Appealing chart patterns visible on the DXY
The recovery from daily support at 95.84 and daily AB=CD pattern completion at 96.16 (the latter is regarded as a basic bullish configuration among harmonic traders) has placed price action within close proximity to daily supply at 98.18/98.65. Traders will also note the recovery is establishing what appears to be a bear flag between 95.72/97.45.
98.18/98.65 remains an influential area, housing the 200-day simple moving average at 98.32, a 38.2% daily Fib level at 98.51 and a 127.2% daily Fib ext. level at 98.31. The aforesaid 38.2% Fib level also represents a common initial take-profit target out of the recently completed AB=CD pattern.
In addition to the above (as featured in recent weekly reports), late May witnessed price push through the lower limit of a large bearish pennant configuration (98.27). Traders following this pattern, therefore, may still acknowledge the possibility of moves eventually forming as far south as 93.97: the pennant take-profit target, measured by taking the preceding move and adding the value to the breakout point (yellow).
98.18/98.65 remains an influential area, housing the 200-day simple moving average at 98.32, a 38.2% daily Fib level at 98.51 and a 127.2% daily Fib ext. level at 98.31. The aforesaid 38.2% Fib level also represents a common initial take-profit target out of the recently completed AB=CD pattern.
In addition to the above (as featured in recent weekly reports), late May witnessed price push through the lower limit of a large bearish pennant configuration (98.27). Traders following this pattern, therefore, may still acknowledge the possibility of moves eventually forming as far south as 93.97: the pennant take-profit target, measured by taking the preceding move and adding the value to the breakout point (yellow).
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.