DXY daily chart
Looking at current price from the newly formed swing low at 103.741 which is close to the old swing low at 104.100, we can tell that price made a false break below and reversed back into the descending channel which signals a price reversal to the up-side targeting the swing high at 106.100.
We can see a inverse H&S pattern forming on LTF’s 4HR/1HR and a lot of candles with multiple lower wicks that signal price rejection of the lows.
4HR/1HR chart
We will be monitoring price action as we are currently consolidating within the price area of 104.520 (Top of range) and 104.180 (low of range).
Looking at current price from the newly formed swing low at 103.741 which is close to the old swing low at 104.100, we can tell that price made a false break below and reversed back into the descending channel which signals a price reversal to the up-side targeting the swing high at 106.100.
We can see a inverse H&S pattern forming on LTF’s 4HR/1HR and a lot of candles with multiple lower wicks that signal price rejection of the lows.
4HR/1HR chart
We will be monitoring price action as we are currently consolidating within the price area of 104.520 (Top of range) and 104.180 (low of range).
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