DXY Looking Bearish
Market Analysis:
Asset: DXY (US Dollar Index)
Timeframe: Daily
Pattern: Symmetrical triangle completed
Additional Confirmation: Double top already playing out...
Symmetrical Triangle:
The symmetrical triangle pattern indicates consolidation and is completed when the price breaks out of the pattern. In this case, a bearish breakout from the triangle suggests a potential continuation of the downtrend.
Double Top:
A double top pattern on the daily timeframe indicates a potential reversal of the uptrend, confirming bearish sentiment.
Asset: DXY (US Dollar Index)
Timeframe: Daily
Pattern: Symmetrical triangle completed
Additional Confirmation: Double top already playing out...
Symmetrical Triangle:
The symmetrical triangle pattern indicates consolidation and is completed when the price breaks out of the pattern. In this case, a bearish breakout from the triangle suggests a potential continuation of the downtrend.
Double Top:
A double top pattern on the daily timeframe indicates a potential reversal of the uptrend, confirming bearish sentiment.
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.