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DXY

xauusd analysis for mondayTechnical Analysis Key Levels: Support: Primary Support: $2,630–$2,640, a crucial level that has consistently held over the past weeks. Secondary Support: A breakdown below $2,630 could lead to further declines toward $2,600 and $2,570 Resistance: Primary Resistance: $2,670–$2,700, a zone gold must clear to confirm bullish momentum. Extended Target: A sustained move above $2,700 could push gold toward $2,720 or higher, with the long-term target near $2,750 Price Action: Gold has been consolidating around $2,650, indicating indecision in the market. Traders are awaiting a catalyst for a breakout in either direction Indicators: RSI: Neutral, indicating no overbought or oversold conditions. Moving Averages: Gold is trading near its 50-day moving average, reflecting a balance between buyers and sellers. Elliott Wave Analysis: Suggests the current correction phase might end soon, potentially paving the way for an upward movement Fundamental Analysis Key Drivers: 1. Federal Reserve Meeting: A dovish stance or pause in rate hikes could weaken the USD, benefiting gold. Conversely, a hawkish surprise could pressure prices. 2. US Economic Data: Housing Data: Strong numbers may support the USD, weighing on gold. GDP Report: A weaker-than-expected reading could bolster gold's safe-haven appeal, while strong data might strengthen the dollar 3. Global Economic Factors: Geopolitical Risks: Persistent uncertainties may sustain demand for gold as a safe-haven asset. Inflation: Gold's role as an inflation hedge keeps it relevant amid ongoing inflationary pressures globally 4. Seasonal Trends: December traditionally sees increased gold demand, linked to year-end portfolio adjustments and festive purchases. Trading Scenarios Bullish Scenario: Entry: Above $2,660 Targets: $2,700, $2,720, and potentially $2,750 Stop-Loss: Below $2,630 Strategy: Look for a confirmed breakout above resistance or positive market sentiment boosting gold. Bearish Scenario: Entry: Below $2,630 Targets: $2,600 and $2,570 Stop-Loss: Above $2,660 Strategy: Watch for rejection at $2,650 or stronger-than-expected US data supporting the USD.
OANDA:XAUUSD
by realmillionairefx
DXY Best level for a long-term short.The U.S. Dollar index (DXY) has been trading within a 1.5 year Channel Up pattern (since July 14 2023) and just 2 weeks ago it formed a Golden Cross on the 1D time-frame. Having hit the pattern's top a week earlier, the current rebound seems to technically be part of the Lower Highs/ Lower Lows top formation, similar to October 03 - November 01 2023 peak. That was 1 year again, a peak formation that was also formed after a 1D Golden Cross. This indicates that the long-term pattern (Channel Up) is highly symmetrical and as the 1W RSI is also declining after a rejection on the 70.00 overbought barrier, we consider the current level the best possible short entry. The Bearish Leg that followed the 2023 High extended as low as the 0.786 Fibonacci level. As a result, we expect to see at least 102.000 (just above the 0.786 Fib) before any signs of a rebound. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DXYShort
by TradingShot
2
GOLD → False breakout and negative fundamental backgroundFX:XAUUSD is correcting after a false breakout of resistance. This is also supported by negative fundamentals. Will there be a pullback or will the decline continue? Optimism over China's economic stimulus is waning amid growing fears of a trade war between the US and China. Expectations of a hawkish Fed interest rate next week helped boost the US dollar, leading to a corrective decline in the gold price.Markets now believe the Fed may send a hawkish signal by signaling a pause in January after PPI came in higher than expected Technically gold is still inside the channel, consolidation continues. Focus on 2658-2660 support, below which there is a huge pool of liquidity that may not let the price down on the first try Resistance levels: 2675, 2682, 2699 Support levels: 2658, 2636 From the support 2658 may form a correction from which will depend on the further development of events: if the correction will be small and the price will quickly return to 2658, it will increase the chances of support breakout and further fall, for example, to 2636. But, if gold can consolidate above 2682 and consolidate above the local high, the price may head for a retest of the high Regards R. Linda!
FX:XAUUSDShort
by RLinda
1
USDCHF → Breakout of wedge resistance. CPI aheadFX:USDCHF is showing positive signs of willingness to continue the uptrend. The dollar is consolidating in the meantime in anticipation of CPI, which creates risks for us The currency pair is testing the support at 0.877 as part of the correction. A false breakdown and a reversal pattern is formed, which indicates the end of the correction. The price updates the local lows, and on the 4-hour timeframe it enters the realization phase after breaking the wedge resistance. The focus is on 0.882 - 0.8848. If the bulls keep the defense above this zone even after the news, the growth of the currency pair will continue in the future, as the key liquidity zones are still untested Resistance levels: 0.8848, 0.8887 Support levels: 0.882, 0.880 CPI is ahead and traders are not yet ready to take active action prematurely. The report may form a medium-term potential. A break of 0.8848 will be the trigger for continued upside. But, the structure will be broken if the market breaks 0.876 Regards R. Linda!
