Short Term Elliott Wave View on Dollar Index ( TVC:DXY ) suggests that the rally from 4.14.2023 low is in progress as a zigzag structure. Up from 4.14.2023 low, wave ((a)) ended at 102.23 and pullback in wave ((b)) ended at 101.02. The 1 hour chart below shows the starting point of wave ((b)). Index is now extending higher in wave ((c)) with internal subdivision...
The advance in the U.S. Dollar Index from the early 2021 low remains very much intact. The monthly chart has an unmet target of 120-plus, so this for now is where I think the USDX is likely to go as long as the parabolic curve is not violated.
The dollar index has flashed a buy signal in the daily and weekly timeframes here, I've bot some exposure to it via long calls in $UUP expiring by late September. The weekly Time@Mode trend signal forecast implies a substantial move lasting 6 weeks from here onwards. Downside risk is small, the signal suggests a 3.65 times reward to risk ratio, if the target is...
The Dollar offers a nice reward to risk entry as a continuation trade here. I'm long via FX pairs and a Dollar Index position. Eventually, it might take coordinated intervention to stop this advance, fundamentals are firmly in place for a continued trend in the Dollar against foreign currencies, given the limitations to affect the energy market and of monetary...
If the USDX can clear 106 the chart indicates a strong trend toward 119 to 120 is possible
The US Dollar Index has been stuck in a rut. Since mid-May it has moved mainly sideways. Bouncing back and forth in consolidation, like it is bouncing off of the walls of a jail cell. The top of the consolidation is at the November high, a spot it just can’t seem to get over. But the chart below suggests there may be a jailbreak soon. There are several thing to...