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DXY Poised for Bullish Rebound: Targets Set for 106 and Beyond The U.S. Dollar Index (DXY) is showing signs of a potential bullish rebound as it approaches a critical ascending support line. Currently trading around 104.957, the index has maintained this uptrend since early 2024, suggesting strong underlying support. Technical Analysis: Support Line: The green ascending trendline has been a key support for the DXY, providing a solid foundation for potential upward movements. As the index approaches this line, we could see a bounce back toward higher levels. MACD (5, 8, 3): The MACD indicator, despite showing a slight bearish divergence with the signal line crossing below the MACD line, is hovering near the zero line. This suggests that bearish momentum is weakening, and a bullish crossover could be imminent. RSI (26, 14, 2): The RSI indicator is currently at 42.43, indicating that the index is nearing oversold territory. Historically, RSI levels around 40 have marked the beginning of bullish reversals for the DXY. Additionally, the RSI is nearing a key support level, enhancing the likelihood of a bounce. Bullish Targets: First Target: 106.00 The first target for the DXY in a bullish scenario is 106.00. This level has previously acted as resistance, and breaking above it could signal further bullish momentum. Second Target: 107.50 If the index manages to surpass the 106.00 level, the next target would be 107.50. This level represents a previous peak and would serve as a significant milestone for the bulls. Major Target: 109.00 In a sustained bullish rally, the DXY could aim for 109.00. This major resistance level would mark a significant recovery and indicate strong bullish sentiment in the market. Conclusion: The DXY is currently positioned at a crucial juncture. The ascending support line, coupled with weakening bearish momentum on the MACD and an oversold RSI, suggests a potential bullish reversal. Traders should watch for a bounce from the current support levels, with targets set at 106.00, 107.50, and 109.00. Maintaining a close eye on these technical indicators will provide clearer insights into the future direction of the DXY.
TVC:DXYLong
by blacklegend55
DXY Seems to be going sideways with a upward biasCurrently, the DXY is touching the 25MA. Usually, price tends to bounce off this line or cross it and test the price action, determining if price should go lower or higher. Here we can see this test play out. With quite a bit of support, it's possible that price will continue to move along this sideways trend. Since the sideways movement is indeed going upward, we want to follow the trend, therefore we are long. Furthermore, the stop loss is set exactly after some lower lows, since breaking below this level would mean that the current sideways uptrend is over and a downtrend has begun.
TVC:DXYLong
by DarkMessiah777
Bitcoin Weathers the Storm: Resilience Shines Despite DollarBitcoin (BTC), the world's leading cryptocurrency, has surprised many by demonstrating resilience in the face of a strengthening US dollar. Despite a historically observed inverse relationship between the US Dollar Index (DXY) and Bitcoin, this comes. The DXY, which measures the value of the US dollar against a basket of foreign currencies, currently sits at a lofty 106, indicating a robust greenback. This level is significant, having only been surpassed for 34 trading days in the past year. Traditionally, a strong dollar weakens the appeal of dollar-denominated assets like Bitcoin, as investors seek havens in other currencies. However, Bitcoin's current price action defies this historical trend. While not at its all-time high, Bitcoin is currently trading only around $10,000 below that peak, a testament to its continued strength in the market. Several factors may be contributing to this unexpected decoupling. Shifting Investor Sentiment: The cryptocurrency market has matured significantly since its early days, and investor sentiment is evolving alongside it. While Bitcoin was initially seen as a speculative asset class, it's increasingly viewed as a potential hedge against inflation and traditional financial uncertainties. This shift in perception could be mitigating the negative impact of a strong dollar on Bitcoin's price. Institutional Adoption: The influx of institutional investors, such as hedge funds and investment firms, into the cryptocurrency space is another potential factor. These institutions often have a longer-term investment horizon and may be less swayed by short-term fluctuations in the dollar's value. Their presence could be lending stability to the Bitcoin market. Bitcoin Mining Difficulty Adjustment: The Bitcoin network is designed to adjust mining difficulty roughly every two weeks automatically. This ensures a consistent rate of new Bitcoin entering circulation, regardless of the computing power dedicated to mining. An upcoming significant decrease in mining difficulty is anticipated, which could further bolster investor confidence. Positive Developments Within the Crypto Ecosystem: The broader cryptocurrency ecosystem is witnessing continuous innovation and development. The emergence of Decentralized Finance (DeFi) protocols, Non-Fungible Tokens (NFTs), and Layer-2 scaling solutions is attracting new users and capital into the space. This overall growth in the crypto ecosystem could be spilling over and positively impacting Bitcoin's price. Uncertainties Remain: Despite the positive signs, it's important to acknowledge the inherent volatility of the cryptocurrency market. The future trajectory of the DXY and broader economic conditions will undoubtedly continue to influence Bitcoin's price. Additionally, regulatory developments and potential security breaches could pose challenges in the future. Looking Forward: Bitcoin's resilience in the face of a strong dollar is noteworthy. While the reasons behind this decoupling are multifaceted, it suggests a maturing market with a growing pool of long-term investors. As the cryptocurrency ecosystem continues to evolve and gain mainstream adoption, Bitcoin's position as a store of value and a potential hedge against traditional financial instruments could solidify further. However, close attention should be paid to both internal and external factors that may impact Bitcoin's price in the coming months and years.
