Look at these charts tell me is Dollar Index up or down?

Quiz: Look at 3 weekly charts of DXY to find trend. 1) Chart patterns, trend lines. 2) 2 exponential moving averages. 3) Weekly HABBSTS trading system.

 

What does these 3 charts tell you about DXY trend?

Chart #1 – Plain, candlesticks, triangle chart pattern

  1. In this chart, there is a near symmetrical triangle where price is approaching apex.
  2. Traders should be anticipating a breakout before apex.
  3. Price is sticky to support.
  4. Price is resisted by horizontal level which is acting as resistance since past 4 weeks.

Question: More likely to be supported or more likely to break downwards?

DXY weekly chart Oct '14 - present with triangle chart pattern

DXY weekly chart Oct ’14 – present with triangle chart pattern | TradingView.com

 

Chart #2 – Candlesticks with 13- and 26-week exponential moving average

  1. There was a death cross between the 2 moving averages back in March.
  2. 13-week ema is still below 26-week.

Question: More likely to be supported or more likely to break downwards?

DXY weekly chart Oct '14 to present with 13- and 26-week exponential moving average

DXY weekly chart Oct ’14 to present with 13- and 26-week exponential moving average | TradingView.com

 

Chart #3 – Heikin Ashi Bollinger Band Stock Trading System

  1. How to use HABBSTS explained here.
  2. At the moment, Heikin Ashi is red although the week has not closed yet.
  3. Price is now below 3-week, displaced 2 moving average.
  4. What HABBSTS strategy does this setup qualify for? A/B?

Question: More likely to be supported or more likely to break downwards?

DXY weekly chart Jul '14 to present with HABBSTS

DXY weekly chart Jul ’14 to present with HABBSTS | TradingView.com

Hint: In my opinion, good trading systems usually agree with each other when a setup is very obvious. The opposite is also true i.e. when different systems agree with each other, the setup is high probability. This previous post done in March may interest you ‘About that interest rate hike and 3 DXY levels you must watch‘.

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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