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DXY breaks below 21-EMA, eyes 23.6% FibDXY extends declines for the 4th straight session. U.S. President Donald Trump said he disagreed with the Federal Reserve’s decision to raise interest rates. Possibility that the Fed might slow down the pace of tightening in response to criticism from the White House weighing on the dollar. Technical indicators are biased bearish. RSI and Stochs have rolled over from overbought levels. We see -ve DMI crosover on +ve DMI and MACD is on verge of a bearish crossover on signal line. Price has taken support at 21-EMA, decisive break below will see further weakness. Scope then for test of 50-DMA at 94.94 ahead of 38.2% Fib at 93.65. Support levels - 94.97 (50-DMA), 94.92 (23.6% Fib), 93.65 (38.2% Fib) Resistance levels - 95.57 (21-EMA), 96.13 (5-DMA) Stay short on upticks, SL: 95.75, target 95
TVC:DXYShort
by FxWirePro
DXY short opportunity The US dollar index has retraced from 13-month highs at 96.98. Shooting star formation seen on daily charts and price has dipped below 5-DMA at 96.49. Intraday charts have turned bearish. Price action has dipped below hourly cloud and we see bearish divergence which adds to downside bias. Shooting star formation seen on daily charts and price has dipped below 5-DMA at 96.49. Price is holding support at 1H 100-SMA at 96.42. Break below will see further weakness. Next immediate support is seen at 96.31 (23.6% Fib) ahead of 1H 200-SMA at 95.84 and then 21-EMA at 95.50. Good to go short on break below 1H 100-SMA, SL: 97, TP: 95.84/ 95.50
TVC:DXYShort
by FxWirePro
GBP/USD counter trend buy tradeGBP/USD fell into what I call a double zone. First falling into the weekly demand zone and within that a smaller time frame (8 hour chart) demand zone. My entry was at 1.3105 with a stop market order in at 1.2699. I've decided to risk 2% of my account size on this trade and looking to take off 2/3 once it hits 3:1. Dollar has been very strong recently so I may be a bit more aggressive with taking profits. If you like my info guys please give me a thumbs up or follow me. Would love to hear more of your thoughts on my analysis as well. Thanks for viewing guys and gals :)
Long
by Agentzereo
7
DXY - Wave 1 of iii of 3 Nearing A TopThe Dollar has clearly started its larger agenda, with wave 1 of a very large degree iii of 3 (Very Bullish) nearing its completion. On the lower degree level an internal wave iii of v looks to be complete with the iv starting. A choppy wave iv and v should still be to come for the completion of the wave 1 which leads to the next main move being down in wave 2 into the Fall and possibly out to the end of year. Overall, the extremely bullish long-term picture has a LOT of upside ahead so keeping a clear awareness of that is recommended.
TVC:DXY
by TTCSteve
Dollar Index Exhibiting Strong Bullish SignalsThis may be my second or third time analyzing the dollar index, so bear with me on this latest go. Looking at the weekly chart, especially in the last year or so, we see there is strong evidence of a reverse head and shoulders, only that the left shoulder is still to be formed. But, the reverse left shoulder aside we still have another strong bullish indicator, the cup and handle forming. Which ever way you look at it there's a tone of technical evidence that the dollar index is fixing to weaken relative to the currencies that comprise it. This doesn't bode well for the proponents of the most recent "trade war" between the U.S., China, and Europe. With U.S. goods becoming more expensive relative to the rest of the world and the anticipation of higher prices from the tariffs imposed from those aforementioned countries; demand will lessen for U.S. goods both internationally and domestically and this has the makings of a inflationary slow-down in the economy, which is the worst type of recession.
TVC:DXY
by ReadySetBudget