TVC:DXY
by bryandowningqln
DXY is about to melt down...Hey Traders, The dollar index has been moving to the upside making some form of a wedge or a contracting diagonal. According to the basic technical analysis and based on Elliot waves theories, we should expect a reversal once the diagonal is completed. In addition to that, we can observe divergence by looking at the MACD. This indicator is used to predict when the reversal will happen. How can we benefit from the dollar index? The formula says: If the dollar index or DXY is bearish then we should expect the opposite for XXXUSD pairs. For example, If DXY is Bearish then we should look for EURUSD LONG. By looking at the price action and by counting the recent waves, we expect one more move up before the move down. What is our confirmation for the DXY bearish scenario? We can use the break of 50 EMA on 4H timeframe as a confirmation for XXXUSD LONG and USDXXX SHORT. If you like this type of analysis, don't forget to hit the LIKE bottom. If we hit 50 likes, am gonna show you how we can look for a trade using this idea. Have a Good trading week!
TVC:DXY
by Tradenessfx
DXY - Daily start of bullish legThe Dollar Index (DXY) has experienced two significant bullish legs followed by pullbacks. Currently, it is at the end of the most recent pullback. Notably, the falling momentum appears to be weakening, as evidenced by the shorter and less intense downward legs during the pullback phases. This weakening momentum suggests that the bearish pressure may be subsiding, and the DXY could be preparing for another upward movement. As illustrated on the chart, the previous pullbacks were marked by substantial declines. However, the current pullback is characterized by weaker downward legs, indicating a potential shift in market sentiment. This could lead to the DXY resuming its bullish trend if it manages to break above the recent resistance levels. Traders should closely monitor the price action for confirmation of a reversal, which would be supported by stronger bullish legs and the continuation of the uptrend.
TVC:DXYLong
by Sober_Trading
2
US Dollar Index (DXY) Outlook ICT Concepts💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on DXY , dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 📊 Using DXY as an Indicator for Trading Decisions The DXY ( US Dollar Index ) can be a valuable indicator for guiding trading decisions. Traditionally, the EUR/USD and DXY exhibit an inverse relationship. When the US Dollar strengthens, EUR/USD tends to weaken, and vice versa. This inverse correlation is rooted in the fact that the Euro represents the alternative currency in the pair. 📈 Analyzing Price Action Since the Start of June In June, significant price action unfolded. The market swept the previous month's low ( PML ) and broke its structure decisively, initiating a bullish movement. The key confirmation of the bullish momentum was the strong hold of the Inversion Fair Value Gap ( IFVG ). 🔄 Current Market Developments Currently, the market has surpassed the previous week's high ( PWH ) and established an Equal High ( EQH ). We are now approaching the significant resistance level of the previous month's high ( PMH ). 📉 Internal Levels and Price Reactions Below the price chart, a Volume Imbalance ( VI ) emerged, triggering a reaction marked by a wick before the market approached the PWH . There's potential for price to revisit this VI , along with addressing the Fair Value Gaps ( FVG ) and Order Block ( OB ) formed in that area. 📈 Forecast and Strategic Considerations Looking ahead, there's an expectation for further upward movement, targeting the EQH and PMH . Subsequently, a new bearish phase might unfold. For any bullish positions, it's crucial to wait for the absorption of sell-side liquidity before considering entry. 🙏 Thank you for joining us! Exploring DXY today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
TVC:DXY
by RealArmin
