DXY H1 Set To Test 101.16 NextIn this update we review the recent price action in the #DXY and identify the next high probability trading opportunity and price objectives to target
Dollarindex
USDJPY - Quiet Day for ScalpsOANDA:USDJPY
Quiet day as the overall S&P market crawls a bit higher, and the DXY heads lower.
Good day for UJ scalps, frustrating day if going for the huge runs.
Range was about 75 pips across all sessions.
Trade well
DXYThe price touched top line of big channel and came back to complete pullback on big triangle it was broken. The price had reaction when touched top line of triangle and break up and after that had correction. I think its time to bullish.
DXYAre harmonics going to help DXY to rise?
If harmonics does help , what will be the minimal target for DXY.
According to harmonics the mild target seems to be around 104.
What you think of it ?
Forecast on Dollar Index
Will DXY evolve into bullish pullback and reach to 103.600 level for end of march ?
DOLAR INVERTED HSHan inverted HSH appears to be forming after touching the long-term guideline. The dollar is beginning to gain strength with the looming banking crisis and has begun
NY open Volume may take us to next Daily Zone? >1.07995We must first make it Past 1.07825 4Hr/1Hr Zone. Ny Open may provide the catalyst to move up to the next daily zone as we have planned and mentioned in yesterdays publishing.
Price is creeping up towards resistance zone at 1.07825 as we transition into the NY Session. This is suspicious and we could breakout to the upside as we have clean traffic on the 1Hr Timeframe
up to 1.0833. It is monday and is a good idea to start the week out on a good note and follow your trading plan. If the new 4Hr candle closes above 1.07721 then I like buys more for the session. If not then we may range or go back to lows of our rnage at 1.07425
Dollar Index (DXY): Key Levels to Watch This Week 💵
Here is my latest structure for Dollar Index.
Resistance 1: 103.11 - 103.63 area
Resistance 2: 104.74 - 105.1 area
Resistance 3: 105.667 - 105.88 area
Support 1: 100.82 - 100.88 area
Consider these structures for pullback/breakout trading.
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DXY BEARISH WAVE COUNT SENARIOWave (v) is expected to reach the 50 - 76.4 fibonnaci area. This analysis will be invalid if price manage to close above the invalidation level.
Wykcoff Distribution Phase...DXYAs i hear more people talking about the accumulation phase for Bitcoin, which i kind of agree, but if this is a Wykcoff Distribution for the DXY setting up then i full on agree for accumulation phase of BTC. Fingers crossed and long!
DXY D1 UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
DOLLAR INDEX - FUNDAMENTAL DRIVERSThe greenback could be relatively stable in the near term. There is some potential for safe-haven support for the U.S. dollar, but further Fed tightening should be modest, and global central bank actions to make dollars more readily available will likely provide an offset to potential dollar strength. Thus, we expect the U.S. currency to come under renewed pressure before long, with the U.S. economy expected to fall into recession later this year. Aggressive Fed easing starting in Q4-2023 should add to downside pressures for the greenback.
Analysis predicts trading range for DXYThe dollar index has broken the previously mentioned support at 103.5 in the analysis and has reached a strong resistance level at 102.5. The index failed to close below it on any daily candle.
Looking at the 4-hour chart, it seems like the index tried to stabilize below the resistance but was unsuccessful. Based on my analysis, I expect trading to be between 102.8 and 103.5-103.7, as shown in the attached chart. Specifically, I anticipate a slight price drop with a correctional move to 102.8, followed by a rise towards the resistance level at 103.5. If the index reaches 103.7, the rebound is likely to be stronger and more successful.
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Dollar Index Chart Analysis....
In this situation DXY chart create elliott wave Pattern. So,if breakout market
102:700 support Level Then market need long sell correction to nearest 102.200 and
101.100 Support level. If breakout 104.000 resistance level, then market will go up 105.
resistance level.
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DXY: Under its 1W MA50, solid opportunity to sell long termThe U.S. Dollar Index is retracing its weekly losses to more than 50%. The rejection on its 1W MA50 though two weeks ago, maintains the long term bearish trend and that retracement makes it a sell opportunity again. With 1W technicals still in red (RSI = 41.988, MACD = -0.570, ADX = 23.107) and the MACD in particular on the same level as the start of the final sell phases of the previous two 1year corrections, we expect DXY to reach at least the 1W MA200. TP = 98.500.
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P2P | Update On All Mark UpsHello family! Things have been well in the markets this week for me so I hope the same for you!
As of today, I have redone my chart mark ups about 1-2x over the last few weeks so mostly everything is still fresh and unique. I go into detail about using my strategy to analyze trades on both higher and lower timeframes, and that they work just as powerfully. In my recent bias on #DXY I explained how I was bullish on the dollar overall. Due to further fundamental research I have realized that its best to keep a mark up for your guide and build off that, than to express it being what "you think the market will do".
I also go over a few other charts, pretty in depth on a #gold trade I marked up the night prior. I can say that I have achieved a stronger trading level in my skillset and I am able to share it on this platform, rights and wrongs!
So thank you again family and the support is always appreciated. Trade well, stay healthy, and conquer one step at a time.
