DXY - Get ready when MC Hammer is in da house!
Daily: IF we close like this, that will be a reversal hammer candle printed in the triple resistance zone. A break below 84,00 will send price to 83,70, there we'll see.
MACD possible bearish cross depends on today's and tomorrow's closing.
Strong support is at 83,00 (Kijun Sen, and mid of regression trend channel)
4 Hrs: Bullish steam off. ADX down, DMI zig-zag. Chikou Span hits price wall. Tenkan/Kijun weak bearish cross with Price back below Kijun Sen. Support is 83,70, retest to here is possible, counter trend could develop only below the cloud.
a) we either see some USD long positions unwind and thus a quicker correction down to 83,70 or even to 83,00 or
b) it will again just consolidate sideaway before if blows further
anyhow, holding existing longs, or especially adding or opening new USD longs here at this high seems a very poor risk-reward.
p.s.: FED FOMC is a big question as always... well actually the story is not what they will or will not say, or how they guide mkt, the real question what is the main expectation of the mkt, so what has already been priced in!
MACD possible bearish cross depends on today's and tomorrow's closing.
Strong support is at 83,00 (Kijun Sen, and mid of regression trend channel)
4 Hrs: Bullish steam off. ADX down, DMI zig-zag. Chikou Span hits price wall. Tenkan/Kijun weak bearish cross with Price back below Kijun Sen. Support is 83,70, retest to here is possible, counter trend could develop only below the cloud.
a) we either see some USD long positions unwind and thus a quicker correction down to 83,70 or even to 83,00 or
b) it will again just consolidate sideaway before if blows further
anyhow, holding existing longs, or especially adding or opening new USD longs here at this high seems a very poor risk-reward.
p.s.: FED FOMC is a big question as always... well actually the story is not what they will or will not say, or how they guide mkt, the real question what is the main expectation of the mkt, so what has already been priced in!
