1

FX Indices: More Indecision

Both FX indices have closed with Spinning Top weekly candles extending the theme of 'indecision' that has plagued FX markets of late.

 

DXY

DXY weekly: the index closed with a bullish-coloured Spinning Top weekly candle reflecting continued indecision:

 

DXY daily: price remains pegged by the 100 S/R level:

 

DXY 4hr: the index is struggling to escape the 4hr Cloud:

 

EURX

EURX weekly: the index closed with a bearish-coloured Spinning Top weekly candle reflecting continued indecision:

 

EURX daily: price remains pegged by the 110 S/R level:

 

EURX 4hr: like with the DXY, this index is struggling to break up through the 4hr Cloud:

 

FX Index Alignment:

  • EURX: is below the 4hr Cloud and below the daily Cloud so aligned for SHORT EUR$ price action.
  • USDX: is in the 4hr Cloud but above the daily Cloud so not aligned and prone for potential choppy USD$ price action.

 

Calendar: Covi-19 remains the dominant theme: