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Dollar index (DXY) 2016-2017 Analysis: 100 need to be touched beTalking Points: DXY Technical Strategy: Keeping bullish outlook but temporary correction due Elliottwave Count: Nested impulsive count, wave 4 correction is due Analysis DXY (Dollar Index) is trading impulsive in post election session and able to break channel resistance. As per our last analysis, we were suspecting corrective count towards 100 level as wave 4 target. Looking into wave structure, we are expecting we are part of last leg of correction from 103 to 101 and we are expecting another leg is still due which can be targeted below 100.00. 100 is also 100% fibbo expansion of zig zag correction and also be in previous wave 4 zone and can be consider as potential reversal zone. Action As We are expecting small set back to re-test channel support, we are looking to re-initiated our long position on dollar basket, i.e. we are looking to sell EUR/USD (Euro / US dollar), NZD/USD (New Zealand Dollar / US Dollar), Crude Oil, etc. However, for shorter term, we are shorting dollar and buying counter currencies and commodities. We already long on GBPUSD, Gold. -- By Hoagtradng.com (@hoagtrading)
TVC:DXYLong
by Hoag
After The Trump USD Rally, What's Next?Afternoon guys.. 2016 was a roller coast for markets. A year ago investors were in panic about deflation, indeed as the year progressed a good case inflation scenario unfolded. The market reaction following the US elections was even faster that expected. In real terms the USD is ~8% above its 20y average but still 8% below its high in 2002. Hedge funds are long the USD, real money remains short which is a relatively similar positioning in the last 12 months. Rate momentum has been especially negative for EUR. Meanwhile USD remains an asset with strong equities and the steepest rates trend, capturing the most hawkish monetary policy in G10. I remain bullish on the USD for the years ahead, there are short term risks such as the BoJ's credibility in easing monetary policy vs. the ECB. Alongside the contributions fiscal policy will play this year as a potential leader over monetary policy.
DLong
by TheBanker
9
Dollar Index a great Buying OpportunityIn this article I will be doing Elliott Wave Analysis of the Dollar Index, as you can see from the current count that we are in a Wave 4 of a higher degree Wave 3, hence it calls for a buying opportunity. I believe that the 38.2% level that is coming near 100.24 should act as a Region of Support and hence buying can be initiated there. Strategy : Wait for reversal near 100.24 to buy. Stop Loss : Close below 98.97 or as per your Risk Management Targets : T1: 103.94 T2: 105.08 T3: 106.22 Please note that as per this analysis more upside persists but these are the targets in the short term, I will look at further targets in a later post.
INDEX:DXYLong
by NeeravYadav