usdi hourlyInverse H&S forming at 78.4? A clear resistance...

usdi hourly



Inverse H&S forming at 78.4? A clear resistance level.
Target if it is a H&S is 79.85

'If' USDi fills the gap down first at 77.7 I would look for it to regain the new upward channel. This would be a much stronger move in USDi in my view if it did.

Early pattern suggests swings and choppy sideways. The USDi needs the corresponding inverse on the EUR to pull this off. Hence the news below ...

Funny mentals -
OIS rate is historically extremely low, promoting risk and low return lending. Purportedly, Fed Res is even lending to the ECB

Forex swaps with ECB total $70 million - NY Fed (Reuters)
(a pittance, but something the US wants the world to know about)

Copper 1h our is looking like it is forming a bull flag, suggesting it might break upwards on the USD heading south.

Will save you my cynical take on the matter. But to me it suggests equities remain well funded, and broadly move up with the USD. A pull back of some sort is still to be expected in equities.

Or it could just be a whole load of carp.