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EvanJones
15. Aug. 2016 18:17

H&S Pattern on Dollar Index Short

U.S. Dollar Currency IndexTVC

Beschreibung

The Dollar Index has fallen out of favour with many investors, partly due to disappointing economic data and the FED talking the dollar down.

A nice H&S pattern has emerged and if one of the trendiness breaks then this would make for a great shorting opportunity. The RSI and trend wave has some distance to go further downs the move is backed by some momentum. I expect Wednesday's FED minutes to be a key driver here.

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Kommentare
EvanJones
Just an update, this looks to have completed the breakdown of the neckline from the H&S pattern. Given the FOMC minutes are out later today, tis wise to stay out of this pair and any correlated USD pairs for today.
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