Dollar Index Short Term Sell IdeaH4 - Strong bearish momentum
Uptrend line breakout
Lower lows
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Dollarindexshort
Dollar Index Short Term Sell IdeaH1 - Lower lows.
No opposite signs.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds my short term view remains bearish here.
US Dollar Index Short Term Sell IdeaH4 - Price respected a key resistance zone and bounced lower.
Uptrend line breakout.
Lower lows.
H1 - Bearish trend pattern.
Currently it looks like a correction is happening.
Until the two strong resistance zones hold I expect the price to move lower further after pullbacks.
DXY Analysis - Short SetupI am under the anticipation that XXXUSD pairs are accumulating and USDXXX are distributing.
Based on the current price action of the DXY chart, I am anticipating weakness in the Dollar.
This is the setup I have based on DXY, which would have to be translated to respective Forex pairs and/or Commodities, etc.
The safest protocol at the moment is to wait for convincing displacement and structure to form before taking the trade. We have CPI and PPI at the end of the week, so I will see how price forms before that.
2 possible scenarios I will be looking for.
1.) DXY creeps up during the week until CPI to my point of interest, then that could be a good signal for this analysis to play out.
2.) DXY creeps down then pumps up during CPI, and then lingers at my point of interest before PPI, then that could also be a good confluence.
My only concern is that the DXY wants to continue rallying to take out the higher timeframe trendline liquidity and fill imbalances back at a Premium level. I would be surprised due to the increased hedging by commercials. But, anything is possible!
Yours truly,
R2F
DXY Daily TA BearishDXYUSD daily guidance is bearish. Recommended ratio: 5% DXY, 95% Cash.
*Cryptos and Commodities markets are signaling a bullish open to a week of mute economic data before CPI on 12/13 and the last FFR hike announcement of 2022 on 12/14. More volatility is to be expected with increased supply chain disruptions due to reduced exports from China weighing on Big Tech ( Apple in particular ). While certain major cities like Beijing, Shenzhen and Shanghai are loosening Covid restrictions in effort to quell protests and reinvigorate dampening domestic demand. A price cap imposed by the G7 + Australia on Russian oil took effect today, the $60/barrel price cap applies to any third-party countries who intend to use G7 or EU tankers, insurance companies or credit institutions to ship Russian oil . Russia responded by saying they would cut production while OPEC+ reiterated their commitment to a 2m output reduction until 2023 . This will likely push the price of oil higher. Ukraine has also mentioned that Russia hasn't launched any large missile offensives in the past two weeks and that they are likely gearing up for another significant strike on Ukrainian energy infrastructure in attempt to break Ukrainian citizens down during the winter.
Commodities, Cryptos, US Treasurys, HSI, CNYUSD, GBPUSD and EURUSD are up. DXY, US Equity Futures, N100, NI225 and JPYUSD are down.
Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price has broken below the 200MA at $105.57 as support and is currently trending down at $104.22 as it approaches $103.15 support which coincides with the uptrend line from May 2021. Parabolic SAR flips bullish at $106.83, this margin is mildly bullish at the moment. RSI is currently trending down slightly at 32, the next support is at 23.34. Stochastic remains bearish and is currently testing max bottom. MACD remains bearish and is currently trending down slightly at -1.45 as it breaks below -1.21, the next support is at -1.66. ADX is currently trending up at 30 as Price continues to fall, this is bearish.
If Price is able to bounce here then it will likely retest the 200MA at ~$105.60 as resistance . However, if Price continues to break down here, it will likely test $103.15 support which would coincide with the uptrend line from May 2021. Mental Stop Loss: (two consecutive closes above) $105.60.
DXY Harmonic EW Macro Top Reached as ProjectedIt's been a while since I projected this move, and I think it's time for the US Dollar to take a break. At the same time I expect a major a recovery in most markets of the world, including the GBP and EUR.
DXYThe dollar index has entered the resistance range and there is a possibility of a correction to the range of 102,500.
If the dollar index can break the range downwards, a downtrend will happen.
This is my personal opinion. Please do not trade based on my analysis and data.
Dollar Index, perfectThe price responded perfectly to the signal sent by the MCS in H4.
After this excess of strength, the price pushed down until it reached MML H4, giving us the opportunity now to place a Stop Profit below the entry point.
Let's set the new Stop Profit at 96.72
Once we reach 38.2% of the last bullish vector we can lower the Stop Profit on the MML to 96.05, where the price is now.
Dollar idnex H4 ready to sell dont missed Trade setupDollar index H4 ready to sell don't missed Trade setup
A BEARISH DOLLARPRICE HAS BEEN ACCUMULATING FOR THE PAST 3 MONTHS, IN AN AREA WHERE ON THE HIGHER TIME FRAMES, LEFT AN IMBALANCE IN PRICE. BELOW THIS AREA OF IMBALANCE WE STILL HAVE MORE PRICE INEFFICIENCY IN THE 80'S PRICE RANGE. PRICE DID IT'S THING AND HAS TRAPPED BREAKOUT TRADERS AND NOW, THE EXPECTATION IS TO SEE PRICE MOVE LOWER TO FILL SOME OF THE INEFFICIENCY BELOW. PROJECTING PRICE TO GET TO AT LEAST 85.50
USD INDEX Is Setting Up for Potential DeclineThe decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend.
Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag and has fulfilled the requirement.
Confluence that the price is also sitting at a resistance zone and approaching 78.6 Fib, a bearish reversal is imminent.
While the 99.66 invalidation level remains intact, watch out for bearish price action signal from the resistance zone. The breach of the Flag channel or blue horizontal line will confirm the bearish setup.
What's your view on Dollar?
DOLLAR INDEX SHORT FORECASTThis is my view of the dollar Index and I like this because it supports my view on Gold for the coming weeks/months.
Good luck!
Fibz
short 99.11 with 2 Targetbearish divergence +overbought in many ime frame
also gbp and euro are oversold and exrtremly low
a rebound/correction is legit
when i will reach 98,79 i will close 1 lot and put The SL of my other lot at near my entry point to be safe and sure keep some profit
DOLLAR BEARISH SETUPFriday's trade closed with a huge bearish engulfing candle that stretched out of the daily range. This indicators present a bearish outlook of the dollar this upcoming week.
Dollar Index approaching support, potential bounce! Dollar index is approaching our first support level at 95.77 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 97.24 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
DXY - Daily Key Elements Key levels to look out for Dollar index, please refer to our h4 chart for a strategic view!
