$ index , Are we looking at a rejection of the weekly Neckline ?

Good Day traders !! It's time for an update on the DXY , like we were expecting on our previous analysis the dollar index melt down to retest the Neckline of the weekly W formation, now what's next. We do have some important news coming up on Wednesday and we do expect the DXY to complete the Monthly pattern and test the Monthly neckline of the "M" formation before the continuation to the downside. Also we are sitting right now at the 0.5 FIB level of the retracement taken on the previous impulse leg and we expect a rejection from that area to the upside.

Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.

Trade safe !!!