Paying attention to price action on Dollar Index. We have price coming up to WM4 due to price opening at WM2 though price has failed to make a higher high above the H4 55 and is currently making a head and shoulder pattern on M15 as shown below. Also paying attention to price action on Dollar pairs. If you are a Dollar Bull then perhaps it is time to manage your stop or look for opportunities to enter another trade if Dollar moves down to support. If you are Dollar Bear then this post is for you.

Dollar Index H4

Price could move higher though the H4 55 is playing as resistance and our H4 stoch is approaching overbought - no signs of bearishness yet though if we do come down at resistance Bulls are looking for a double bottom at WM2 and Bears are looking to trade this down to the weekly Bearish target or MPP which marks the role reversal of the double bottom on daily as discussed on Sunday.

Dollar Index M15

This is only a setup for Bears if price breaks support and makes a lower low off of the right should which may be forming at market.

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