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DXY Index will Go Down to next Support zone✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴. 🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢. 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🔔After breaking the 🟢 Support zone($104.30-$103.89) 🟢, I expect the DXY index to continue declining until the next 🟢Support zone($102.86-$102.420)🟢 . U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYShort
by pejman_zwin
4
Gold and Silver We had a nice week for gold and silver. Both rallied higher as DXY fell and reached below 103. The level that we have been waiting for in the past weeks. Now that DXY had a nice weakly bearish candle closing below 103, what should we expect for gold and silver? Would this rally continue this week as well? I don't know. I'm just enjoying the ride. However, there will be always a correction. so let's talk about that. As you can see silver exactly followed our green scenario in the past three weeks. Gold also moved in the direction we expected and surprised me with its vertical move. 😁 I think this week we can also see green weekly candles in gold and silver and a big red candle in DXY. However, in case of a correction at THESE PRICES, these are my expected levels for gold, silver, and DXY. GOLD: A strong support for gold would be $2040 - $2080 area. SILVER: A strong support for silver would be $23 - $23.5 DXY: A strong resistance for DXY would be 103.5
OANDA:XAUUSD
by SamanFx0
DOLLARINDEX REACH DAILY TARGET 103.200 Life happen for you not to you.. those who fail to plan, plan to fail.. Traders our discipline and consistency prevail again today. If you don't fail you are not even trying, don't complain about the trades you lost and the money you did not make.. A lot of people spend dollar but do not make money from it.. With detailed analysis we have prepared ourselves for success by just preparing for one bag. DXY drop from 104.000 to 103.300- .200 area. We bagged 200 pips from GOLD You have a skill that only 3% of the world population have, that why you should not quit. I will never quit.. I love trading.. Today is successful Looking forward to tomorrow. Thanks for trading with me today.
TVC:DXYShort
by stuckinprofit
DXY BEARS COULD RETEST 103.000 I often talk about the power of looking over our trades for those highs and lows over time, not because we can not trade but because we can be dynamic. Well to put it simply, I am bullish on DXY this year but price failed to break above 105.00 and 104.000 respectively.. Price seem to be unfolding to bring about something beautiful on the chart, this might just be what we need, the world seem to always give us what we ask for, and instead of accepting the continuation of my previous bias, I accept the evolution of my self and for my sake and the world, I am not afraid to share this.
TVC:DXYShort
by stuckinprofit
DXY - 4H bullish signsBased on the chart, my bullish stance on the DXY (U.S. Dollar Index) is due to the clear pattern repetition visible in the price action. The Index has formed what appears to be a bullish channel pattern, showing higher lows and higher highs within a confined range. The recent break above the consolidation zone within the channel suggests a continuation of the uptrend. The repeated ability of the DXY to bounce off the lower trend line of the channel and push through the upper bounds demonstrates a strong underlying buying pressure. Historically, patterns like these can often precede further upward movements as the market respects the established trend. This technical analysis implies that the DXY has the potential to continue its upward trajectory, maintaining the trend that has been established over previous cycles within the chart. Remember to follow for more updates and insights as we keep an eye on the DXY's performance.
TVC:DXYLong
by Sober_Trading
Greenback Correcting Its Dovish OversoldWhat market participants expected: - 2023 Sept: Betting one last rate hike (a 4th in year 2023) in Nov/Dec FOMC meeting. - 2023 Dec: No rate hike in Dec FOMC meeting. Afterwards, expected the Fed to cut in March 2024 What the Fed told us: - According to the 'dot plot', majority of committee anticipate a 50-100 bps cut by the end of 2024. - Powell once said the Fed will act if inflation comes back up. USD movement: - "Hawkish" Nov/Dec rate hike expectation fell short that was interpreted as Powell's "dovish" stance. - Implied 150 bps rate cut mismatched the Fed's projection. - Speculations amplified the "mismatch" during holiday session when traders and fed officials are in the holiday. - When volume comes back after holiday, markets act to correct. Technical view: - DXY still being the triangle, i.e. support found upon its upward trendline - Short-run key level would be 103, where around a former bottom - Actual resistance should be 104 when an inverted Head and Shoulder pattern is forming.
