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