Kumowizard

DXY - USD pull back? Maybe

Short
INDEX:DXY   US DOLLAR CURRENCY INDEX
5
Well, it may finally happen.

Daily (Heiken Ashi candles):
The main trend is of course still bullish , but there is one remarkable change in the smoothed price action: today's Heiken Ashi candle may change colour, or may print a doji , which given how overbought the USD is, could finally indicate a correction. Watch the closing and also the next daily Slow Stoch sell signal to confirm. In case the retracement tgt is 90,20.

4 Hrs (regular candles):
Pop up fro Kijun Sen, but no higher high, and Price started to drop a bit again. Chikou Span is hitting Price candles, ADX started to decrease slowly. It seems like some kind of consolidation has started. Can it make a local top here and start a correction lower? It is a bit too early to decide, but there is some chance if it can not print a higher high soon and if Tenkan crosses below Kijun Sen.
Support levels are: 91,80 / 91,20 / 90,20
For a counter trend signal it should really break the 91,25 support. Of course a break below 91,80 you can trade as a weak sell signal, but until it trades between 91,20 - 92,00 (above 100 WMA and Senkou B line), we have to call it a consolidation.

Not that easy to fade the bull this time and trade a swing short. Be careful with position sizing and stop placement!

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