The US$ index has closed with another indecision weekly candle. Traders might need to wait until after the Easter period before there is clarity here.

NB: the weekly update will be released on Monday due to the Easter weekend.

DXY

DXY weekly: a bearish coloured Inside weekly candle reflecting indecision. Note the lack of momentum:

DXY daily: declining and converging momentum here:

DXY 4hr: consolidating around the 100 S/R level:

EURX

EURX weekly: a bullish weekly candle, but, almost an Inside candle here too:

EURX daily: not much momentum here either:

EURX 4hr: consolidating around 110 S/R:

FX Index Alignment:

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

Calendar: Covid-19 remains the dominant theme but watch for any impact from this week’s CNY data: