Mahtab_Tradia

DXY: Reversal Pattern

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We have seen a significant growth and strength on the US dollar index in the last week.

Price is in an uptrend and is bouncing on the ascending trend line.

Currently, as you see in the 4H chart, price has made a reversal head & shoulders pattern:

If price breaks the yellow support level (neckline) and closes a bearish candle below this level at 97.055, I expect a drop on US dollar around 96.645 and a retest on the trend line.

On the other side, if price breaks the red resistance level and closes a bullish candle above this level at 97.440, this analysis will be invalid.

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