Wyckoff Bullish Patterns - Dollar getting stronger! Easy MoneyICEUS:DX1! Dollar getting stronger on daily and weekly chart! Wyckoff Wave Indicator shows the power of buyers who are taking control. How Wyckoff Wave Indicator works? The Wyckoff Wave Indicator and the Weis Wave Indicator are both technical analysis tools derived from the principles of Richard D. Wyckoff, a pioneer in the field of market analysis. Here’s a breakdown of each: Wyckoff Wave Indicator The Wyckoff Wave Indicator is designed to track the cumulative volume flow of the market. It helps traders understand the underlying strength or weakness by showing the overall trend of buying and selling pressure. The indicator accumulates volume with price movement to depict the market's overall sentiment. Key features include: Volume Analysis: It considers the volume associated with price movements, indicating whether the market is being driven by strong buying or selling. Trend Identification: It helps in identifying the primary trend of the market, whether it's bullish, bearish, or sideways. Divergence Signals: It can show divergences between price movements and volume flow, providing potential reversal signals. Weis Wave Indicator The Weis Wave Indicator is a more modern adaptation of Wyckoff's principles, developed by David Weis. It simplifies volume analysis by plotting cumulative volume as waves, making it easier to visualize the flow of buying and selling pressure. Key features include: Wave Calculation: It aggregates volume over price waves, making it easier to see the ebb and flow of market pressure. Wave Counts: By tracking the volume associated with each wave, traders can see whether buyers or sellers are dominating. Market Structure: It helps in understanding the market structure by breaking down movements into distinct waves, each associated with specific volume patterns. Comparison Purpose: Both indicators aim to analyze volume in relation to price movements, providing insights into market strength and potential reversals. Visualization: The Wyckoff Wave Indicator typically presents cumulative volume in a straightforward manner, while the Weis Wave Indicator uses wave patterns for a more intuitive visual representation. Application: Both indicators are used in conjunction with other Wyckoff principles and tools to develop a comprehensive market analysis strategy. Usage in Trading Identify Trends: Both indicators help in determining the dominant market trend, which is crucial for making informed trading decisions. Spot Reversals: By analyzing volume flow, traders can spot potential reversals ahead of time, improving their entry and exit points. Confirm Breakouts: The indicators can confirm the validity of breakouts or breakdowns by showing whether there is sufficient volume to support the move. Tools and Platforms VolumeDayTrader offers script of such indicators on TradingView. For more details check our profile or DM us.
NASDAQ:ALTLong
by VolumeDayTrader
DXY 4H ( institutional price action )hello dear trader and investors there are 2 senario for dollar currency index: senario 1: We have a price gap.... from 2023 The indicator can fill it with its shadow around the area of ​​106.65 after testing the 106.65 price can drop ... senario 2: Let's wait for the 107 zone to see how the institutions want to play with liquidity... I expect a HH and a lower low, after removing the stop on both sides (buy and sell ), I expect the dollar to fall... stop loss need for any position good luck
TVC:DXYShort
by mehdi_kb
Dollar Winning Streak Extends Into Fifth Week! Time to Go LongI wanted to share some exciting news from the forex world: the dollar has extended its winning streak into the fifth week! 🎉 A key gauge of the dollar's strength continues to rise, driven by the ongoing uncertainty surrounding the timing of the Federal Reserve's first interest-rate cut. With the yen showing signs of weakness, the USD is shining brightly on the global stage. This is a golden opportunity for us traders to capitalize on the dollar's momentum. If you haven't already, now might be the perfect time to consider going long on the US dollar. 🌟 Why should you consider this move? 1. **Strong Performance**: The dollar's consistent growth over the past five weeks clearly indicates its robust performance. 2. **Market Uncertainty**: With the Fed's interest-rate cut timeline still unclear, the dollar is likely to remain strong in the near term. 3. **Yen Weakness**: The yen's current weakness further bolsters the USD's position, making it an attractive option for traders. Don't miss out on this opportunity to ride the wave of the dollar's success! Dive into the market and make the most of this winning streak. 💪 Happy trading, and here's to continued success in all your endeavors!
TVC:DXY
by bryandowningqln
DXY H4 - Long SignalDXY H4 Support price of 105.100 held nicely. We seemed to bounce as we look to continue the bullish trend up towards that next target price of 106.500. Certainly possible, even maybe today if we gear up for more dollar bulls moving into the US session. We need to first sustain this break above the previous high, we have drawn the resistance (black line) marking previous H4 resistance. Possible retest (could offer entries for ***USD or USD*** pairs if they align).
