Dollar Inverted Head and Shoulders into Possible Cup & Handle
Here we have several bull patterns on the dollar futures.
First we established and broke out of a bull pennant, Then we moved onto another bullish pattern, inverted head and shoulders, and now we've developed a cup. Is this a handle that formed on the cup?
Whichever way you look at it, this is very bullish price action on the dollar.
What I'm looking for is the price to break through resistance and into the blue channel while flipping the resistance into support and ultimately capturing the top of the blue channel.
DXY
First we established and broke out of a bull pennant, Then we moved onto another bullish pattern, inverted head and shoulders, and now we've developed a cup. Is this a handle that formed on the cup?
Whichever way you look at it, this is very bullish price action on the dollar.
What I'm looking for is the price to break through resistance and into the blue channel while flipping the resistance into support and ultimately capturing the top of the blue channel.
DXY