DXY (USD INDEX) MONTHLY SHORTI think we have finished ABC correction and are now in the last part of the X wave.
after this X wave, I predict that the USD index will fall to the areas shown.
furthermore, we are in the upper area of channel down.
Also, I have provided Fibonacci retracement of the ABC wave and now we are in the middle of that wave (50%). In addition, Fibonacci projections of X wave have made a resistance area shown in red!
conclusion:
I believe USD have very bad days in front of its currency and we may hear bad news about the united states in the months coming.
wish the best for all people of the world.
God bless us
Dxy_short
DXY Downlink formationDXY Downlink formation
Tipping point with down channel seduction
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110 is a huge resistance for DXY. It could drop towards 96110 is a big resistance for DXY. It could slide to 96. The dollar is in a perfect upward trend, backed by souring war sentiments and inflation fears. Now there are looming recession fears, which could stop the Federal Reserve from hiking rates aggressively. The European Central Bank has said it is open to increasing interest rates. EURUSD buyers will get some support due to this.
Did the Dollar Index Just Top?This is a chart of the U.S. dollar currency index with Fibonacci Retracement levels applied.
These Fibonacci levels take the entire history of the dollar index into account as they were drawn from the all-time high in 1985 to the all-time low in 2008.
On the bottom is the monthly RSI. It is extremely rare for an asset to create bearish divergence on a timeframe as high as the monthly chart, as the dollar index just did at the close of June!
Specifically, the dollar index closed June with a higher price than it closed in April but with a lower RSI. When price continues to move higher but the RSI moves lower this is a bearish divergence, and it usually indicates a reversal especially when the divergence occurs at overbought RSI levels. Bearish divergences have similarly been occurring on the weekly timeframes for the dollar index. These divergences are used by experienced traders as sell signals.
Neither the commodity charts nor the Eurodollar Futures are confirming the dollar index's continued move higher.
With the economy slowing rapidly, there's little reason to believe that the Fed will become any MORE aggressive than it already is. If the Fed will not get any more aggressive than is already priced in, the dollar index should not go any higher.
While anything can happen, now that the dollar index has even reached a Fibonacci level, it seems quite likely that a major top is underway.
Jamie Gun2Head idea: Selling DXYTrade Idea: Selling DXY
Reasoning: At key long term resistance, looking for a temporary move down
Entry Level: 105.54
Take Profit Level: 104.66
Stop Loss: 105.860
Risk/Reward: 2.751
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ICT ATM METHOD DXY!!!!!!!ICT ATM METHOD!!! short term high ran and rejection giving you the confirmation of the short, well look for this to reject inside the ob 104.900 and take out the local lows liquidity 103.400.
Price reaches the low ob+fvg 102.650 prior to running the sell side liquidity well monitor this for a potential area where we see a rejection (pray this doesn't happen) and if so well look to take profit and cut our positions.
HOLY GRAIL if price seeks the sell side liquidity 101.300 then we can really set our selves up for some relief.
WE STAY CALM AND COLLECTED, LET THE MARKET COME TO YOU AND EXECUTE LIKE A BOSS!!
DOLLAR INDEX | MONTHLY ANALYSIS#DXY has hit the strong resistance of 103 where a strong rejection candle is in formation.
For above 103, the bullish parallel channel will be active, and the upside target of 115 will be insight. But this 103 level has not crossed since 2002.
For below 103, a correction is due till 99 or maybe more than that.
On a daily timeframe, there is bearish divergence and 99 is insight.
Let us know what do you think of the idea?
DXY(USD INDEX) SHORTS SHORT TERM 📉📉📉Expecting bearish price action on DXY on a short-term basis as pprice rejected a bearish orderblock on the H1, and shifted the market strucutre on the H1 from bullish into bearish.
From a medium-long term perspective i am still bullish on the DXY.
What do you think ? Comment below.
DXY- Correction round the corner?I'm bullish USD for quite some time and my 103-104 zone target was just hit.
Although I will remain bullish in the long term, at this moment I believe a correction will follow.
Looking at the monthly posted chart we can see that DXY is trading in a very strong resistance zone, market by 2017 and 2020 highs.
That being said, a drop to 100 is very probable for the index.
#DXY is giving us a hint for the upcoming move in the market.I'll keep it short and simple.
Overextended rally in DXY adding up to bearish divergence in RSI and similar fractals are indicating a rejection at the current level.
Rising wedge channels are normally bearish in nature. A reversal candle will trigger the move and eventually, the traditional market will move along with Crypto Market.
The index must close below the red MA for the final confirmation.
Although we are at a decisive point, the patterns are indicating a potential bearish move.
Invalidation:- Break and close above the upper resistance trendline will invalidate the chart.
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DXY SHORTS ACTIVE 📉📉📉Expecting bearish price action on DXY on a short-term perspective as price should fill the huge bullish imbalance that was formed on friday due fundamental reasons, there is also a possibility that price will take out weekly highs liquidity and then quickly reverse to the downside.
This perspective is only on a LTF basis, from a HTF perspective DXY is very bullish.
What do you think ? Comment below..