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Dollar_index

DXY $Index Cup & Handle Pattern H2 Chart Target 94.40(23.6%Fib.)INDEX:DXY Update for DXY...After "No Stimulus 'til after Election" triggers market to buy $Index(DXY). Previously, as linked ideas, I had called for a DXY bounce at beginning of September. DXY proceeded to bounce from its 2011 Long Term upwards trendline, retracing to the 23.6% Fibonacci level($94.40) of the March to September drawdown. From there I forecasted that DXY would come back to test the 14% Fib. area and the local trendline(blue dotted upward sloping). The news of no stimulus conveniently triggered "Risk-Off", subsequently turning the market to the safety of US Dollars(DXY). On the 2-Hour Chart I see a cup & handle formation. The handle retracement looks complete at 50% Fibonacci retracement, subsequently reclaiming the(blue dotted) upward trendline. The target for the measured move is back to the 23.6% Fib. area of $94.40.... Again, I maintain my stance regarding the DXY as I will copy paste my previously published analysis statement: Oct 1 INDEX:DXY I had been calling for DXY to retrace after reaching the 23.6%($94. 40 ) back to local trendline and 14% Fib. The DXY pulled back to $93.53, just shy of the 14%, as well as the local trendline(blue dotted line). Now we find DXY regaining its corrective momentum to the upside. I still contend that the 138.2%($95.39) Fibonacci extension of correction is in play, and perhaps the 38.2% Retracement ($96.04)! Perhaps the final corrective wave(call it "C" or "Y") will end in a 5 wave diagonal, not impulse? To reiterate; I believe DXY is following a similar trend as in 2016 during the election period in the USA! In 2016 $Index was able to rally through the election into early January, 2017. It was at that point that the DXY began to breakdown for one year. During this time Bitcoin (& Crypto) inversely correlated, and of course was able to rally to its ATH as the $Index found a bottom in January, 2018. From there the Dollar has rallied up until March of this year(2020), at which point the Dollar again broke down, and has found support on its Long Term trendline. I believe a similar pattern will play out, give or take a month or three, and DXY will eventually break below the 2011 trendline. Let's see how it all goes....
TVC:DXY
by TheFreeCryptoPress
DXY 93.81 + 0.09 % LONG IDEA * PRICE ACTION, BREAKOUT & CNT PTNSHELLO EVERYONE Here's an idea on the DOLLAR INDEX that has seen seen some bullish moves in the last couples of weeks after a bearish trend since march. the INDEX broke the 50 M.A and is currently trading above this level. most of the details are in the chart so hope this idea assists in anyway on your trading of the index. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
TVC:DXYLong
by PULEMokhothu
2
Impressive reversal pattern on the daily with the dollar.Inverted H&S Break Even Failure Rate 11% Average Rise: 45% Throwback Rate 65% Percentage of Price meeting price target 71% Trend: Downward leading to pattern Price: Must have something to reverse, so if the decline leading to the pattern is small, expect a small rise. Volume: Highest on left shoulder or head “A short-term drop (0-3 months) leading to the pattern results in the best postbreakout performance. “ "A higher left shoulder valley when compared to the right shoulder valley results in worse post breakout performance." - so one could assume the inverse is true? a lower left would result in Better breakout performance?? Breaking right to R3, and not passing on first go is not unusual. With a potential bottoming pattern - right now I'd say the trend for the dollar is to hard to call frankly any trade on. I'm leaning bullish on the dollar, which sounds insane, and does not bode well for commodities - but this pattern on the daily is indicative of a reversal in the dollar. The dollar folks may be getting higher here despite "brrr". Keep in mind how poor the velocity of M2 supply is right now. And keep in mind the Fed giving guidance that rates will be low for years is hinged to their confidence that essentially inflation is really not coming, certainly not hyper inflation or anything high. Very interesting to see if the dollar has found a bottom here. Not advising any trade right now.
TVC:DXYEducation
by ZenMode
7
The rally has only started. Wyckoff accumulation + fundamentalsAs we expected American Dollar rallied last week. The price forms Wyckoff accumulation on a daily chart. It makes sense to look for new entries when the short-term oscillator gets oversold. I got so many questions last week about DXY and most of them were like – ‘Why do you expect a rally if US data is so weak?’. Well, the dollar is not just a currency, it is a safe haven. Besides, it is undervalued, unlike gold. We still have a lot of risks related to coronavirus and its impact on the economy. It can trigger a significant rally in DX. Besides, there is a strong setup in this market: The weekly pinch-paunch indicator is 58 (a sign of trend change) The valuation model – undervalued COT – bullish Intermarket forecast – bullish Seasonal – bottom at the beginning of October With that in mind, we want to look for and take buy signals using any trading entries.
ICEUS:DX1!Long
by UnknownUnicorn1156963
Is It Bitcoin Time? Dollar Index at 2020 LowThe Federal Reserve’s decision to let inflation run while keeping interest rates low is helping boost crypto, Darius Sit, managing partner of QCP Capital, told CoinDesk. “The market was looking to the Powell speech to see if there’d be any hawkish indications – clear plans to end liquidity injection and cheap money,” Sit said. “There was no sign of hawkishness so the party has resumed.” Sit noted the continued decline of the U.S. Dollar Index, which measures the greenback versus a basket of global currencies. The index continues to drop, down 0.12% Monday and hitting fresh lows for 2020.
TVC:DXY
by danielcawrey
We are close to entry point in dollar. ExplainedWe have discussed previously a potential rally in the American dollar. Now we are getting really close to the potential entry. However, accumulation is weak. That means it will take another week or two to get a signal. Accumulation builds momentum. That’s why it is so important. We have very strong fundamental setup for DXY rally: COT – commercials are heavily long Evaluation model – the dollar is undervalued COTSI Index – very high Intermarket forecast – upside. We need a technical signal to confirm the coming rally. It always takes some time to get one once we have a fundamental setup. So, likely we will see a bit more of a rally coming in a few sessions, followed by a pullback. It will give the dollar enough time to build momentum and form a signal to go long.
ICEUS:DX1!Long
by UnknownUnicorn1156963
2
Dollar potential entries. ExplainedWe discussed bullish fundamental setup, but still no entry. There is a clear trendline on a daily chart. Breaking above is an entry. The most conservative traders can wait till DXY breaks and hold above 7 days high. It has been a long time since the dollar did that. So, breaking and holding above is sign bulls have got the strength to reverse a trend. The most aggressive traders can enter once and if higher low will be formed before breaking the trendline. But this trade is too risky for me. This market has a good fundamental setup and you can use any entry technique to pick up a trade.
ICEUS:DX1!
by UnknownUnicorn1156963
2