ellynacci

Runaway Bull

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TVC:DXY   Índice Dólar
I know there are too many drawings here - let me break them one by one. First, let's refer to the big downtrend channel where the price has made a huge breakout on the upper trendline. On the bigger picture of the Daily timeframe, we can clearly see the channel is a Bullish Flag. Second, take a look at the blue Fibonacci where the price has sharply rejected level 1.30, making an Inverted Head and Shoulder pattern, signifying the price will no longer move lower than this level. Next, let's focus on the broken downtrend channel, where the price has significantly shoot up, making a new uptrend channel. Referring to the Black Fibonacci, the price retraced on level 1.618 and bounced, continue its rally on the prevailing trend. I am anticipating Dollar will move more higher on 98.3 to make a triple top, unless break it will shoot higher up at 99.08 before another major correction.
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