Kumowizard
Short

USD - Bulls can suffer more!

INDEX:DXY   U.S. Dollar Index
127 1 5
Do you need any detailed comment on these charts, or do you see the signals as I see them?

Retracement tgt             for USD Index is possible 90 in coming months.

Weekly:
- Ichimoku is turning to neutral, Thick Kumo ahead starts to overshade price. Price is below Kijun Sen!!! Chikou hits past candles. Tenkan/Kijun closing in to weak bearish cross.
- The week has just started but looks like Heikin Ashi may deliver the third bearish candle. Based on haDelta/SMA3, if you consider to sell, try to do it closer to Kijun sen, so closer to 95,00 during this week.

Daily:
- Ichimoku setup is almost perfectly bearish . Price broke the Kumo, then retested it, and declining again. For the text book perfect and valid bearish Kumo breakout we'd need a lower low as well, but given the fact the long term bullish trendline is broken, it can happen soon. We also have a strong bearish Tenkan/Kijun cross below Kumo.
- Heikin Ashi setup is bearish , with some minor hesitation now: smaller candle bodies and haDelta ticking a bit higher.
Hopefully we can see some more ticks up before bears (and also old bulls) step in again.

The best risk-reward sell area would be 94,80-95,00, but if you see a strong Heikin Ashi sell signal earlier, especially with a break below horizontal line (prev low), do not hesitate to:
1. either offload all your remaining USD longs (if you still have)
2. go short USD

If we see 94,00 breaking, I really think the possible tgt             can be 90 +/-.
One more important thing: from now on, it WILL NOT be so obvious to trade USD as in the last 1 year. íIt will enter a thick neutral zone, and we will see a lot more wide and volatile price action, and nervous trading. Be wise with position sizing and stops! Always build in volatility into your trading strategy and models!
dchua1969
a year ago
hi

please enlighten me here.
if USD is going to come down like you say, then am i right to say major pair like AUD, EUR and Yen should go up ?
some traders are extremely bullish on these pairs currently.
thanks
Reply
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