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DXY Nearing Supply Zone - Short Trade SetupDXY looks like it is setting up for a possible spike higher, but into strong resistance. Watch for sellers to step in if we break higher into the box region. 99.5 is a cluster of weekly candle closes and should offer strong resistance (previous swing high wick also). 100 psycological level above that, so bulls have their work cut out for them.. :) USD bulls went on a rampage yesterday.... Large daily candle may leave bulls a bit exhausted. Interested if a reversal in DXY will lead to a shift in risk sentiment. SPX nearing resistance around 3000, due for a little selloff imo... Watching gold / silver also for signs of support and a long entry opportunity.
TVC:DXYShort
by cccpKGB1
Dollar Index: Potential rebound points. Near 100 target.DXY has been trading within a long term 1M Channel Up (RSI = 58.550, MACD = 0.590, Highs/Lows = 0.6224) since May 2018. The pace has been very steady and the High - Low signals clear. The price mostly traded on the inner channel with the 1D MA50 and MA200 coming to support the next rise to a Higher High. We are currently pulling back from such a Higher High and the two potential rebound points are the MA periods and to a lesser extent (as it was only needed two times in the past year) the outer Higher Low of the 1M Channel Up. The targeted zone is 99.50 - 99.80 as suggested by the Low-to-High sequence. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXYLong
by InvestingScope
2
Dollar Index: Approaching the Higher Low. Buy opportunity.DXY was rejected in late May on a Double Top on 1D and sellers stepped in to push the price lower within the dominant pattern of the 1M Channel Up (RSI = 53.041, MACD = 0.390, Highs/Lows = 0.0000). The price broke below both the MA50 and MA200 but so far no Death Cross has taken place, so the selling will most likely stop on the Channel's Higher Low around 95.65. This is a strong buy opportunity for the next Higher High leg towards 98.90. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXYLong
by InvestingScope
2
Dollar Index: Resistance break out. More upside potential.The Dollar index broke the 97.70 1D Resistance this week, which has been rejecting any upside attempt since November 2018. This break out opens the way to further upside within the monthly Channel Up (RSI = 60.408, MACD = 0.450, Highs/Lows = 2.2271), which aims at a new Higher High. By our calculations this should be near 99.00 (inner channel), before the Channel pulls back again as it has done after every inner High pricing since May 2018. The extension afterwards goes as high as 99.70. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXYLong
by InvestingScope
Dollar Index: Buy opportunity lower.Following its most recent bull leg on 1D, the Dollar Index was again rejected near the 97.70 1W Resistance, causing the 4H Channel Up to break downwards (RSI = 40.558, MACD = -0.060, Highs/Lows = -0.0793, B/BP = -0.1870). This rejection technically calls for a re-testing of the 95.80 1D Support. However the 1W Channel Up (RSI = 54.944, MACD = 0.450, Highs/Lows = 0.0042) has its technical Higher Low earlier within 96.00 - 96.20 so it may rebound there. Our TP will be 97.50 upon the rebound. On a sidenote, it is obvious that the 1W Resistance (97.70) has been rejecting every upside break out attempt since November 2018. The 1W Channel Up runs the risk of breaking the Channel (at best sideways) if the 1W Resistance doesn't break on the next test. If it doesn't break, the probability of a bearish break-out towards 95.00 will be greater and then we will need to discuss the high probability of a long term trend change. Updates will follow. Take a look at our previous analysis, which took advantage of the 95.80 low: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXY
by InvestingScope
Dollar Index: Long opportunity on 1D and 1W.DXY is currently on a Higher Low mark within the 1D Channel Up (RSI = 46.563, ADX = 18.030, MACD = 0.030, Highs/Lows = -0.1686). A rebound is expected from the current level but if that fails, the 1W Channel Up (RSI = 52.527, MACD = 0.430, Highs/Lows = 0.0000) will provide the last support level at 95.80. On a long term basis the Dollar Index remains a buy opportunity and our TP is 98.00 with 98.00 as the extension. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXYLong
by InvestingScope
Dollar Index: Attention. It may break below the bullish Channel.This is a 4 year illustration of DXY's trading behavior. The chart is quite descriptive itself and since the scale is very long term it is not intended to be a trading suggestion. It is more to give an alternative idea to the Dollar's volatile patterns lately. There is a certain sequence which shows that the index may break the 1W Channel Up downwards. The Lower High made three weeks ago is a first sign of bearish reversal. We are just calling for attention. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXY
by InvestingScope
Dollar Index: Double Long opportunity. Still bullish.DXY continues to trade on the 1W Channel Up started on May 2018. With 1W technicals mostly neutral (RSI = 53.089, ADX = 18.480, Highs/Lows = 0.0000, STOCH = 48.384) the pattern is indicating that we are on possible rebound levels. As seen on the chart the price is on the inner supporting line of the Channel (A). Technically the maximum downside is on the outer layer (B). That is a double long entry opportunity, TP = 98.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DXYLong
by InvestingScope
2
Dollar Index. Possible wave count. Don't be fooled DXY could be in the last wave of the corrective structure before another big drop. Current position is wave 4 of c of C of (4). Short term weakness shouldn't fool you and I expect wave 5 to come and lift the index higher at least to the 91.50 where wave c=a, after that we should be cautious as another big drop would come It is quite useful to analyse alter-egos (mirror) eurusd/dxy as you can find clues in one instrument, which is not obvious in the other. I supposed quitting eurusd (see related) as I found the clue in the dollar index.
TVC:DXY
by aibek