October 22, 2010

US Dollar Index: Broadening pattern

  • US Dollar Index crashed below 74 Followed by the break of the neck line. Price also violated the support line of the Broadening pattern. 
  • Price has managed to come back into the broadening pattern .

  • US Dollar index is showing a broadening top pattern and a possible head and shoulders pattern in its four hour chart.
  • Breaking 77.064 is bearish and will bring the index to the bottom of the broadening top pattern, It will also mean a break of the Head and shoulders.
  • If the index holds 77.064 Price will move towards the top of the broadening pattern.

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