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Dollarindex_setup

DXY - Failed 4th Attempt to Break Above 78.6% RetracementThe Dollar Index failed for a forth time on Friday to hold above the 78.6% retracement level from the recent down swing and closed out with a typical Doji looking candle. This suggests we might start to see some selling action but please note that last Monday ( May 11th - Green-line should be pointing there ) the markets starting fleeing for safety and buying the greenback as concerns about the US reopening and loosing restrictions around COVID19. If we see a repeat of last week, well expect DXY to continue north, otherwise we should see some bearish continuation. Trade Safe - Trade Well Cheers!
TVC:DXYShort
by Michael_Harding
US Dollar Index Technical Analysis: retraces down after US GDP DXY found resistance at the 98.34 level after the release of the US GDP (Gross Domestic Product) Q1. *Chicago PMI *CB Confidence * ADP Non-farm Employment Change and THe ISM Manufacturing PMI four Report looks better then ever . Until date 1, these three market mover data. last week's GDP growth and was solid. These reports are better then the ones that are good. May 2 FOMC , Rate Decision and Press Conferences. Even before we saw that progress from the FED member to the Powell is good, trying to increase the rate of not being influenced of Dovish statement was very broad. This FOMC and Press conference will also try to keep the strongest Dollar stopping and rating the Dovish statement. And 3 May, is the labor market report. if there is a chance to have a dollar strand even now that's why Apra will try to stop the dollar's power from being on the date with a Dovish statement. the ADP expects too much if the NFP expects less then before. so seeing the ADP report, we can be sure of how NFP can be. and if expectations are less then 1,00,000 / 81 thousand people, they can not be called bad. Below 150k is actually bad to say. The dollar must sell the market will not believe anything. If we are part of the ISM Manufacturing PMI's Employment component, we can be more convinced about the NFP. ADP and ISM Manufacturing PMI's Employment component the main tool to learn how NFP can be our main tool. TECHNICALLY the dollar index the projection of the reports is called positive forecast. In this case, the dollar index will break 100/100.40 at any time breaking 98.40. That means that around 200/25 pips will be able to make the dollar stronger, unlike Euro, Pound, and Swiss France. But the question is, what is so strong dollar for the American ? I do not thing so, but they will not be able to stop the reports.The hedge fund, the bank will not want to easily hit and hit it, but it will not stop because the reports are good. What can the FED do ? Yes, there is still a power in their hands that is FOMC. It can protect it from being too strong and i think that will happen. Technical key levels:- =================== Daily SMA100 96.66 Daily SMA200 96.17 Previous Weekly High 97.49 Previous Weekly Low 96.79 Previous Monthly High 97.71 Previous Monthly Low 95.74 Daily Fibonacci 38.2% 98.2 Daily Fibonacci 61.8% 98.12
INDEX:DXYLong
by Saleh11
Stop Loss hunting in dollar index and EURUSD ?The next days may be critical for the dollar index. If markets defend around 96.30 and aggressively break through 96.15, there may be a significant downward move on the dollar. Another target on the dollar index is 95.80, 95.50 and 95.20. It is worth paying attention to the fundamentals, in particular, the situation in Italy. If there are serious problems related to Italy, it is likely that the downward scenario on the dollar will not work.
TVC:DXYShort
by bjc9
USDJPY approaching 2012 trend lineUSDJPY (Daily) is nearing five year long up trendline, will price break the trend line ? or will be this another retest to break 2015 highs ? Since last year this pair is moving side ways with successful retest of support zone three times. Now price is in the support zone and RSI is over sold @25. Last time RSI oversold like this in the support zone was back in April,2017 after that price zoomed to the resistance. This time support zone is the confluence of 2012 trendline, 50% and 61.80% fib retracement from August 2016 and 38.2% fib retracement of 2012 low.Break of this trend line will bring this pair to 100.
by rf16saun
DXY price is approaching near to the six year long uptrend lineDXY Weekly Price is nearing a very important price point 88, after breaking the massive symmetrical in 2014, it never had a pullback near to the triangle except for last year's fall which is ongoing. Pre-break out of the symmetrical triangle a well respected uptrend line was formed in 2011. After more than three and half years price is finally coming to re-test this six-year long uptrend line, massive Fib confluence, support and uptrend line converge around 88. Break of this area will leave a potential to retest the triangle @80 and if the uptrendline is respected then a potential move towards @110. If price fail to hold the traingle then the equal move down from 2002 will break DXY to 54 range (Damn). Mind you long term chart of this is bearish and this fall (From 2017)is after perfect retest of 61.8% retracement of 2002 high.
TVC:DXY
by rf16saun
Dollar Index broken weekly upper rangeGreat news for Dollar bulls. On the weekly time frame the dollar index has finally broken the upper range. This is a strong indication that we might finally see a trend reversal and a stronger dollar over the next weeks. Previous down trend lasted 25 weeks if you start counting from the start of the channel. If you like to hold position for a few days and make good pips then next week look for buy entries on the daily and 4 hour time frame.
TVC:DXYLong
by JoshFX1
Dollar Index View On 2 Time FramesCurrently the Dollar Index is hard to predict, it can go either way and on neither time frame there's a clear trend. So I have placed the daily and the 4 hour next to each other to see if we can make a prediction. First the daily time frame that will tell the trend for the next week. There's A LOT of room down to the lower range of the bigger channel and some decent room till the next support, on this support the index bounced back 3 times before. Within this bigger channel there's currently also a smaller channel which is the upwards trend to the upper range. Currently it's very close to touching the lower range of the smaller channel. Indicators are very bearish and don't support a bounce back yet, so its possible there will 1st be a smaller red candle that will really touch the lower range. The 4 hour time frame that gives use the short term view for Monday and maybe Tuesday has just bounced back from the lower range and we can also draw a new upper range inside the range. If on Monday the 1st 4 hour candle will close above the new upper range we will see it go up till the upper range of the big channel before possible going back down. This move up will take about 3 candles maybe 4 which equals 12-14 hours. In short: 4 hour time frame, 1st candle 4 hour candle of the week close above the new upper range (teal) we see it go up before going down. Since this can take 3-4 candles we will see the Dollar Index going up at the first half on the day before eventually retracing back down because it bounced of the upper range of the big channel. Daily time frame, harde to predict. A lot will depend on Mondays close. For now I will go for a bounce back up in the smaller range up to the upper range of the big range. Of course when the lower range of the small range breaks price will at least go down to the support level. So we probably see the first 2-3 days of the week the dollar index going up before retracing back down at the end of the week.
TVC:DXYLong
by JoshFX1
1
Dollar Index's future depends on this week I had no intention of publishing this analysis yesterday as I thought Dollar Index (DXY) would continue its consolidation mode for several days. However, when I saw 4-hour chart close above the drawn ascending triangle, I had to publish this analysis. For the past several days, I've been watching this Index as this is one of the keys on trading Dollar pairs. Understanding the behavior of the Index is one of a must for Forex traders -- even commodity traders. Close above this ascending triangle may also become a false breakout. So, watch out!
TVC:DXY
by bearvsbullmarket
Dollar Index Preparing Next BreakdownThe past days the Dollar Index has been touching the lower range, it lackek bullish momentum to bounce back up cancelin the 5th wave. ADX shows that the bearish trend is still strong while the Stoch Rsi still indicates strong sell pressure. Because of this we can assume that the Dollar Index will break-out of the lower range next week. Possible targets 98 and 97. Please note that on allot of Dollar pairs you see setups against the dollar, so this alligns with the bearish setup on the Dollar index.
INDEX:DXYShort
by JoshFX1