Wednesday, October 25, 2017

FW: [Maybank] DXY – Technical Bottoming in Place?

 


Subject: [Maybank] DXY – Technical Bottoming in Place?

 

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GBL: DXY – Technical Bottoming in Place?

FX Flash
by Saktiandi Supaat

FX Research

While the DXY has fallen more than 10% since the start of the year, technical signs are emerging to suggest a bottoming could be in place. Price action suggests the potential of a classic textbook inverse Headand Shoulders pattern with neckline seen at 94-levels (also the 23.6% fibo retracement of 2017 high to low). A sustained close above this 94-94.30 neckline should see upside gather momentum and the complete reversal of the inverse H&S should see the DXY higher towards 97 levels.

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