Dx1
Dollar Index Bullish BreakoutThe USD Index DX1! had a bullish breakout from near the end of a wedge.
This is a legit buy signal and appears to be a larger trend change, a after bullish divergence (on the MACD), with very big consequences... as it all leads towards the US Elections.
System Buy Signal generated, MACD supportive and crossed up into the bullish territory.
Be aware and beware!
Expecting a bullish correction on Dollar Index DXYExpecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely correlated.
Dollar Index forecast and prediction
Long positions will be possible on the way up to weekly supply imbalance located around 97 price level for those forex traders trading short-term and intraday forex trading strategies. There is a lot of room for the Dollar Index to keep on rallying. There is nothing to prevent the Dollar Index from the bullish correction if it continues to make higher highs.
Dollar potential entries. ExplainedWe discussed bullish fundamental setup, but still no entry. There is a clear trendline on a daily chart. Breaking above is an entry. The most conservative traders can wait till DXY breaks and hold above 7 days high. It has been a long time since the dollar did that. So, breaking and holding above is sign bulls have got the strength to reverse a trend. The most aggressive traders can enter once and if higher low will be formed before breaking the trendline. But this trade is too risky for me. This market has a good fundamental setup and you can use any entry technique to pick up a trade.
Dollar Index: Sideways opportunity on 4H.DXY has successfully tested the 92.50 Support today twice. If it holds then on the 4H chart (RSI = 39.680, MACD = -0.240, ADX = 46.240) then that is a solid sideways opportunity within the Support and the 94.00 Resistance (which has also been tested twice (red arrows). As you see the MACD pattern is quite similar with that of the June consolidation.
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DOLLAR INDEX (DXY) DAILY ROADMAPDollar Index daily analysis based on global combination of pitchforks and Fibonacci expansions.
Uptrend Confirmed .
ENTRY: 97.51
TP1: 99.23
TP2: 100.96
SL: 96.74
RUT Short Position Update: Thu Jun 18, 2020RUT Short Position Update: Thu Jun 18, 2020
13:31:57 (UTC)
Thu Jun 18, 2020
Dollar Index (DXY): current map - possible ending diagonalThe dollar index could be in the ending diagonal wave (C). Then the drop is expected
ENTRY - 2 WEEKS ONLY TO ANALYSE DX1! - US DOLLAR - DAILYThank you for your likes! Please share to benefit our community! Very appreciated!
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Historical trend tell us that at the moment the DX1! US DOLLAR INDEX FUTURE is evolving above his past long range and might return to it from next month.
The probability is increased when we see that there is a pressurized triangle shape with a strong resistance and an uptrend support which can be broken because of its angle.
Keep in mind that the market has top and bottom pic s which are still strongly in the memory of the investors.
What to do ?
- 2 weeks to analyse the market
- Prepare to enter in 2 weeks or 3 ready to make profits.
Probability:
- Higher probability to observe a market reversal trend
- Market have still chances to break the resistance line. If this case happen, wait for the uptrend to vanish to enter short. Short entry stays still more interesting.
DOLLAR INDEX Buy SignalPattern: Rectangle on 1D.
Signal: Bullish as a candle of such strength has led to a new (Lower High) within the Rectangle on all 3 previous occasions.
Target: 100.80 (Lower High on the dashed line).
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Bullish on the US Dollar FutureWe can see that there is a clear range illustrated by the market . The top and bottom blue lines are the new support and resistance.
We have two clear reasons to see that the possibilities for the market going bullish increasing significantly :
-The formation of the candlesticks on the support line, taping the line to rebound .
-Combined with the strong volume bigger than all of the other ones before.
Go bullish for the moment, we are in the middle of the range. Take decision after new analysis when the resistance is reached.
Possibilities:
-Pullback down again (Stay in the range)
-Strong break but return into the same range (To get rid of all buyers)
-Strong break with volumes and the formation of the right candle stick afterwards for a new long entry.
- Beware of the support line which still stays another possibility if it keeps ranging
Timing:
- If already in the market in the long direction exit at the top blue line or the next red candlestick.
