DXY - Update. Still consolidation with no higher highs so far.
Daily:
Not much change. Heiken Ashi candles of last three days (including today) make a consolidation patter. From this alone we can not yet decide if it will pull back, or will just move more sideaway. MACD closing in a bit, no sell signal yet, but remember this indicator is really a lagging one.
4 Hrs:
USD Indx has refused to make a higher high for the third time in a row. Consolidation continues as Chikou Span hits Price candles. The Kumo is still thick, 100 WMA is catching up. Tenkan and Kijun stay together, both lines are flat. This also means short term undecision in the USD. Remember, for a valid sell signal it needs to trade below the support zone and 100 WMA.
Support levels are at: 91,85 and 91,30
Looking at Gold and Equity price action my bet is still there is increasing chance for a correction, maybe to 90,00+ daily support level. In fact it is really EURUSD dependent as that makes the biggest weight in USD Indx.
Not much change. Heiken Ashi candles of last three days (including today) make a consolidation patter. From this alone we can not yet decide if it will pull back, or will just move more sideaway. MACD closing in a bit, no sell signal yet, but remember this indicator is really a lagging one.
4 Hrs:
USD Indx has refused to make a higher high for the third time in a row. Consolidation continues as Chikou Span hits Price candles. The Kumo is still thick, 100 WMA is catching up. Tenkan and Kijun stay together, both lines are flat. This also means short term undecision in the USD. Remember, for a valid sell signal it needs to trade below the support zone and 100 WMA.
Support levels are at: 91,85 and 91,30
Looking at Gold and Equity price action my bet is still there is increasing chance for a correction, maybe to 90,00+ daily support level. In fact it is really EURUSD dependent as that makes the biggest weight in USD Indx.
