Kumowizard

USD top building is possible.Importance of Kumo and 100WMA

TVC:DXY   U.S. Dollar Currency Index
128 3 4
Daily:
- Bullish .
- The real issue here is that Tenkan, which is the shortes (9 days) average have not been broken since 22/Oct! Acts as strong support... until it acts as strong support, because when Price washes through that, it will quickly correct down to Kijun Sen.
- Heikin Ashi is bullish , but haDelta negative divergence still exists!
- SAR             was hit today in early European session... maybe this was what ECB technicians realised so they had to leak something to save the day :-)

4H
- Bullish , but no real follow through above 100+ key resistance!
- Look how perfectly Kumo, Kijun Sen and 100 WMA worked again as support! -> once these fail to hold Price high, correction will hit.
- EWO             is still bullish but with negative divergence

If no follow through above 100+, then a rounded top, or more consolidation will be possible.

Trendline Kijun and Senkou B all up, which means key reversal level is now up to 99,35-99,40... ooops, look: daily Tenkan Sen is there too! :-)


Excellent, seems we have a similar view. Mine's even more potentially devastating.
Reply
Kumowizard IvanLabrie
Thanks Ivan!
+1 Reply
IvanLabrie Kumowizard
Thanks for the great charts.
Cheers!
Reply
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