TVC:DXYLong
by Trade_Simple_FX
Strong Dollar: Geopolitics , US Economy & Tech Drive Currency UpThe US Dollar Index (DXY) is experiencing a surge, reaching unprecedented highs. This brief explores the key drivers behind this trend, including geopolitical dynamics, contrasting macroeconomic conditions, and the US's dominance in the technology sector. * Geopolitical Uncertainty: Heightened tensions in the Middle East, particularly the potential escalation between Israel and Hezbollah, raise concerns of regional instability. Historically, such events trigger a "flight-to-safety" phenomenon, where investors seek refuge in stable currencies like the US Dollar. Additionally, the potential for increased terrorist activity and political unrest in Europe as a consequence of these tensions could further propel capital flight towards the US, bolstering the Dollar's value. * Favorable US Macroeconomic Fundamentals: The US economy exhibits robust performance compared to Europe, characterized by strong GDP growth, low unemployment rates, and relatively stable inflation. This economic strength is further amplified by the Federal Reserve's stance on maintaining higher interest rates to combat inflation. These factors make US assets more attractive to investors, driving up demand for the Dollar. * US Technological Preeminence: The US is a global leader in technology, housing some of the world's most influential companies like Apple, Nvidia, Microsoft, and Google. This concentration of tech giants fosters significant economic growth and innovation. Moreover, it attracts substantial global investment into the US, further strengthening the Dollar. Conversely, Europe lags in the technology sector, limiting its ability to attract similar investment flows. This technological disparity incentivizes investors to favor US markets, contributing to the Dollar's appreciation. In conclusion, the rising Dollar Index is a result of a confluence of factors. Geopolitical tensions, particularly in the Middle East, are prompting investors to seek safe havens. The robust US economy and its dominance in the technology sector offer further advantages compared to Europe. As these dynamics unfold, the trend of a rising Dollar Index is likely to continue, presenting both challenges and opportunities for investors globally.
INDEX:DXYLong
by signalmastermind
Dollar's Rally Wins Over Traders as Fed Decision LoomsThe U.S. dollar capped its strongest weekly run since February, buoyed by a shift in sentiment among traders as they awaited the Federal Reserve's upcoming policy decision. After weeks of anticipation of potential interest rate cuts, the market witnessed a reversal as the greenback regained its allure. This recent surge comes from a five-day winning streak for the Bloomberg Dollar Index, a gauge of the greenback's performance against a basket of major currencies. The index rose by over 1% during this period, marking its most significant weekly advance since early 2024. This bullish sentiment towards the dollar is a reversal from earlier market expectations. Previously, many traders had positioned themselves for a dovish turn from the Fed, anticipating potential interest rate cuts in the latter half of the year. This anticipation has contributed to a weakening of the dollar in recent months. However, recent economic data and comments from Fed officials have cast doubt on the likelihood of imminent rate cuts. Upticks in inflation figures and a robust labor market have fueled speculation that the central bank might maintain its current hawkish stance for longer. "The recent economic data has painted a somewhat different picture than what the market had initially expected," noted Sarah Lopez, a foreign exchange strategist at a leading investment bank. "Stronger inflation readings and a resilient job market suggest the Fed might need to stay the course on its tightening policy for a while longer." This shift in expectations has prompted traders to reassess their positions. Many who had previously bet on a weaker dollar are now scrambling to cover their short positions, leading to a surge in demand for the greenback. "We've seen a significant unwinding of short dollar positions in recent days," commented Michael Jones, a currency trader at a major financial institution. "The market is starting to price in the possibility that the Fed might hold off on rate cuts, and that's giving the dollar a much-needed boost." "The Fed's language will be critical in determining the dollar's next move," said Lopez. "If the statement suggests a continued commitment to fighting inflation, the dollar could extend its gains. However, any dovish hints could trigger a renewed selloff." Beyond the immediate impact of the Fed decision, the dollar's long-term prospects will depend on several factors, including the relative path of interest rates in the U.S. compared to other major economies. "The dollar's strength will likely hinge on the divergence between U.S. monetary policy and that of other central banks," explained Jones. "If the Fed remains hawkish while other central banks stay accommodative, the dollar could continue to appreciate." The recent resurgence of the dollar has implications for various asset classes. A stronger greenback can make U.S. exports more expensive and less competitive, potentially weighing on corporate profits. Conversely, it can make dollar-denominated assets, such as U.S. Treasuries, more attractive to foreign investors. In conclusion, the dollar's recent rally underscores the dynamic nature of currency markets. As economic data and central bank pronouncements evolve, so too do investor expectations. The upcoming Fed decision is poised to be a pivotal moment for the dollar, with its outcome likely to shape the currency's trajectory in the coming months.
TVC:DXYLong
by bryandowningqln