While DXY (broad USD Index) delivered a bullish signal on the daily, its major component, the EURUSD cross still can not decide about direction. From the other side it obviously means that DXY move was mainly due to GBPUSD collapse and spike in USDJPY. Should GBP show some correction and EURUSD to tick higher, those who are long in DXY will have to be careful with their positions.
Back to EURUSD itself:
- Flat Kumo, flat Tenkan and flat Kijun. All these average lines line up around 1,1200, making the equilibrium level there. Price is in the middle of the thin Kumo cloud. Chikou Span is also at middle of past candles. Sometimes it looks like a start of a trend, but in fact this market has stopped trending and has been moveing sideaway since May.
- ATR shows lack of volatility.
- EWO is neutral
- Heikin-Ashi right shows indecision rightnow, with haDelta and haOscillator signalling small chance for higher prices. NOT yet a buy signal!
- Range support: 1,1100-1,1125 -> Sell break below
Range resistance: 1,1215 (Kijun) and 1,1245 (horizontal) -> buy a break above
Back to EURUSD itself:
- Flat Kumo, flat Tenkan and flat Kijun. All these average lines line up around 1,1200, making the equilibrium level there. Price is in the middle of the thin Kumo cloud. Chikou Span is also at middle of past candles. Sometimes it looks like a start of a trend, but in fact this market has stopped trending and has been moveing sideaway since May.
- ATR shows lack of volatility.
- EWO is neutral
- Heikin-Ashi right shows indecision rightnow, with haDelta and haOscillator signalling small chance for higher prices. NOT yet a buy signal!
- Range support: 1,1100-1,1125 -> Sell break below
Range resistance: 1,1215 (Kijun) and 1,1245 (horizontal) -> buy a break above
