DXY Long term sell entry as it tests the MA50 1W
The Dollar Index made its breakout over the MA50 1D, reversing the bearish sentiment on the short term but this extremely structured symmetrical pattern shows that it is approaching Resistance A, which is a symmetric level that rejected it on May 13th 2022.
The pattern appears to be a huge Head and Shoulders and besides Resistance A, the price is under the pressure of the MA50 1W. A rejection here will be the best long term sell entry with the Target at 98.000 (above Support B).
The RSI 1D is also within its Sell Zone, the 0.786 - 0.618 Fibonacci, which during the symmetric rise was the Buy Zone twice.
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The pattern appears to be a huge Head and Shoulders and besides Resistance A, the price is under the pressure of the MA50 1W. A rejection here will be the best long term sell entry with the Target at 98.000 (above Support B).
The RSI 1D is also within its Sell Zone, the 0.786 - 0.618 Fibonacci, which during the symmetric rise was the Buy Zone twice.
Follow us, like the idea and leave a comment below!!
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