Yes, I did call for bearishness in the Weekly Outlook. And yes, the USD has moved bullishly since Tuesday. However, I did state that price would move up into the fair value gap, and from there, the bears would take over.
Remember, I described an External to an Internal RUn on LQ. Price has moved from Discount to Premium prices. Currently, price is positioned...
Today's focus: USD Index
Pattern – Continuation
Possible targets – 105.60
Support – 103.40
Resistance – 104.20
Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60 and a break of that level take price out of its consolidation range and gets an uptrend...
The USD Futures Daily chart is already pointing that way... Once it breaks the yellow support line, it will look for 99.
MACD slowing its ascent, while VolDiv is crossing down itself and below zero line.
TD Setup is bearish for the USD.
Bearish outlook overall.
Type : Bullish Rise
Resistance : 103.960
Pivot: 102.925
Support : 102.240
Preferred Case: On the H1, price is moving above the ichimoku cloud and along the ascending trendline which supports our bullish bias that price will rise from the pivot at 102.925 where the swing low support is to the 1st resistance at 103.960 in line with the swing high resistance, 127.2%...
End - week/Weekend forecast of DXY, the future of USD/XXX pairs.
Pattern: Bearish flag (price broke out of the bearish flag and is now trading in an impulsive nature.)
Bias: Anticipating a correction before continue with the bear run, however, i'm open minded to the impulsive approach.
