Micro Head & Shoulders on the DXY, Macro Descending Triangle.
There appears to be a micro H&S playing out at the moment, the green upward sloping line of support has been broken to the downside, we have seen multiple bullish reactions off of that green line, but now the weakness in the trend is becoming more noticeable.
The red M pattern is the Head & Shoulders, I've placed a giant red human icon to represent the head of the pattern, and the shoulders are clearly on each side.
In two separate areas I have placed three blue finger icons that display a triple bottom, interestingly enough if there's a third triple bottom created inside the Macro descending triangle pattern in dark blue the Dollar may potentially turn this into a bull flag & break out to the upside, but I doubt it.
I wouldn't be surprised to see the Macro descending triangle play out to the downside, and similar to Crude oil going negative earlier this year the Dollar is in for a Crude Awakening.
Notice the RSI diverging since early 2015, meanwhile the price has been range bound underneath the downward sloping resistance of the Macro Descending Triangle.
On the KST I've placed red finger icons displaying previous bearish crosses like we've just seen underneath the right shoulder on the H&S drawn on the KST. The Red line crossing over the green to the downside generally coincides with a sell off.
The red M pattern is the Head & Shoulders, I've placed a giant red human icon to represent the head of the pattern, and the shoulders are clearly on each side.
In two separate areas I have placed three blue finger icons that display a triple bottom, interestingly enough if there's a third triple bottom created inside the Macro descending triangle pattern in dark blue the Dollar may potentially turn this into a bull flag & break out to the upside, but I doubt it.
I wouldn't be surprised to see the Macro descending triangle play out to the downside, and similar to Crude oil going negative earlier this year the Dollar is in for a Crude Awakening.
Notice the RSI diverging since early 2015, meanwhile the price has been range bound underneath the downward sloping resistance of the Macro Descending Triangle.
On the KST I've placed red finger icons displaying previous bearish crosses like we've just seen underneath the right shoulder on the H&S drawn on the KST. The Red line crossing over the green to the downside generally coincides with a sell off.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.