Since the above chart is a “Weekly” look at the Dollar, nothing is confirmed on a Monday morning, yet the potential that a “Bearish Engulfing Candlestick Pattern” might have taken place last week should be respected.  This pattern in the past has had a huge impact on the Dollar at each (1), keep a close eye on this one! 

Could this be a continuation of the “Rejection” post shared two weeks ago? (see post here)

As time grows I suspect many will see this pattern and it will be discussed across the technical community.  For this pattern read to be confirmed/correct, the Dollar needs to be lower 5 to 10 business days from now (due to this is a weekly pattern)!  

Confirmed pattern at this time? No!!!  Potential bearish pattern? YES!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past