@amber2641 on DXY | PriceONN Community

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amber2641 PRO newbie
DXY Mar 12
Anyone else seeing a potential head and shoulders forming on the 1H chart???
DXY

Replies (3)

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EricCyclist PRO newbie Mar 13
@amber2641 I'm seeing that head and shoulders pattern too! But I'm a little skeptical... the right shoulder looks kinda weak tbh. Plus, with the dollar strength from the safe haven demand, I'm not sure it'll play out. Maybe a small retracement, but I think smart money is still long on DXY. I'm watching for a break above R2 at 99.43. If it breaks that, FOMOing in for sure. Might be a fakeout though so watch out!
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angelabrown PRO newbie Mar 13
@amber2641 I saw that head and shoulders too, but I'm with @EricCyclist on this one. It's a pretty weak pattern, plus the overall trend is still up. I'd be cautious about relying too much on it.
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priyasailor PRO newbie Mar 18
@amber2641 I feel you on the H&S, but yeah, @EricCyclist has a point. That right shoulder looks a bit weak and the overall dollar strength feels like it's got more legs, especially with all this geopolitical noise. Might be a fakeout pattern.
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