#usdollarfallstothreemonthlow US DOLLAR AND GDX COMBO CHART UPDATE
🇺🇸💵👀
In my last update on X, I pointed out that the bearish rising wedge on the
US dollar was just a small piece of a much larger pattern that has been forming for just over a year, beginning in July of 2025. To make the US dollar
chart a little less busy, I removed the bearish rising wedge so we can focus on the bigger picture with more clarity.
Back in the fourth quarter of 2024, the US dollar formed the black bearish rising wedge reversal pattern. Many times, after a bearish rising wedge, we’ll see it morph into a H&S top, where the left shoulder and head form inside of the rising wedge, with the right shoulder high forming on the backtest to the bottom trend line of the rising wedge. I realize the price action at the top left-hand side of the chart is very busy, but the more advanced chartists will be able to understand what the price action is showing.
Then 2025 began with the rising wedge, which morphed into the strongly slanted H&S top, where the neckline symmetry formed the right shoulder high on the backtest to the bottom trend line. Once NL#1 was broken, there was a backtest to the neckline, which led to the next move lower. Where NL#2 is located, the second H&S top formed. Note again the neckline symmetry line, which is just a parallel to the neckline. The now larger double H&S top had a price objective down to the July 2025 low, which is the beginning of the now one-year expanding triangle.
$AAVE $USUAL $PROM
🇺🇸💵👀
In my last update on X, I pointed out that the bearish rising wedge on the
US dollar was just a small piece of a much larger pattern that has been forming for just over a year, beginning in July of 2025. To make the US dollar
chart a little less busy, I removed the bearish rising wedge so we can focus on the bigger picture with more clarity.
Back in the fourth quarter of 2024, the US dollar formed the black bearish rising wedge reversal pattern. Many times, after a bearish rising wedge, we’ll see it morph into a H&S top, where the left shoulder and head form inside of the rising wedge, with the right shoulder high forming on the backtest to the bottom trend line of the rising wedge. I realize the price action at the top left-hand side of the chart is very busy, but the more advanced chartists will be able to understand what the price action is showing.
Then 2025 began with the rising wedge, which morphed into the strongly slanted H&S top, where the neckline symmetry formed the right shoulder high on the backtest to the bottom trend line. Once NL#1 was broken, there was a backtest to the neckline, which led to the next move lower. Where NL#2 is located, the second H&S top formed. Note again the neckline symmetry line, which is just a parallel to the neckline. The now larger double H&S top had a price objective down to the July 2025 low, which is the beginning of the now one-year expanding triangle.
$AAVE $USUAL $PROM