US Dollar Currency Index / W / Weekly Forex Analysis / 6.30.2019Hello Traders, welcome to the Weekly Forex technical analysis. Today is June 30th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the weekly chart just to get into the calendar, and have an outlook into the upcoming week. Looking at the Dollar Index here on a weekly time frame, we can see the DXY ended pretty mixed last week. Going into this next first week of July 1st, we will be looking for the Dollar Index to make a move from its current state of indecision. Couple of scenarios could play out we could see this indecision play out a bit longer, or we could see some follow through from the dollar. Currently on the DXY we are watching the 96.493 and the 97.465 areas for resistance. And watching the 95.662 and 94.635 areas of levels of previous support. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
Indicies
#ALSI Up against some resistance4000+ points in 10 trading sessions. At some point we need to take a breather.
#ALSI No higher high and breaking back below supportSupport now turning into resistance. Looking bearish.
#ALSI Bouncing off supportA bounce off support in the face of some leading market weakness. Impressive showing by the bulls.
#ALSI Fake break or retest ?This might indicate a possibility of downside to come or continuation of the uptrend. Decision time....
#ALSI Rising wedge fake breakoutIn true ALSI fashion we had a fake breakout of the rising wedge. Now it's breaking down below with a 400-500 target below. (Unless we get another fake break)
#ALSI An attempt by the bulls to break out of this rising wedge Bulls trying to break to the upside, but will this break succeed ? A failure on the break could see some weakness creeping in. Fro fake moves comes fast moves. Verdict still out on this one.
#J211 JSE Industrial Index hitting resistanceLooks like resistance in this channel is holding. Take care in taking new positions in this sector.
#ALSI All Share Index. Walking on a high wireBalancing act right now. A failure at this lofty level could inflict some pain to the down side. Play the long until it breaks, but be aware of the mounting risk. Bulls always climbs a wall of worry, and this is a big one.
All Share - Bull flag break ? Crazy as it seems at these lofty levels, this look like a bull flag break with a target of around 58k. Overhead resistance also broke with a retest of support on a shorter time frames. 1000pts to go.
DAXMy favourite instrument to trade if i had to pick only one it would be this index.
Anyway just sharing analysis and plus something for me to look back on entered 2 positions so far today on the short, we could see a retest above on the monthly zone before that drop but as for now I am in.
TP1 and TP2 are there for the long term bias, however for the week 10300 and 11000 is more realistic for now. But overall it would be nice to follow and look back on the analysis end of the month and see if it was correct and to journal and note.