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Until DXY beats this price, this is just a bear flag!Traders, The dollar continues its journey down. So, is my H&S pattern still intact? Well, on the weekly it is. Does that count? I think so. It's not like the dollar has turned the corner here and growing stronger. We are still very much in a downtrend. Even that right shoulder is still valid. And, like I said, on a weekly chart that neckline still holds. Once broken, the dollar is in trouble. What would invalidate my H&S pattern? Well, if the dollar beats that 50 day moving average and then proceeds to move up and above that 103.53 level with confirmation, I might be wrong and would have to re-evaluate at that point. Until this time, the DXY has formed a classic bear flag and I expect weakness to continue. The weaker the dollar, the more dollars it takes to buy a thing. The more dollars it takes to buy a thing, the higher the prices will go to reflect what is needed. This includes stocks. Stay tuned as we keep our eyes on this unfolding event. Stew
TVC:DXYShort
by stewdamus
DXY Reversal Anticipation - Short BiasDXY reversal outlook. I believe DXY is still going to go lower. Possibly another thrust up before the reversal. A new month is about to start so I will be anticipating the monthly Power of 3. The bias for lower DXY is COT reports of Intermarket assets and the lowest point of DXY falling short of the Weekly FVG. This rally could just be inducing liquidity. There is trendline buyside liquidity way up, but I would be quite surprised if it gained that much strength. If it did, probably a Black Swan liquidity sweep. The first reversal point could deeper into the Daily FVG that it tapped into, into an old NDOG. The second reversal point could be at a Weekly Mitigation Block with a lower timeframe Order Block, at or near the 70.5% OTE level. The third reversal point could be at the highest Daily FVG after taking out an intermediate high. This is all anticipation. Always wait for confirmation, and always be ok with not being right in your analysis. As ICT says, you can be right in your analysis and still be unprofitable, and be wrong in your analysis and still be profitable. We are here to make money.
TVC:DXYShort
by Road_2_Funded
6
$DXY -Middle Range Warzone (105vs100)- TVC:DXY seems to be wanting a break-out from Resistance Trendline coming from 114 Highs, despite failing to do so. A Resistance Trendline that has pushed the price lower each time price has approached it. Wether that break-out and resumption is bound to happen or not in the short term, it is yet to be seen. Currently, TVC:DXY is in the midst of a Middle Range War-Zone, struggling for direction. For now, Price-Action suggest a Lower High being printed at 104.5 , a Lower High from 114 Downtrend. By Breaking Structure(BoS) of the most recent Lower High (LH) 104.5 would validate the Trendline break-out and suggest furthermore uptrend continuation for TVC:DXY , headed for the the Range's Ceiling at 105.8 and testing the broken macro structure Support Trendline Move towards 105.8 range's ceiling would be quite bearish for overall Financial Market's condition. While a move to the range's bottom at 100 level would be quite promising for other Market Sectors to continue performing well. Very interesting week ahead for The Markets, especially TVC:DXY , which dictates Financial Markets Swings *** TRADE SAFE NOTE that this is not Financial Advice . Please do your own Research before partaking on any Trading Activities based solely on this Idea.
TVC:DXY
by Mr_J__fx
The dollar looks bullishI really don't think the dollar is going lower here. We've largely been moving sideway for the past 6 months consolidating. You'll see on the chart that price action in January fell below key support. Then after that we rallied and tested the 200 DMA 3 times and have also retested support 3 times and haven't broken through. Now that price action is well above support, I think the next big move is up through the 200DMA. The only way the dollar is going lower is if it breaks that key support. And I think we need to see a higher dollar before that support is broken. I bought a lot of $30 UUP calls for September to express this view.
AMEX:UUPLong
by benjihyam
BluetonaFX - DXY US Dollar Fragile After FOMCHi Traders! The US dollar is showing signs of fragility after the expected 25 basis point interest rate hike from the Federal Reserve and the FOMC press conference today due to the ongoing high inflation issues in the US economy. This was reflected in the price action on the DXY 1D chart. The market hit the 50% Fibonacci retracement level at 101.590 to continue the bearish impulsive wave, and the US dollar index might continue down and go back under the 100 level to target the support level at 99.578. There is further data out of the US tomorrow, and if we get further bad news from the US tomorrow, we might possibly get the break below 100. Please do not forget to like, comment, and follow, as your support greatly helps. We appreciate your support. BluetonaFX
TVC:DXY
by BluetonaFX