The US$ Index closed with another indecision style bearish-coloured candle as price action consolidates near the recently broken 10-yr support trend line. Price action is back below the 4hr Cloud and also looking a bit like a Bear Flag but caution is needed as the index weaves very closely to the 4hr Cloud and could easily slip back above this S/R zone. The ADX remains just below 20 on the DXY 4hr chart so watch this metric in coming sessions for clues about the next move.

DXY weekly: a bearish-coloured Spinning Top weekly candle as price struggles near the 10-yr trend line:

DXY daily: note how this set up could be viewed as a Bear Flag!

DXY 4hr: watch for any new momentum-based trend line breakout:

EURX

EURX weekly: another bullish weekly candle so watch for any push to the recent weekly High, circa 120: 

EURX daily: this bullish Cup ‘n’ Handle is still going for now:

EURX 4hr: watch for any new momentum-based trend line breakout:

FX Index Alignment: The FX Indices has technically slipped back into being aligned for classic risk-on for currencies BUT caution is needed here as the DXY weaves very close to the 4hr Cloud. The DXY could easily slip back above this 4hr Cloud with just a small movement:

• 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: there isn’t a whole lot of scheduled data but keep abreast of political and geo-political news: