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Strategies & Market Trends : TRIPLE TRADES
OPEN 6.670+5.9%Jan 16 9:30 AM EST
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To: Birdieking who wrote (1547)10/2/2021 4:35:59 AM
From: Bull RidaH  Read Replies (1) of 4446
 
USDOLLAR - Last year's Weak-Form Head & Shoulders pattern on the USD index targeted 87.50 for a visit, then reversal SIGNIFICANTLY higher. Miraculously, the index did not complete the move set in stone as the index broke below 95.5 for good in July of 2020. Instead, 89 held the decline this past January. It's not impossible that the 87.50 target could still be viable, but to make it likely, the interim peak of this year's double bottom pattern, near 93.5, must be closed below a couple Fridays in a row. Otherwise, the double bottom pattern will drive the index higher, eventually beyond it's now active target of 111.60.

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