DXY Forecast and Trade setup for the week ending 15th August, 2014

DXY Forecast and Trade setup for the week ending 15th August, 2014

Weekly Chart

• Price action giving us a exhaustion candle at resistance

Daily Chart

• Fridays Candle was a bearish engulfing
• MACD is very close to crossing over

Hourly Chart

4hr Chart

• Broke the steep ascending trendline
• MACD Negative divergence

1Hr Chart

•  1Hr chart shows our first Lower high and lower low swings 

Recommendation:

Overall, i see a start of a short term bearish trend, perhaps to the 81.10 level .

Tips -

Always take note of any economical news event on our provided calender below