- Strong probability to see the top level reached: beginning of next week.
EURUSD to tag the former low at 1.0636EURUSD goes in line with my expectations posted in the map earlier (pls see related).
It reached the upside target on Friday and then collapsed.
All minimum targets have been hit, so it can start now wave (y) down to complete huge wave X.
The wave (y) = wave (w) hits right in the area of the former low at 1.0636.
This will be the target.
Wait the pullback and see if it will not exceed the recent top before thinking of short.
U.S. Dollar Risk Range Long Bias - 13:06:19 (UTC) Tue Apr 7, 202
Previous Close: 100.75
Upward Bound: 101.77
Lower Bound: 80.07
El comportamiento del Indice del DolarRebote importante de un area de soporte y de vuelta al canal alciste con leve pendiente al alza
DXY: Sell Target hit. Buy now opportunity on the 0.618 Fib.DXY is on a sharp sell off following the 99.90 High on February 20th. The 1D chart is on a strong bearish territory (RSI = 37.767, ADX = 49.169, Highs/Lows = -1.0001) and just hit the 0.618 Fibonacci retracement level from the 96.35 December 31st Low.
We believe this level is at or close to the current bottom of this downtrend, on a similar sequence as 0.618 correction last October. Our Target Zone is 98.55 - 98.80.
Our previous Sell Call:
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Dollar Index DXY: Pull back due but long term bull trend intactDXY has been trading inside a very strong 1D uptrend (RSI = 71.713, MACD = 0.440, ADX = 48.457, Highs/Lows = 0.4165) since the December 2019 bottom, almost turning overbought. The dominant trend on the long term (1W, 1M chart) is still bullish as the Dollar Index has been within a Channel Up since May 2018.
However the price is now close to a symmetrical Higher High and Resistance zone which in July maxed at +3.20%. If the same patterns is repeated then expect a short/ medium term pull back towards the 1D MA200/50. Our Target Zone is 98.20 - 97.70.
Previous successful trade on DXY:
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Dollar Index: Downtrend broken. Aiming at the $99 region.DXY has been on a strong downtrend since the early September top. Last week this downtrend broke to the upside and with the 1D chart turning bullish again (RSI = 62.141, MACD = 0.060, ADX = 22.482, Highs/Lows = 0.3161) we are expecting a new bullish leg towards the 99.10 - 00.60 Zone.
However there are two dark spots we need to point out:
- The first is the 1D Death Cross that took place on December 25th. That is the first such occurrence since May 2017 and is typically a bearish signal.
- The second is the breaking of the Higher Low trend line of the multi-month Channel Up that has been holding since June 2018. Even though it was marginal and the price quickly recovered back into the Channel, it still is something to keep an eye on and quite probably where the stops of buy positions should be set.
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Dollar Index: Buy opportunity near the Higher Low.DXY dropped again below the 1D MA200 (RSI = 40.089, MACD = -0.130, Highs/Lows = -0.2864, ADX = 25.789) approaching once more the Higher Low trend line of the 1M Channel Up that has been trading within for over a year.
The pattern resembles the early 2019 sequence and as you see on the chart this could be the 7th phase that will initiate the uptrend. Two targets can be taken on this, 98.30 and 99.25.
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Dollar Index: Short and medium term Buy Opportunity.The Dollar Index made a bottom (Higher Low within the 1M Channel Up) at the start of the month (double bottom in fact) on 97.10 and has had a steady rebound since. We are seeing a lot of patterns being repeated within this long term (+1.5 years) 1M Channel Up (RSI = 56.888, MACD = 0.590, Highs/Lows = 0.1904, ADX = 35.134).
The one that stands out now on the 1D chart (and is the one leading our positioning on DXY) is the rebound on the 1D MA200 following the bottom (Higher Low), that has led in the past to a new Higher High. The 1D RSI sequences are also similar, thus we are expecting a strong rise within the coming 2 months. Our short term Target is 99.25 and the medium term 100.30.
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