DXY forms a Bullish Reversal Pattern

DXY is forming the right shoulder of the inverted Head and Shoulders pattern.

Buy on Neckline breakout.

Cheers!

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Right should is now well developed. To take a trade i would wait for the neckline breakout.

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In a smaller time frame, 4hr chart, RSI broke out of the down trend which give a good indication that DXY is heading for the the neckline of IHS.

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RSI is in search for higher values on daily chart.

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DXY formed a pin bar on daily. This should hold the bullish channel intact.

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Approaching the downtrend.

Trade geschlossen: Ziel wurde erreicht:

I think DXY has reached the target or almost but I will call an end here.