Both FX Indices closed with indecision style Spinning Top weekly candles! Both also remain in the range-bound patterns they have been in for the last couple of weeks. Traders need to monitor these patterns for any momentum based trend line breakouts for clues with other currency pairs.

DXY

DXY weekly: the index closed with an indecision-style Spinning Top weekly candle and remains in a triangle pattern and just below the weekly Cloud;

DXY daily: range-bound under the 98 S/R level:

DXY 4hr: note the lack of momentum over recent weeks!

EURX

EURX weekly: the index closed with an indecision-style Spinning Top weekly candle and remains just above the weekly Cloud;

EURX daily:  this still has the Cup’n’Handle potential that has been on display for the last few weeks:

EURX 4hr: this is looking more like a Bull Flag so watch for any momentum-based trend line breakout:

FX Index Alignment:

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

Calendar: not a whole lot on next week BUT watch for US Covid statistics updates for any impact on risk sentiment: