ChrisBaron

ChrisBaron

Here are the levels I am watching on the DXY for clues.

ChrisBaron

Weekly bull flag here, I have included the 2 most immediate key levels to watch for bullish/bearish PA. RSI is also in a nice down trend so will be looking for that to break. 1.4445 will be a good place to look for a counter trend long, also holds the 55WMA.

ChrisBaron

These are the levels I will be watching for bearish PA. Weekly looks set to post morning star but lets see what the rest of the week brings.

ChrisBaron

To be honest I don't think anyone really knows the next real direction for both currencies involved here but these are the two zones i'll be watching carefully. Maybe the U.S GDP data will give us some volatility but as we can see on the VIX volatility is lurking around the all time lows. Hopefully we will see the markets pick up soon and give us something.

ChrisBaron

Looking at this double top outside the bearish channel. I expect RSI to show bearish divergence here too. The light blue line is a conservative target of a measured move from the double top formation.

ChrisBaron

Will depend on this 4h close but looks to be setting up a nice double bottom at 1.354 with bullish divergence.

ChrisBaron

Descending triangle on the weekly with bearish divergence. Will be watching this closely as I believe USD is gaining in strength against most other currencies, doesn't mean it's impossible to see a break above but overall I'd much rather sell rallies on this pair.

ChrisBaron

After the bigger wedge being broken to the downside a few weeks ago we bottomed out around 1241. The blue wedge is extremely similar to the bigger wedge marked red. Notice the 50EMA causing problems within the wedge with price being unable to close above. I will be looking to sell the breakout to the downside. If it breaks up then 1265 is my next area of interest...

ChrisBaron

Looking at a breakout of this flag pattern. I see a strong support level at 1.674 area so we may see that get restested first, this is my zone where I will be watching for bullish price action. First target would be 1.70 area for the double top, second will be 1.71. Stops will need to be around 1.665, however I enter at market when I get a price action signal at...

ChrisBaron

Breakout to both sides are very possible. It will be a wait and see situation as both EUR and AUD are weak at the moment.