Recent price action: Bearish
Pattern: Potential head and shoulders play
Long-term momentum: *Bearish (based on the chart, not overall)
Short-term momentum: Bearish
Bias: Neutral
Action: None. Need time for price to develop.
Comments: Slim chance of actually getting the head and shoulders pattern to complete. DXY is showing promise of further continuation to the upside. Unless there is negative news from the U.S. in June, I expect this pair to continue movement to the upside.
Pattern: Potential head and shoulders play
Long-term momentum: *Bearish (based on the chart, not overall)
Short-term momentum: Bearish
Bias: Neutral
Action: None. Need time for price to develop.
Comments: Slim chance of actually getting the head and shoulders pattern to complete. DXY is showing promise of further continuation to the upside. Unless there is negative news from the U.S. in June, I expect this pair to continue movement to the upside.