After a bit of a lagged start DXY pairs have started to move higher earlier today during the New York session (1pm candle New York time EST). EURUSD had a small fake out initially on the 4 hour chart yesterday which had formed a bearish signal cross only to form a bullish signal cross later upon the next candle. Other pairs such as USDJPY, USDCHF and the rest of the main currency basket pairs did not signal bullishness till the following morning during the 1 pm candle and had strong moves back up. DXY pairs have broadly moved higher today against the main basket of currencies. The 4 hour default MACD appears to be forming a bearish signal cross (EURUSD GBPUSD, other non main USD pairs) and DXY pairs could move higher into the Friday New York session. The daily chart may be looking to correct further bullish next week, but longer term the DXY has risen high on the monthly chart and may be looking to retrace bearish in the long term. As you can see on the monthly DXY chart we have pushed quite high into the upper levels of the KC and BB indicating strong bullish volatility, the MACD histogram has shown a bearish inflection this month suggesting a correction over the next year. The median price of the DXY hovers around 97$.$USD Currency Index $EUR/USD $USD/JPY
Ilyas Khan Top1 Markets
Ilyas Khan Top1 Markets