๐ #DXY #REQUEST #IDEA ๐
We are in an ascending broadening wedge - these have a very high chance of breaking down (approx. 75%+). Currently got smashed from a bearish divergence although a bullish hidden divergence has popped up on the supporting trendline along with the 100 EMA there too. Realistically a bounce here is possible although bigger factors at play than a few lines on a chart.
It is also setting up a H/S pattern so losing can crash heavily to 101.574. There is significant support at 103.851 but I don't think it would hold.
We are at a key point of decision we break down on this supporting trendline then its very bearish a bounce could see a pretty massive move up to 112.
We are in an ascending broadening wedge - these have a very high chance of breaking down (approx. 75%+). Currently got smashed from a bearish divergence although a bullish hidden divergence has popped up on the supporting trendline along with the 100 EMA there too. Realistically a bounce here is possible although bigger factors at play than a few lines on a chart.
It is also setting up a H/S pattern so losing can crash heavily to 101.574. There is significant support at 103.851 but I don't think it would hold.
We are at a key point of decision we break down on this supporting trendline then its very bearish a bounce could see a pretty massive move up to 112.
