Fed pushes dollar into bearish pattern
The Dollar Index has smashed lower after the Fed kept rates unchanged, bringing with it a more bearish formation. The sharp move lower has created a flagpole, with the move higher looking like a bearish retracement rather than a bullish reversal.
Price has begun to move lower once more and the break below 94.50 is expected to bring yet another move lower. Support below 94.50 would be likely to be found around 94.21 and 93.82. My bearish view would only change with a move above 94.84.