The US Dollar (DX) index has broken up through short term resistance.
Here is the longer term view of this chart, and its bounce from the measuring objective called out by its failure at the neckline in the large H&S top.
The dollar strength is largely driven here by euro weakness, as a comparative index, and a short term oversold condition that is being quickly worked off. Currencies tend to overshoot their technical moves in the short term, but in the long term are much less subject to price manipulation than stocks, excepting of course the official pegs set by central banks which are all too obvious, except for those blinded by ulterior motivations.
Let's see how much of its decline from the neckline it can retrace. Technically it can go all the way to the neckline without invalidating the chart formation, although this does seem unlikely.
"Then the kings of the earth, the nobles, and the military commanders, the rich and the powerful, and all the rest who served them hid in caves and sheltered among the rocks of the mountains. And they implored the mountains and the rocks, 'Fall on us and hide us from the face of the one who sits on the throne, and from the wrath of the Lamb. For the great day of his wrath has come, and who then will be able to stand?”
Revelation 6:15-17