US$ Direction on DX 03-13 E-mini Futures Contract

My direction Long term, in “Long” if we keep the same commitment from buyers. Right now, we should take a break as a consolidation or go back to resistance #2 or #3.

DX

US$ Direction Weekly:

On Weekly chart, we din’t close above the double top. Is why, Buyers will probably take a break and then push one more time and should easily pass this price next time. For this they need to go back at MA50 and MA200 , or at least as close is possible.  and then, enter in market with higher volume than past move UP.

dollars

US$ Direction Daily:

On daily chart, we can see many support for buyers, and is why I say I was “long” before . Notice also, we are creating a new Bullish channel. We are leaving the small, to create a bigger one. Is not yet Donne/confirm, but look like it will.

#1 resistance: this resistance was break by buyers, On weakly chart. And will become a support for buyers. I don’t think they will use this support at all, but you never know, right?

#2 resistance:  Is the price I was watching for US$ to close above last week. And we did. Right know is a very strong Support for buyers.

#3 resistance: Is a Lower trend line of Bullish Channel support for buyers. I’m looking actually to touch this price, before creating new high on DX.

#4 resistance : This is a resistance for Buyers now. But, Buyers showing that they will pass this price very soon.

Why? Thursday they pass this price, did not support, but  buyers close at they price. And Friday, they get even higher…still did not support this price again, but close once again at higher price than previous day. It actually show us , that we may not even take a break before close above this resistance. how ever, I’m waiting a pull back, before taking go long.

PS: as i mention before, i will be on vacation, and won’t be able to bring my computer. I may not make my call during the week, on different index (and so far it look like, is a great weak to make some). Great Week everyone! will be back, for next week!