Short

DXY Huge H&S about to break downwards aggressively

The U.S. Dollar Index (DXY) has hit our first short-term target as presented on our most recent analysis:

DXY Excellent sell level, rejection confirmed.

The major news however is that it failed to break above its 1W MA50 (blue trend-line) where in fact it got rejected last week. This validates the giant Head and Shoulders (H&S) idea we discussed in the past, which is now targeting the 1W MA200 (orange trend-line) and Support Zone 2 at 98.300.

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