish Engulfing & Ascending Wedge?
DXY has been moving up rather corrective-ly, it has tested the supply zone a 2nd time and was rejected off with a 4hr bearish engulfing, another test of it would likely lead to a bullish continuation view,
compared to how price previously stuck around the supply zone (100.8 - 101), this seems like a stronger and cleaner indication of more bearish momentum to come.
Currently still within the formation of the ascending wedge pattern, so it's possible to see price coming back up to 100.7 before making a strong wave down
compared to how price previously stuck around the supply zone (100.8 - 101), this seems like a stronger and cleaner indication of more bearish momentum to come.
Currently still within the formation of the ascending wedge pattern, so it's possible to see price coming back up to 100.7 before making a strong wave down
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