DXY within an ascending triangle pattern, looking to break out.
DXY is currently within an ascending triangle pattern, and we are sitting just underneath the flat line of resistance around 97.40. On the flip side, the DXY has tested the rising line of support 5 times and has held it every time, and we now have the 200 day moving average acting in tandem with the rising line of support. I would like to either see a large break-out above 97.40 with conviction, or to see a break-out into a retest of old resistance as new support around 97.40. Overall, setup is looking good from what I can see.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.