DXY - Mixed on multi time frames. Short term paue or pull back

163 5 5
Last sell USD idea worked very well. The correction send Price down to important supp/res zone. Now we have kind of mixed picture.

- Ichimoku setup is still long term bullish , but the momentum lost a lot of its power. Price is trading between Tenkan Sen and Kijun Sen now. First important support is ard             94,00 (Kijun Sen +/-)
- Heikin Ashi candle had a long red body last week and a long wick with its low almost touching 94,00. haDelta/SMA3 reached an extreme low read. This means the selling pressure was really heavy. This week has just started, but given the low of last week I think there is a chance we will see some ease in selling pressure in coming days. Watch haDelta/SMA3 if it can hold the cross up and get close to zero line.
- From here it is a bit hard to tell wether we'll see range trading between Tenkan and Kijun with increased volatility , with short term bullish resumption, or if the correction will accelerate further. I think the first has slightly bigger chance and that 94,00 support should hold well for now.

- One could say the Ichimoku picture has changed to bearish , but you must not forget something: for a bearish reversal, and valid bearish Kumo breakout Price must make a lower low below the previous important supp/ress, which is ard             93,90. Until then we can call the Ichimoku picture bearish biased, but not yet confirmed bearish trending.
- Please note also that Chikou Span is facing a massive resistance with a thick past Kumo below it.
- Heikin Ashi candle and its quantification haDelta/SMA3 has already gave an aóearly signal last friday about a possible pause or reversal of the short term bearish move. Today we may have a confirming candle: if it closes green or doji , then most likely we'll see more buying in coming days, and Price to retest 96,50-97,00 area again.

All together I think we'll see a reaction buying now to retest the daily Kumo and the shorter averages (Tenkan and Kijun). What will hapen later I don't know, and I don't even want to predict... as no one is able to predict, just to guess. But as usual, we'll have to watch price action and Heikin Ashi signals at the important supp/res levels, so ard             96,50-97,00.
I opened small long DXY             position this morning, with 1:2 possible risk reward entry, initial tgt             96,65.
Hi Kumo !

I share the same idea as you. DXY may do a nice pull back after its last week correction. Moreover we have a strong bullish divergence on 1D timeframe MACD.

My view on it :

Best Regards,
Kumowizard Mirandole
Just like Ichimoku, you MA 26/48 cross has relevant information. That is: 97,00 will likely act as strong supp/res in the future. That's why I placed my retracement tgt as 96,50-97,00. Price is oversold in the possible short term falling wedge formation, let's see if the wedge breaks in next coming days.
Kumowizard Mirandole
As you see the pull back happened only up to the bottom of the Kumo and appr. to your wedge upper line.
Mirandole Kumowizard
I got a bullish biais on US Dollar but I have changed my mind waiting for a signal to trade.
Kumowizard Mirandole
Yeah. If you check my previous posts, I have lost my bullish bias a few weeks ago already. It was obvious in time that USD had started a wide range consolidation, and now it looks to end up in a counter trend. I mean a bullish counter trend on the daily vs the still bearish weekly setup.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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