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DOLLAR: Possible Correction ComingWelcome to this new trading idea! We are looking at the 15min chart of the Dollar Currency Index. Price did nearly touch last highs. Looking at the daily timeframe we can see that price consolidates a lot in this area. Also there is a wick candle forming for today. Getting back to our 15min chart, price retraced and made a peak high with divergence on our RSI. After that we are looking for shorts only by keeping in mind that there are new highs above the daily consolidation zone. There is no trade for us in this currency now. But looking on the Dollar in terms of correlation always helps to determine different moves of other pairs. Example: EUR/USD is also on its very bottom, where i would love to see a retrace also. Keep in mind that tomorrow the monthly candle will close. Wishing everyone a great upcoming weekend!
TVC:DXYShort
by darian_fx
3
The price of eur/usd is moving now!The price of eur/usd is moving now! It stopped below the dynamic resistance identified by the EMA20 daily. So it did not complete the movement that we expected this week. The analysts had expected a slight decline in the US dollar against the other majors because of the FED conference, the announcement of the pay slips of the non-agricultural sector and the level of unemployment. The price is going to look for the static resistance set around 1.13 on this pair. For after the announcement of Trump on the new duties that will be imposed on China, the USD has strengthened again. We close at Break Even the bullish position that we had opened on EURUSD. Technical point of view The main trend remained unchanged. The final target is reachable within a few months among the static supports set at 1.10-1.08. There wasn't the rebound we expected, is now very likely that it will continue in this downtrend.From here (1.12) the price should start to go down and re-test the non-key static support at 1.112 within a few sessions. Once tested and broken to the downside there will be confirmation of a channeling on the part of this change projected to the downside. Here the price will bounce between the upper and lower side until it reaches the minimum of the period which will presumably be the area around 1.08. Fundamental point of view Even the fundamental scenario supports this view. The European Central Bank will continue to adopt an expansive policy, devaluing the Euro. The FED does not intend to take steps back by cutting rates and reviewing its monetary policy. Trading ideas The price of eur/usd is moving now and the possible TPs that we will set for this pair are: -the first one on the support of the 1.112.-the second on that of the 1,104.-the third on the final target at 1.08 and coinciding with 78.6% of the Fibonacci retracement. The analysis will be invalidated at the break of the resistance zone in the 1.146 area.
Long
by BFCMInvest
US Dollar downtrend momentum Monthly Candlestick Forming spinning top, Bullish momentum since January 2019, EMA's indicate uptrend. Weekly TF we see strong Bearish momentum, although blue EMA and Major Support zone held last week and price has been consolidating for 9 weeks. On Daily, we saw how price went down on Monday and found support at 97.00, broked it and continue down, pullback on Thursday and finished the week with a strong bearish engulfing candlestick formation. Price has crossed EMAs and we could expect a crossover next week. If we step down to 4H TF we can see how EMAs crossed over on Monday, a counter trendline was formed, we can see Head and Shoulders pattern completed this week, then price continued bellow 97.00, pulled back on Thursday and went down Friday and closed bellow previous day high.
TVC:DXY
by TatanTrader
Rare crossing : huge move?I've never seen such a pattern in the S4W Horizon indicator. It's really a very tight crossing that is happening. I think it's an ignition point to something big to occur. So based on my analysis, I won't be surprised to see an important bullish move. But I think also there is a correction, unfortunately to occur at 3850 USD. Right now the S4W Horizon indicator is still bullish, let's see if that micro-crossing is talking for a big up move or for something else. Right now, as I said, I don't have a clue, since it's new. but I think it's an important moment that occurs since that crossing is showing up. I can't tell more. Let's watch. Don't take my words for granted, analyze, analyze, then trade at your own risks PS: if you like my analysis, join to get more analysis. I like to be Liked too (like/2/B/Liked/2)
BITFINEX:BTCUSD
by Atemak
4