DXY - 1D - RSI Bearish Divergence at Resistance?

Not a financial advisor.

Initially I was under the impression that the DXY was developing an Inverse Head And Shoulders Formation.
But the last day(s), makes me question that assumption.
I am currently looking at:

1) Rejection from the yellow trendline
2) RSI bearish divergence on the 4H and 1D

Awaiting to see how strong the yellow trendline resistance is or
if a break will develop into a bullish momentum.

On the 4H, the Bearish Divergence is clearer:

Ghi chú

Double bearish divergence:

Ghi chú

DXY needs to create hidden Bullish divergence to create the possibility for higher high:

Ghi chú

Very possible Cup and Handle formation within the flag.
If the C&H plays out, the higher timeframe Inverse Head and Shoulders might break the neckline:

Ghi chú

Awaiting to see the reaction at the support:

Ghi chú

A drop below 92 would represent a lower low.

Ghi chú

CPI Data

Ghi chú

After CPI Data:

Ghi chú

After the CPI data release and analysing the 1D there is the possibility for a RSI bearish divergence.

Ghi chú

In case DXY moves above the 93.3 there is the possibility to reach the Inverse Head and Shoulders target.

Ghi chú

Daily RSI Bearish Divergence seems to be confirmed but looking at the 93 level as the possibility of a higher high on the RSI (meaning that this divergence is no longer valid)

Đóng lệnh: dừng lỗ

Ghi chú

pedrogarrinhas

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