Dollar_index
Price respects resistance zoneGold's price respects the potential Sell Zone mentioned in my newsletter this week
Daily Cypher and weekly structure in focus
EURUSD - Heavily bearish hidden with all the positive dataThis is my "personal views" please do not take my view as trading advice unless you are willing to lose it all.
I usually consider myself finding contrarian trends right before they settle in. I am sensing EURUSD is testing the resistance line after the breakout back in October. Earlier this was tested in November but failed to go above.
If we can stay below 1.2350 - 1.24 for the rest of this and next month then I can see a strong pullback first near 1.15 then a retracement to sub 1.19-1.20 area before giving up to all the way 1.07-1.05 where the weekly gap is still open.
This trend may complete by year end but I think this year is of USD Bulls and a bad start is to shake the confidence of the retail traders only.
3-4 Interest rate rise is given this year and Tax change shall take the $DXY, USDJPY nearly 5-10% from current levels and EURUSD should correct 10-15% and give up entire gains of 2017
Weekly Resistance 1.22-1.23EURUSD is probably heading towards the weekly structure zone 1.24-1.25 this year.
That's what my weekly chart's analysis shows
But, before it'll reach there, it will have to face a weekly resistance zone that includes 2 harmonic trading patterns.
1.22-1.23 includes a Butterfly and an AB=CD pattern
Read more about EURUSD, this pattern and other FX pairs in this week's newsletter (#WeeklyMarketsAnalysis on Twitter)
US INDEX - GLOBAL FORECAST 2018Hello Traders!
Accurately suppose, that the "Flat" model and Bull's "Cumulation Balance", will be on US index the whole 2018 year.
So... Based on intermarket correlation, it gives the opportunity for downtrend on EURUSD, GBPUSD, AUDUSD, NZDUSD and uptrend for USDJPY, USDCAD,USDCHF.
Best regards, team traders ''Powerful Traders".
Down but not out , positive divergence remainsso looking forward to next week all the BUYS been squeezed out, giving longs big chance for big gains
Long term look at the Dollar IndexA deviation in trend from the interest rate expectations pushed the index lower throughout 2017. The hawkish outlook of the fed & already high interest rate (compared to other major central banks) haven't stopped a push lower.
Always good to keep a look at the dollar index before making trades involving it.
Technicals
The fairly recent break below the 200DMA gave expectations for a continuation of the 2017 bearish sentiment.
Price currently sitting around an area that has acted as a good pivot point all the way back to 1999
.382 retrace off 2008 lows acted as support in september 2017
Dollar on deaths door?Break below support line would indicate bear market in the dollar. Gold should therefore outperform to the upside.
Dollar Index DXY short bias, monthly downtrendDollar Index DXY has a short bias, monthly downtrend with new supply zone created overhead, shorts at daily and weekly supply imbalances around 91 and higher. There is a void to be filled if monthly lows around 91 are broken. Most USD cross pairs are filling that void already and breaking lower. Shorts as well at daily and weekly supply zones on USDCZK, USDPLN, USDSEK, USDSGD, USDCLP, USDRON, and a few more.
Dollar is completing H&S top, suggesting next step lowerFrom past week DXY index was completing the right shoulder, today price finally broke the neckline. Still time to close but the massive engulfing candle looks like we will get a clear neckline break of the H&S. Let see if the Dollar hit the low of 90 in 2018.
DXY EoY outlookDXY HTF looking bullish, MS break and a dip into previous accumulation. Looking for price
to stay above the block and target the 96.60 area.
EI
USD Index - Support Bounce Hints Further AdvancesHaving bounced from key support at 93.455 last week price is making a run at key resistance at 94.030. A break above this area clears the way towards 94.850.
USD Index - Down Trend Still IntactDespite Shorts from 93.455 failing to break support, price still remains in a near term down trend. Failure to trade below 92.635 suggests a possible risk of re-testing 93.455 but ultimately Shorts are preferred. Price below 92.635 clears the way to 91.550.
Cypher pattern in focus near 1.2 If you are trading short term, EURUSD presents a bearish setup near 1.2 with a bearish Cypher.
But if you look at the broader picture you can understand that any bearish pullback will only create bullish opportunities and allow to buy EURUSD from lower levels following a weekly bullish breakout.
Cypher pattern setup:
Short 1.2
First target zone - 1.185
Secondary target zone - 1.177
Read more about EURUSD, DXY, SPY and XLF in this week's newsletter #WeeklyMarketsAnalysis in Twitter
USD Index - Last Weeks Capitulation Points To Further DeclinesLast week price broke below key support at 93.455 ending the week around the 92.635 area of support. This week we look for a correction and further declines with a break of key support at 92.635 clearing the way for the Bears towards 91.550
50 months MA line and a daily Cypher in focus DXY broke and closed below its 200 weeks MA line last week.
The holiday trading week (low volume) helped the sellers to push the Dollar beyond this important support line.
Now the next line of defense for DXY is the monthly 50 SMA line and the bottom of the structure zone (weekly) that you see in the chart.
The Cypher pattern and the 61.8 Fib level can be used as two potential entry zones for those who still hasn't lost faith in the Dollar's ability to rise!
Yellen testimony and U.S GDP in focus.
Read more about the Dollar, EURUSD and Stocks in this week's newsletter - #WeeklyMarketsAnalysis (search for it on Twitter)
Tries to break below important supportDXY is down today and tries to break below important short term support.
The Dollar must close above the 50 MA line by the end of the day in order to leave hope for the Bulls.
SP500; technical and fundamental analysis Hi trader's,
in this week's video I elaborate on the SP500 and why it might start reversing soon. There is a clear driver for the US indices and that will be tested soon. Short term we see a corrective structure that might make another leg lower before higher. That is what I need for a short term buy. Otherwise I focus on the short trade as explained in the video.
USD Index- Break Of Resistance Needed For BullsLast week the USD Index declined after two weeks of consolidation breaking key support at 94.030. This decline is still viewed as part of a correction and as a result we have a neutral outlook on the USD Index going into next week with a risk of a continued range. A break above the 94.030 level will indicate a resumption of the Bull trend.
