Last week, the DXY broke below important horizontal support. However, the next day, the index reversed its losses, followed by a bullish candle on Friday. This created a strong reversal candle on our weekly chart, making us wonder if the initial break was false.
Now, the index is consolidating above this important horizontal support. A break above the current lateral consolidation could lead to an upward acceleration.
Typically, after a false break, the asset moves in the opposite direction to test the next significant level. For the DXY, this sets a target in the 1.0650 zone.
ความคิดเห็น
DXY bulls should watch 104.50-104.60 for a break Also, the pattern is an inverse H&S