TVC:DXYLong
by kenhungbiz
1
Eur/Usd March 24'... Risk on Sentiment? 🕶️Eurusd new monthly candle! The February monthly candle closed a bearish doji candle. This suggests that we may continue a bearish descent from the January monthly engulfing candle. At the same time it appears that price is respecting Weekly level 1.0763 and there is Risk-On Sentiment in the markets following optimistic Cad inflation data from 2 weeks ago. Apologies if this analysis was a bit scattered and have a nice day! 0:0 Intro and Monhtly timeframe 1:50 Weekly timeframe 3:31 Daily timeframe 3:51 back to Monthly to explain new monthly candle potential 5:10 back to daily timeframe 6:53 4Hr timeframe 8:16 1Hr timeframe Attempted a brief analysis but ofc it ran longer than I would've liked :)
Long
by ShrewdCatfx
DXY - Bearish Outlook? (ICT)This is my analysis on the Dollar Index. It seems to me that DXY is finally ready to move lower, at least in the short-term. The seasonality of the DXY peaks about now and weakens all the way until the start of May. Whilst this is not the core of the analysis, it helps add more confluence. Price-wise, I notice that last week's high took out the bodies of the previous 2 weeks before displacing to the downside, leaving a lovely Unicorn setup. In my eyes, this is already good to look for a short in that area. Further confluence is there is trendline sellside liquidity building up, so for a narrative we may be looking for price to touch/pierce or come close to it first before entering the Unicorn setup. If more sellside liquidity is created before entering the setup, even better. Let's see how it goes! - R2F
TVC:DXYShort
by Road_2_Funded
Dollar Index (DXY): Trading Plan For Next Week Explained 💲 Dollar Index is coiling around a solid rising trend line. We can see a nice consolidation on a 4H time frame. To buy the market with a confirmation, look for a bulilsh breakout of 104.3 resistance. 4H candle close above that will confirm a violation. A bullish continuation will be anticipated then at least to 104.65 Alternatively, a bearish breakout of a trend line may trigger a bearish continuation. ❤️Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
7
Dollar Surges as German PMI Data Triggers Reversal SignalsThe dollar index has surged strongly following today's release of the German Flash Manufacturing PMI, revealing a contraction in industry expansion with a reading of 42.3. This unexpected downturn not only affects the Euro but also casts implications on GBP pairs. The disappointing figures have sparked concerns among investors, potentially exerting downward pressure on both cross pairs against the USD and paving the way for a correction that could boost the Dollar's value. From a technical standpoint, the USD appears to be rebounding, finding support at the dynamic trendline of the uptrend. This coincides with the convergence of the 200 Moving Average and the 50% Fibonacci retracement level from the previous swing low, suggesting a significant level of support for the currency. Additionally, the Relative Strength Index (RSI) has dipped into oversold territory, indicating a potential reversal in price direction. Traders are closely watching for signs of a correction and subsequent increase in the Dollar's strength. In light of these technical indicators, attention is turning to the possibility of employing a cross Moving RSI average strategy with a 70-30 trigger as confirmation. This strategy, which is detailed in an educational post linked below, could provide further insight into market movements and assist traders in navigating the current landscape of uncertainty. As market participants analyze the implications of the German PMI data and monitor technical signals, the trajectory of the Dollar index remains uncertain. However, with the potential for a correction in the cross pairs against the USD and the technical indicators suggesting a rebound, traders are advised to stay vigilant and adapt their strategies accordingly to capitalize on emerging opportunities in the forex market.
ICEUS:DXYLong
by FOREXN1
3
DOLLAR_INDX,DXY H4 1 March 2024DOLLAR_INDX, H4 The Dollar Index maintains a steady position as the US Core PCE Price Index registers a decline to 2.4% on a yearly basis in January, in line with market projections. Despite the dip, the impact on the Dollar's performance against other currencies is limited, as attention turns to additional economic indicators, including disappointing Initial Jobless Claims and Chicago PMI figures. The Dollar Index is trading higher following the prior rebound from the support level. MACD has illustrated increasing bullish momentum, while RSI is at 61, suggesting the index might extend its gains since the RSI stays above the midline. Resistance level: 104.50, 104.95 Support level: 103.70, 102.90
TVC:DXYLong
by top_fx
Ascending Broadening Wedge in DXY - Up or Down?As seen in the chart, there is a "Ascending Broadening Wedge" pattern in the DXY. This is normally a bearish pattern with a trend reversal. Therefore, we have two options in front of us. 1) The first option is for the wedge to have one more leg to the upper resistance line. This can happen when the minor bearish trend line is broken to the upside. 2) The second option is a break of the wedge lower support line, which could start a new downtrend in the DXY. We will find out next week which one will materialise.
TVC:DXY
by DenizTrading
Eur/Usd Friday Today we can observe the end of the week. Price action was uncertain this during London session. At NY open 1hr candle we recieved a candle closure above the consolidation from London session. This suggests a breakout to the upside as we mirror clean traffic candles to the left and head towards 1.08534. If not, then it is friday and the weekly candle may pull back down into the range to end the week. At that we would be heading back towards 1.0805 with the next 4hr candle.
Short
by ShrewdCatfx
1
Manufacturing Data turns Manic 👹Welcome back traders to another Top-Down Analysis for Eur/Usd. We can observe an increase on EU that began on Tuesday of this week. As the week has progressed we have slowly climbed up to the next Daily Level 1.088. Better than expected numbers for EURO manufacturing data has provided a nice boost of bullish momenutm and continuation for the Eurusd to the upside. However, we've now filled the clean traffic range on the 1hr/4hr timeframes that extended from 1.080. In the coming session I am anticipating a selloff away from the Daily level 1.088. We may retest the high that we've created at 1.087 but things are looking a bit manic. Either way we must remain flexible with our bias when executing Intra-day.
Short
by ShrewdCatfx