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DXY new target?My view for the next week(s) for DXY. FUNDAMENTALS: Following the new trend started in 2024 and displayed in January and February, DXY infact did a new 4h and daily break of structure to the upside, giving a clear shift in sentiment. The fast devaluation of dollar regarding the early cuts is being rejected and in the last FOMC and Powell interview he made very clear that jobs are strong and inflation too. They are aiming for a soft landing and they might get it. If this next CPI on Tuesday is as expected or green, that would give more confirmation for the FED to do a soft landing and cut slowly. If the FED cuts slow the rates, it would give more strength to the dollar and could give us a very strong bullish leg. TECHNICALS: Monthly is still bullish. Weekly is still bullish. Daily is still bullish. It did a new HH on Daily and 4h. It went to the 0.361 fibo area and got rejected as its first test. Im expecting a quick dive to gather liquidity and fill some gaps in the 103.700 - 103.450 area which generates confluence with Weekly 0.5 fibo and with 0.61 and 0.70 fibo in this mini leg on the 4h, is also the last breakout zone. If we analyze in Wyckoff method, the spring that generated the previous to the breakout is giving us a retest which is a nice area to genearte a re-accumulation. This could also be a very explosive move because it will align with CPI news. VIEW: Expecting a liquidity sweep at 104.150-200 in Asia on Sunday. Followed by a powerful move to the downside to reach the accumulation area before CPI on Tuesday. The target is going to be 0.286 fibo in the weekly with the -0.272 extension of this mini leg. I expect to reach it by Thursday/Friday morning. Good luck to all!
TVC:DXYLong
by the_gats
XAUUSD Technical Analysis 12th February 2024 1h chart– Previous Weekly candle closed Bearish above recent Weekly Support, forming new Weekly Resistance around 2040s. Friday Daily candle closed Bearish. I’ll be looking for potential Buys above 2027.500 targeting recent 1h Resistance (2033.000) and 4h strong Resistance (2037.600), there could be a potential retest of recent Weekly Resistance around 2040s. I’ll be looking for potential Sells below 2020.400 targeting 4h Support (2015.800) and next 4h strong Support (2009.200).
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 9th February 2024 1h chart– Thursday Daily candle is 2nd Daily candle closing Doji Bearish for this week, leaving 140 pip rejection wick to the downside as price retrace back into recent 4h Consolidation Zone. I’ll be looking for potential Buys above 2039.000 targeting 4h Rejection formed on Wednesday during New York Stock Exchange session (2044.800) and 1h previous Support formed on Friday last week (Pre NFP) at 2051.400 . I’ll be looking for potential Sells below 2029.300 targeting recent Daily Support at (2025.000) and 4h Support formed on Thursday during the New York session at (2020.300). Sells targets are much smaller than buys simply because of how price rejecting the downside on the Daily timeframe.
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 8th February 2024 1h chart– Wednesday Daily candle closed Doji Bearish around 2035.000 rejecting 2045 area on Daily timeframe, I’ll be looking for potential Buys above 2042.500 targeting Weekly Resistance (2049.200) and Daily Resistance (2055.200). I’ll be looking for potential Sells below 2030.700 targeting Daily Support (2025.000) and Weekly Support (2018.500). Overall price ranged on Wednesday on the hourly timeframe and 4h formed a Rejection to the upside during the New York Stock Exchange session.
OANDA:XAUUSD
by SalimFX20