Long
by RLinda
2
EURUSD → False breakout of resistance. DowntrendFX:EURUSD is testing resistance in the downtrend phase. The maneuver ends with a false breakout of resistance at 1.0607 On the daily timeframe the price is squeezed between the strong resistance at 1.06011 and the local support at 1.05. So, if the bears keep the defense below the key resistance, the currency pair will continue to fall in the short term. The target in this case may be the area of 1.05 - 1.044. But, technically, the retest of 1.0607 may provoke a local breakout of the level and the price movement to the channel resistance against which there will also be a high probability of formation of a false breakout. Resistance levels: 1.0607, 1.965, 1.076 Support levels: 1.0448, 1.0331 Emphasis on resistance. Confirmation of the nearest resistance in the form of price consolidation below the level, if retested, could be a good entry zone. But if resistance is broken, the focus will shift to 1.065 - 1.067 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
1
GOLD → False breakout of resistance. Is a correction coming?FX:XAUUSD on the background of CPI on Thursday passes into a rally and realization of consolidation. The price is testing the resistance of 2721 and forms a false breakout. Traders in anticipation of PPI After the release of CPI, there is a 90% chance that the Fed will cut rates by 0.25% next week. Gold hit a two-week high due to the Middle East, optimism over China's economic stimulus, CPI news. PPI and weekly jobless claims data also remain in focus, which could provide new hints on further Fed policy easing and the direction of the US dollar ahead of next week's Fed meeting. Sentiment around the Fed and risk trends will continue to play a decisive role in gold price dynamics. Technically, the price is in a global wide flat. A false breakdown of resistance is forming and a correction may form. Resistance levels: 2721 Support levels: 2700, 2682 The retest did not allow the bulls to pass through the resistance. In the near future the price may test the nearest support and form a bullish correction from which further growth or fall will be initiated. We should also take into account today's news Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
DXY- Will it continue up into year's end?December is usually a bearish month for the USD. However, this time, the situation could be different. The USD seems well-supported by fundamentals, and the technicals are looking bullish. Looking at the 4-hour chart, we can see that after the local high at 108, the index started to fall and broke below the support from the April-May highs (old resistance). However, after hitting a low at the 105.50 zone, the USD Index reversed, breaking above the falling trendline of the corrective falling wedge and also reclaiming the 106.40 resistance. At this moment, there is a high chance of upward continuation, and as long as the 106–106.40 zone remains intact, the outlook remains valid.
TVC:DXYLong
by Mihai_Iacob
Sell EUR/USD Channel BrekoutThe EUR/USD/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.0482 2nd Support – 1.0445 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
32
U.S. Dollar Index (DXY weekly time frame analysisAs of the weekly time TVC:DXY frame, the U.S. Dollar Index (DXY) is trading around 106.59, which places it in an important Fibonacci retracement zone. Here’s an analysis of its current position: Current Position on the Weekly Chart (DXY at 106.59): 1. Fibonacci Levels: 50% Fibonacci Retracement: The current level at 106.59 is near the 50% Fibonacci retracement level of the previous downtrend from 114.00 (2022 high) to 100.00 (2023 low). This retracement level is crucial as it often serves as a turning point. The 50% level is typically seen as a major resistance or support level. 61.8% Fibonacci Retracement: The next key level above 106.59 is 107.50, which corresponds to the 61.8% Fibonacci retracement. If DXY breaks through 107.50, it could signal a continuation toward the next key resistance near 108.50. 2. Support Levels: If DXY fails to hold 106.00–106.50, the next potential support levels would be at 104.50, which corresponds to the 38.2% retracement of the broader move. Outlook: Bullish Scenario: If DXY stays above 106.50 and moves toward 107.50 or breaks it, this would suggest a continuation of the upward trend, potentially targeting 108.50 or higher. Bearish Scenario: A drop below 106.00 could signal weakness, with the next significant support at 104.50. The DXY’s behavior around these Fibonacci levels will likely be key in determining the next short- to medium-term direction for the dollar. Watching the upcoming U.S. economic data releases will be essential for confirming these technical signals.
TVC:DXY
by TRADE_CENTER_1
DXY Will Go Down From Resistance! Short! Please, check our technical outlook for DXY. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 106.563. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 105.718 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
1
The US Dollar Index (DXY) is currently trading around 106.70. The US Dollar Index (DXY) is currently trading around 106.70. On the 4-hour chart, DXY is testing a resistance TVC:DXY zone near 107.00–107.13, which aligns with the 61.8% Fibonacci retracement of a prior move. If this level is breached, the next target could be 107.50 or higher, signaling a continuation of the uptrend. However, failure to break above this resistance could result in a pullback, with support seen at 106.10, followed by the 105.63–105.78 range. In summary, DXY is at a critical juncture. A breakout above its resistance would likely fuel further bullish momentum, while a rejection may see it revert to lower support levels.
TVC:DXYShort
by TRADE_CENTER_1
Gold Analysis Today DECEMBER 12, 2024 Strong Growth or Collapse?SPDR Gold Trust Gold Fund bought 2.59 tons of gold yesterday, December 11 Important resistance: 2733 - 2740 - 2750 Important support level: 2680 - 2675 - 2700 XAUUSD OANDA:XAUUSD trading strategy around price area: BUY XAUUSD around 2700-2701 Stoploss: 2695 Take Profit 1 : 2710 Take Profit 2: 2720 Take Profit 3: 2730 “If there is a break through the 2728 area during the day, we should watch to sell around the 2749-2750 area in a long-term channel.” SELL XAUUSD around 2749-2750 Stoploss: 2756 Take Profit 1 : 2745 Take Profit 2: 2740 Take Profit 3: 2733 Note: Always install Stoploss in all cases to be safe!
OANDA:XAUUSD
by Henrybillion