I believe we are in the final pop up in the dollar. Just spotted an inverted head and shoulders pattern forming. The key here is that it is still forming and not completed. Recent research has suggested that if the head and shoulders pattern is not fully completed it can move against the pattern harshly.
Look for a clear break above the neckline at $94-94.20 level before an accelerated move to the up side. Based off of the height of the shoulders and the head targeting is as follows (once the pattern has been completed!)
Neckline: $94-94.20
T1 = $95.70
T2= $97.10
Stop = $92.73
Good luck and happy trading!
**Not a pro trader, do your own work**
Look for a clear break above the neckline at $94-94.20 level before an accelerated move to the up side. Based off of the height of the shoulders and the head targeting is as follows (once the pattern has been completed!)
Neckline: $94-94.20
T1 = $95.70
T2= $97.10
Stop = $92.73
Good luck and happy trading!
**Not a pro trader, do your own work**