Hi Guys,
the scenario hasn't changed much since my last post. DXY still looking bearish into mid week11. FOMC meeting due tomorrow.
50SMA keeps pushing despite divergence with RSI. A,B and C are lower lows. RSI is making higher lows compared to price.
If the index re-climbs above 1000SMA and crosses the 50SMA for the upside at the same time, DXY may commence correcting week10 fall.
RSI still below 50 though and if bearish momentum picks up next stop could be week8 low.
IMHO in the 4H chart below options may be: A) a run towards 50SMA or B) a run towards 1000SMA
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
the scenario hasn't changed much since my last post. DXY still looking bearish into mid week11. FOMC meeting due tomorrow.
50SMA keeps pushing despite divergence with RSI. A,B and C are lower lows. RSI is making higher lows compared to price.
If the index re-climbs above 1000SMA and crosses the 50SMA for the upside at the same time, DXY may commence correcting week10 fall.
RSI still below 50 though and if bearish momentum picks up next stop could be week8 low.
IMHO in the 4H chart below options may be: A) a run towards 50SMA or B) a run towards 1000SMA
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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