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USD technicals damaged Looking at the USD futures, and interesting picture is starting to prevail... The weekly chart is heading to a lower USD in the next couple of weeks. and to resume uptrend, it needs to reclaim above the green resistance line, which is unlikely at current status. RPM and MACD are burnt out and crossed down to a moderation in the coming weeks. The daily chart accentuate that view as the FOMC rate raise of 75bp yesterday closed the day with a bearish daily candle and a lower low clocked today... so downside to the support over the next couple of weeks is likely. Technical indicators are all bearish crossed down too. This has big picture effects... on equities, and commodities, which will be pushing up again, stoking more inflation. This is a major consideration in all my analyses going forward. Much discussions going on everywhere about the economics of it, but the charts seems to reflect that the expectation is where the FOMC is done with raising rates for now... at least. Watch what happens when the support level is met...
ICEUS:DX1!
by Auguraltrader
Strong Dollar makes is tough on other marketsUS Dollar – Weekly continuous: Surpassed the Primary recover target at 102.25 and making highs not seen for 20 years. My opinion. Cash commodities can struggle to keep upward momentum when US Dollar is strong. The world is experiencing a financial crisis it has not seen for several decades. The 07/08 recession Primarily hit the US with the Housing market bust and Dollars fled the US to other stronger currencies/assets. US Ag commodities were very volatile in the period but mostly strong with a weak dollar. If EU and Asian markets remain weak, safe haven assets like the Dollar could remain elevated to extremely high…Yet to be determined. Open interest is/has been low in the commodity space, and we recently witnessed what a liquidity drain out of our markets from the big money can do. Major swings up and down to be expected in the nearby future.
ICEUS:DX1!
by mtb1980
DX1! - Dollar Index looks creepyOK, that's creepy to me. On this long term chart we see that price respects the Pitchfork very nicely. But that's not creepy, that's what I see day in and out. But here it comes: IF this is a monster Bull Flag we see in the grey shaded area, the USD will explode to the upside in the comming months. That means, that with the higher and higher inflation in the US, daily goods become even more expensive, and at the same time, exporting becomes harder and harder. Now, to stay competitive to the world with exports, the governments usually intervene by manipulating the currency down. BUT now we face a huge problem: The FED has printetd money endlessly...billions and billions, and that caused the mess, the inflation. Yes, it's not the Virus, it's the "Cocain" for the gamblers that was printed. So, what would be necessery to manipulate the USD down? Printing money? But, they should STOP printing money so that the inflation can be tamed. Oh..ough..I think someone is trapped very, very bad. I have no clue how this kneel could be unwinded without kinda reset, or the hard but efficient way of Paul Volker. It would be equivalent to the very, very bad headache after the furiousest party ever celebrated. (borrowed from Maverick Of Wallstreet on YT). Oh, yes, you're right: The wealthiest got the party, the headache is for the crowd. 1.20 is the mark so far. Cheers...
ICEUS:DX1!Long
by Tr8dingN3rd
US Dollar Breaks 5-Year High!In last week’s post, I highlighted that the US Dollar was being held at a major resistance level and was preventing price from climbing any higher. So far this week, price has broken through. Closing prices are more critical than intraday movement, so although price is above resistance, it does not mean it will stay above it at the end of the business day. This resistance has held strong for over five years, so it will take a lot of momentum from the buyers to keep price above resistance at $103. The resistance level is actually the high of a large area of consolidation, with the support low at $90. Following a breakout of the high, we need to see a pattern of higher highs to confirm that a trend is forming. This will reduce the likelihood of price returning into the consolidation zone. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!Long
by Sublime_Trading
DXY The 1 year Pitchfork approach points to a correctionA popular yet often overlooked technical took is the Pitchfork. On this analysis I have applied it on the U.S. Dollar Index (DXY) on the 1D time-frame. The dotted line is the median, with the dashed being the 0.5 Fib and the black straight being the 0.75 Fib. As you see the latter two are used as Support (on the lower) and Resistance (on the upper) levels respectively. Right now the price got rejected on the upper 0.75 Resistance Fib. Last time, on March 07, that caused a pull-back and 1 month consolidation. Basically the whole price action since December 2021, resembles the sequence of July - November 2021. Even the RSI fractals are similar. If we continue to repeat this, then the index is bound for a correction back to the lower Support 0.75 Fib. Short-term Support on the 1D MA50 (blue trend-line). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:DXYShort
by TradingShot
5
dxy 3-6 update.dxy is currently backtesting a decade old trendline, if we get above it, this is bullish for dxy - bearish for the global markets. this is my updated projection on dxy as of this moment. i do expect a downturn into a sub-wave 2 of the primary fifth wave to take place sometime soon. once that wave 2 is completed, there will be some real pain in the markets. if you think things are pretty bad right now, i'm sorry to say - it can get a whole lot worse. prepare for it, use stops, and expect the unexpected. ✌
TVC:DXY
by notoriousbids
dxy 3-3- update ~good afternoon, quick update to my previous dxy post via: the us dollar is finally up here at my target. might expand just a hint higher to my 123.60% extension (market burgundy on the chart). if it does indeed expand, expect a tad bit more pain in the markets. if it rejects the 100% extension, relief will come quickly as many assets across the board will begin to appreciate very quickly. --- regardless if it goes a tad higher, or if it's done - i think this will mark the end of a very painful phase for some, and should in theory push things like spy and btc up fairly quickly. expect it if you are a bear, take advantage of it if you're a bull. ✌
TVC:DXYShort
by notoriousbids
2
dxy 2-22 update ~morning, it was last february when i called out the rise of the us dollar, and it has been moving up ever since. my initial upside target back then was at about $99. you can view that idea over here: ---- we moved up in what looks to me, like a leading diagonal. >a leading diagonal can be counted in only two ways, >wave (A) >wave (1). we won't know for sure which one it is, until wave 2\b plays out \ we see the kind of momentum it has on the way back up. ---- ps. I will say this though, if this plays out as a larger 5 wave impulse - it will be cataclysmic for the global markets. ✌
TVC:DXY
by notoriousbids
2
The Deep Diving Dolla.i recently talked about this 10 year trendline on dxy, and its importance in the global markets. as of right now, both the usa and crypto markets are lining up for a major move to the upside - which leads me to the conclusion that dxy is going to be a leading catalyst for this. i'm not a fundamental person, in fact i don't know anything about any of that stuff - just a man of the charts. back in february i talked about a move up to 99 on dxy just based off chart formation, but it simply didn't have the momentum to reach my level - which is good for the bull case of our markets. view that post via 👇 --- i'm projecting a move down to about 86 by end of year on dxy - this should give all asset classes the boost they need for that final blow-off top mania phase that'll break the markets for many more years to come once it is completed. best of luck! 2022 spy projection 👇 2022 iwm projection👇 2022 bitcoin projection 👇
ICEUS:DX1!Short
by notoriousbids
2
a red flag for the markets.dxy is flashing a daily algorithmic buy signal tonight for the first time since september 3rd. the last time it flashed, dxy went from a low of 92 to a high of 96, which caused pain across all of our markets. if there is anything that could break a bullish setup, it is the us dollar. be cautious out there o/ ps. this algo buy doesn't have to mean anything - it could in theory just keep falling if the worldly conditions permit for further downside.
TVC:DXY
by notoriousbids
7