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Profound_Ambition

DXY (Dollar index) Daily

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Support and Resistance Fibonacci Trend Lines DXY DJ FXCM Index dollarindex Supply Zone breakout retest uptrend higherhighs
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supportandresistance fibonacci trendline dxy usdollar dollarindex supplyzone breakout retest uptrend higherhighs
Price broke out of its downtrend channel on Thursday after U.S. higher job report numbers. Now a retest is needed which NFP helped out on Friday get a slight retracement. More dollar strength expected & a rate hike in December. Lets see if we can get a clear uptrend of higher highs & higher lows from now on forward..
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snapshot
potential Daily inverse H&S pattern possibility..
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may get a wick or candle touch to the moving averages before pushing up, definitely possible.. Something to look out for
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looks like we may be forming that right shoulder to the inverse H&S pattern
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expecting dollar weakness for now, PPI numbers on Thursday could bring back some strength to this pair
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