Short term direction of the Dollar - DownLast week's breakout ended with e daily Pinbar.
It looks like DXY is heading to test 95-96 as potential support now
Dollar_index
Dollar index - 95 level critical+Fundamentally US macro data is supportive for $, just as Fed communication.
+Trump comments could not harm the greenback.
+100% Fib level retested after breakout
+50D EMA holds as support
-USD rally seems to get stretched a bit
-Uncertainty around Trump persists -> uncertainty for USD
DXY rebounds off key 95 supportThe dollar index is in a pullback from an uptrend on the daily chart. 95 is key support
Scenario A) 95 holds and price pushes higher toward 96.15
Scenario B) 95 breaks and ends uptrend for larger drop
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
$AUDUSD | Long Term Analysis | Coming Into Major SupportHello Traders,
Long term analysis shows AUDUSD coming into major support. Idea invalidates if new low is made on Weekly time frame. This is not so much a trading idea as it is an overall market perspective. Support zone is defined by my model and supported by structural support.
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
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 :)
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.
$USD Breakout/Rally and $BTC.X Breaking Below 6kThe rally in the dollar creates a headwind for #bitcoin as dollars become more valuable against cryptos. In addition, this dollar rally puts pressure on the economy as the financial economics start to tighten. Will continue to monitor prices from here.
DXY INDEX ANALYSISDXY index broke 98.86-94.91 zone and also the head and shoulders pattern neckline. now we are going to see higher moves for dxy index.
DOLLAR BULLSDollar breaking out of ascending triangle
bullish wave 3 breakout 97.65 second target is 99.28
Part 3 - Risk-off August - DXY DailyDXY – Daily Resistance & Support:
Resistance: 95.00 / 95.50 / 96.00 / 98.00 / 102.00
Support: 93.90 / 92.85 / 92.00 / 91.10 / 90.00
DXY – Summary:
Expected to commence a Bearish Impulse at or around 95.00 or 95.50 Levels
Bullish Impulse expected around 92.00 / 91.00 Levels
Dollar ShortThere's a little bit of deceleration going on the dollar, if we cannot break to the upside I see a serious sliding to the "long term trend".
So I'll be watching USD/CAD USD/JPY EUR/USD & AUD/USD very closely. There's some BIG opportunity if this happens. Remember this is a Swing Trade! this will not happend a day or a week from now, we need this to develop and tell us whats the possible scenario.
Inverse Head and Shoulder - DXYAs you can see, there would be a classic inverse head and should pattern on DXY chart.
Also daily chart has a distinguished divergence on RSI and MACD.
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.
Stop hunt, False Break and a Pinbar - The Dollar is going downI've been writing about the option of a bearish correction wave in DXY in the recent weeks.
Last week's stop hunt leads me to think that this time it will break down and continue towards the 200 MA line.
All it needs now is to break the short term support....
DOLLAR INDEX NEXT MOVE... No any strong sign to short DXY yet... wait for daily closure to confirm
if daily close strongly above 95.00, indicate a good bullish momentum still in the market.
otherwise a spike above 95.00, indicate a weak bullish momentum start happening.
Market will swift away around.
So be careful with shorting too earlier...
Aim for better entry price..
overall DXY is bullish to me till this point despite all the news about trade war...
US market is position itself for greater year ahead into 2018-2019
while China market will assist on this while consolidate its overprice market for a better healthier market.
Longest bull market in history in making.
GREAT FEAR vs GREAT GREED
DXY continue to the downside?? Daily candle closed bearish, we could see a little pullback and then continue the bearish movement until 93.50 region
Dollar Index ResistanceHey traders! Hope you're having a good day wherever in the world you are :) So today I bring forth to you the dollar index which just doesn't seem like it doesn't want to give up it's monstrous run up in the past few weeks... until now I hope. I've drawn in what I think might be a good area of resistance and you know what that means. Time to look for shorting or long opportunities that are paired with the dollar and/or even commodities such as Oil, gold, etc.
So get to it and lets make some $$$$.
