U.S. Dollar IndexShort
Dollar Outlook for Week 25 -> DXY, EUR, JPY, GBP
Last week some nice USD setups developed.
The biggest change in USDCHF came from the somewhat unexpected SNB move to increase interest rates by 0.5%.
Overall I am still not convinced that $ is going much higher... DXY seems to lose steam and might be range bound within 106 and 102.
EURUSD confirmed at least MT a double bottom at 1.035 and is now resting at RL 105.
A clear BO with consolidation above 1.065 would open up more long potential
GBPUSD formed a nice H&S pattern and is now retesting the neckline at 1.22 LTF continuation confirmation is needed to confirm the MT long bias.
USD JPY is a tricky one.... refer to chart for more insight....
→ All the current Outlooks are still based on MT weakening of the USD.
→ Outlook solely based on PA.
Wait for confirmation before entering a trade and consider FX correlation.
-------------------
Glossary:
HTF – Higher Time Frame
LTF – Lower Time Frame
MT – Medium Term
DT – Down Trend
UT – Up Trend
BO – Break- out
PA – Price Action
CS – Candle Stick
SL – Support Level
RL – Resistance Level
TC – Trend Channel
Color Code:
Blue solid line – Actual PA Structure
Blue dashed line – Legacy PA Structure
Violet dashed line – Area of Sensitivity S/R Levels
Orange dotted line – My Alarms
The biggest change in USDCHF came from the somewhat unexpected SNB move to increase interest rates by 0.5%.
Overall I am still not convinced that $ is going much higher... DXY seems to lose steam and might be range bound within 106 and 102.
EURUSD confirmed at least MT a double bottom at 1.035 and is now resting at RL 105.
A clear BO with consolidation above 1.065 would open up more long potential
GBPUSD formed a nice H&S pattern and is now retesting the neckline at 1.22 LTF continuation confirmation is needed to confirm the MT long bias.
USD JPY is a tricky one.... refer to chart for more insight....
→ All the current Outlooks are still based on MT weakening of the USD.
→ Outlook solely based on PA.
Wait for confirmation before entering a trade and consider FX correlation.
-------------------
Glossary:
HTF – Higher Time Frame
LTF – Lower Time Frame
MT – Medium Term
DT – Down Trend
UT – Up Trend
BO – Break- out
PA – Price Action
CS – Candle Stick
SL – Support Level
RL – Resistance Level
TC – Trend Channel
Color Code:
Blue solid line – Actual PA Structure
Blue dashed line – Legacy PA Structure
Violet dashed line – Area of Sensitivity S/R Levels
Orange dotted line – My Alarms
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.