Daily price is on totally ranging market condition with between the primary bearish and the primary bullish area of the chart.
On the price action situation:
- the price is on correction for reversal by crossing 100-SMA from above to below to come to the totally ranging zone with possible reversal of the price movement to the primary bearish market condition;
- descending triangle pattern is going to be broken by the price with 95.93 support level.
On Ichimoku chart situation:
- the price is located inside Ichimoku cloud for the ranging condition with 95.93 intermediate support and 95.45 reversal support level located on the bearish area of the chart;
- Chinkou Span line is crossing the price from above to below for good possible breakdown.
Instrument | S1 Pivot | Yearly PP | R1 Pivot | R2 Pivot |
---|---|---|---|---|
DXY | 82.99 | 87.07 |
95.28 | 99.31 |
If D1 price will break 95.45
support level on close W1 bar so we may see the reversal of the price movement to the primary bearish market condition.
If not so the price will be ranging between the levels.
Trend: