USD index before FED - Fade USD strength?

TVC:DXY   U.S. Dollar Currency Index
91 0 7
- Ichimoku is absolutely neutral
- Heikin-Ashi pattern is neutral: last 2 months' candles are bearis, bearish , bullish , neutral, neutral, and this week starts with some bullish bias, but haOscillator is not strong.
- EWO             and MACD are neutral
- Downtrendline and Kumo top at 96,20+. This is the hard resistance line. We could talk about dollar bull only above this level.
- Possible triangle within possible downtrend channel . Lower supp /res. marked by inner uptrendline and Kijun Sen ard             94,75.

- Ichimoku is neutral. Price is still in the Kumo cloud. All average lines stay close together and they are flat.
- Heikin-Ashi has had some bullish bias within the tight range, but price reached upper resistance zone . Not much juice left here to squeeze before FOMC.
- EWO             is neutral.
- ATR is still low -> very low volatilitty

Obviously FED will decide with its rethoric which way to force a breakout. But the breakout is close, goven how tight the triangle pattern , and how low the volatility is.

Just as a feeling for now, I prefer to short dollar on these spikes. Despite slightly stronger inflation data, I doubt FED will hike before elections. Bond market price action shows same expectation -> bonds are not really gaining bearish momentum. I also think all central banks globally will be far behind the curve for long time, even if inflation picks up in the close future. They will not risk an economic turndown with pre-emptive hikes, the last thing they want is a stagflation and increasing debt burden.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out