DXY 2 potential patterns. My bias is the falling wedge.
The falling wedge in yellow looks eerily similar to the prior falling wedges, with a macd moving average pattern which has also occurred before.
Alternatively, the other pattern which seems to stand out is the descending triangle. It is the teal downtrend line.
These two patterns obviously conflict, but given the current sentiment around the usd being bad, and the current sentiment about the stock market being mega bullish, I have to be contrarian and choose the falling wedge.
If this is the case then I am expecting a minimum retracement to the 618 fib, but likely the 786 as shown by the elliot wave speculation. 12345.
Alternatively, the other pattern which seems to stand out is the descending triangle. It is the teal downtrend line.
These two patterns obviously conflict, but given the current sentiment around the usd being bad, and the current sentiment about the stock market being mega bullish, I have to be contrarian and choose the falling wedge.
If this is the case then I am expecting a minimum retracement to the 618 fib, but likely the 786 as shown by the elliot wave speculation. 12345.
Nota
The rally today looks great, This looks great too.
Penafian
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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.