USD Indx - Continue to buy USD on dips

INDEX:DXY   U.S. Dollar Index
130 3 3
Check list: Daily - Down trend broke, Price moved above Kijun Sen and retested back. MACD bullish , Stoch points up. However what is missing for a real trend to develop: ADX dropping, with DMI             likely to show some zig-zag in the close future, Chikou Span (blue line) is hitting the price wall, Future Kumo is flat, and of course price still trades below Kumo. We might see a weak bullish cross on Tenkan/Kijun soon.
Let's go down to 4 Hrs timeframe: Bearish trend broke, Kumo breakout took place and Px             retested the Kumo. This breakout strategy is getting validated now as price keeps going higher. DMI             is bullsih and here ADX is picking up too ( momentum increasing). We see a good price support at 79,83 - 79,92 range. Also very interesting how the appr. 80,55 level shows its importance. It is an old horizontal line on my 4 Hrs timeframe, which acted well as support/resistence before, and now it is perfectly in-line with the Daily Kumo (actually with its Senkou A component).
Long story short: looks USD is ahead of real major bullish move. I will accumulate USD on any retests close to the 4 Hrs Kijun or Kumo. Once ever it breaks above 80,55 the long term rally will take place. The only thing I can not tell you, wether it will move sideaway first between 80,00 - 80,55 or breaks up within a week.
To measure your risk reward, I'd recommend to place initial stops to 79,75-79,80 levels.

p.s.: I feel it is time to Thank You all who follow me. Increasing number of followers is a real pleasure, since it shows you like my concept. Please feel free to comment my ideas any time, give a thumb up if you like them, and most importantly if something is not clear, or you have any questions, please do not hesitate to ask me here or at kumowizard@gmail.com!
3 years ago
Started following you yesterday. Like to see more chart on market indices such as Nasdaq and SP500 if possible. keep it up!
Kumowizard PRO
3 years ago
ok. SP500 is the one that I normally analyse. If you track back a bit among my previous posts, you can find some of that. On your request I will publish Nasdaq100 today. In advance what I find very interesting on Indexes, that US mkts are trading very poor in a wide range, what's more Nas100 is leading the correction, while all European indexes look super bullish. This means too things: Leaders in tech sector (FB, Twitter, Apple, etc) are not performing any more, investors rotating to other equities. Maybe this is some kind of warning sign of the bull mkt. Europe? That is clearly due to a pricing of an immediate ECB QE, which personally I doubt would happen. But technically bullish for sure, maybe a bit overbought now.
2use Kumowizard
3 years ago
I covered Nas100 recently - it just blew all supports. Europe is bullish nut not super. Check Brazil, went up 10% on major funds. But current market situation going lower will affect many other markets, and that is what i would like to know sooner rather than later. Thanx for the care, i will definitely check your analysis.
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