The DXY is still looking heavy on longer term charts despite shaping up in a shorter term bullish-reversal descending wedge. The Jackson Hole Symposium did not get the US$ breaking out of this developing 4hr chart wedge but next week brings NFP so watch to see how this news impacts the US$. Also note that Monday marks the last day of the trading month.

DXY

DXY weekly: a large bearish weekly candle as the index struggles under the recently broken 10-yr support trend line:

DXY weekly + Fibonacci: note that the 61.8% Fib of this last swing Low move is up near 99:

DXY daily: price action continues to struggle under the recently broken 10-yr support trend line. This previous Support will likely now be Resistance:

DXY 4hr:  despite the struggle under the 10-y trend line there is still the look of a bullish-reversal descending wedge so watch for any relief rally move here; even if only temporary:

EURX

EURX weekly: a bullish weekly candle and I’m watching for any push to the previous High, circa 125:

EURX daily: This Cup’n’Handle breakout is still going and there is another Bull Flag style set up here:

EURX 4hr: watch trend lines for any new breakout:

FX Index Alignment: The FX Indices have slipped back into alignment for classic risk-on for currencies so watch to see if this has any impact on the likes of the EUR/USD and other USD-based Forex pairs:

• EURX: is above the 4hr Cloud and above the daily Cloud so aligned for STRONG EUR$ price action.
• USDX: is below the 4hr Cloud and below the daily Cloud so aligned for WEAK US$ price action.

Calendar: next week brings end of month and US NFP: