(Click on image for Larger View)
The dollar index has now broken below a trenline (and triangle) and then a re-test of the trenline. It looks like it has move out of a consolidation phase and it’s potentially ready to move again.
My current bias is bearish but I do need to see a convincing break below previous swing low of 78660 level. If not, this may potentially form a double bottom and head back into a trading range or a resumption of the current upward trend.
Anything can happen on Monday morning, so let’s just sit back and relax after enjoying this 5 min of unnecessary excitement.
Leave A Response
You must be logged in to post a comment.