📌 Chart Patterns in Focus:
1️⃣ Cup & Handle Formation (29–31 July):
Bullish reversal pattern spotted
Price broke out sharply upwards after the handle consolidation
2️⃣ Rising Wedge Breakdown (31 July – 1 Aug):
Bearish pattern triggered heavy selling
Sharp red candle confirms strong bearish pressure
3️⃣ New Cup Base Forming (2 Aug – Present):
Price consolidating after drop
Another Cup & Handle formation in progress
Break above neckline near 98.60 could trigger next bullish wave
💡 What to Watch Next:
Breakout above 98.60 = Possible upside continuation
Failure to breakout = Range-bound or bearish retest of 98.00
📍Current Price: 98.425
⏱️ Timeframe: 1 Hour
📈 Bias: Cautiously Bullish (if neckline breaks)
📉 Risk: Another rejection may lead to 97.80 zone retest
🔔 Stay tuned for breakout confirmation before positioning!
#DXY #USDIndex #TechnicalAnalysis #ChartPatterns #ForexTrading #PriceAction #CupAndHandle #RisingWedge #SmartTrading
1️⃣ Cup & Handle Formation (29–31 July):
Bullish reversal pattern spotted
Price broke out sharply upwards after the handle consolidation
2️⃣ Rising Wedge Breakdown (31 July – 1 Aug):
Bearish pattern triggered heavy selling
Sharp red candle confirms strong bearish pressure
3️⃣ New Cup Base Forming (2 Aug – Present):
Price consolidating after drop
Another Cup & Handle formation in progress
Break above neckline near 98.60 could trigger next bullish wave
💡 What to Watch Next:
Breakout above 98.60 = Possible upside continuation
Failure to breakout = Range-bound or bearish retest of 98.00
📍Current Price: 98.425
⏱️ Timeframe: 1 Hour
📈 Bias: Cautiously Bullish (if neckline breaks)
📉 Risk: Another rejection may lead to 97.80 zone retest
🔔 Stay tuned for breakout confirmation before positioning!
#DXY #USDIndex #TechnicalAnalysis #ChartPatterns #ForexTrading #PriceAction #CupAndHandle #RisingWedge #SmartTrading
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.