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Dxyanalysis

A counter trend bounce for DXY first and then the fall.In my previous update on DXY, I had expressed that wave 'z' had truncated on Nov 1. and that should mean the beginning of the fall for DXY. Well from the truncated 'z' top the DXY has now fallen in a 5-wave pattern(Elliot wave theory). While this in longer term suggests more downside for the dollar index(93$ according to me), in the short term one must remember that a five-wave fall/rise is always followed by a corrective move. So, in this case the DXY should attempt to move a bit higher from current levels in what would be a counter trend move that could abruptly end close to the previous 4th wave high(104.557)(typical price behavior according to Elliot wave theory) or go up further till the 61.8% retracement(105.588) of the fall. Both these scenarios are labeled as Case 'A' and Case 'B' respectively on the chart. Upon completing the either one of these scenarios wave iii to the downside will begin in DXY. Note*- This chart is for educational purpose only. Please do your own research/analysis before taking up any financial positions.
TVC:DXYShort
by neeraj_2_sharma
DXY (Dollar index) Longs to 104.000My bias for the dollar is bullish, as I am expecting a major pull back from this key level of demand that we have marked out on the daily time frame. As you can tell by the price action, bearish pressure is now getting exhausted so, we will be looking out for a wyckoff accumulation on the lower time frame to give us more confluence that this move will take place. As I don't personally trade the dollar, I will be using as it a sign to sell my other pairs. As we know already if the dollar becomes bullish we will expect bearish pressure for pairs like GU, EU and gold, visa versa. In addition to this, the daily demand holds a lot of significance as it has broken structure to the upside and swept liquidity therefore, we can expect a nice reaction from this AOI to potentially mitigate the supply above or fill the imbalances that have been left. My confluences for DXY$ Longs are as follows: - Overall DXY market is still long term bullish even though we temporarily bearish. - Price mitigated a strong level of demand on the (daily Time frame) that caused a BOS to the upside. - Price tapped in very slowly and the candle sticks have less volume, indicating that the bearish pressure is now exhausted and price is now looking like it wants to reverse. - Wyckoff accumulation has started to form very gradually on the lower timeframe. - Theres lots of imbalances above to target as well as supply zones to mitigate in order for price to continue in its bearish trend. - Price has also taken out a key level of engineering liquidity on the way down approaching the zone, so now price has enough liquidity to move the market back up. P.S. I am still bearish but as price has tapped in a key level, my thoughts are to buy back up to the nearest supply in order for us to follow the dollar trend downwards. I will be waiting on what market does on Monday as I will be looking for imminent Sells for EU, GU and XAUUSD.
CAPITALCOM:DXYLong
by Hassan_fx
1
DXY Preparing for Another Leg Down! Grab This Next Short Entry!DXY confirmed its breakout from the bull channel to the downside and is currently showing some minor support at the 200EMA. I would expect the price gap from here to the 9EMA at 105.000 to close followed by another leg down. We have to be careful to not get caught in a 2 legged trap, which is also a possible outcome at this level. How do we trade this? Wait for a sell signal at the 9EMA with a strong bear bar closing on or near its low before entering a short. Key Points 1. 200EMA Showing Some Support 2. Two Pushes down, Third Probable 3. Gap to fill to the 9EMA around 105.000. 4. Look for another Short entry at 105.000 with a sell signal You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
TVC:DXYShort
by TraderEngineering
Another drop to 104.00 remains in storeTVC:DXY manages to pick up extra pace and extends further the bounce off multi-week lows around 104.00 on Thursday. In case bears regain the upper hand, the breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 prior to the weekly low of 102.96 (August 30). In the meantime, while above the key 200-day SMA, the outlook for the index is expected to remain constructive.
TVC:DXYShort
by tradingconmike
DXY → Extra losses look likely below 104.00TVC:DXY attempts a mild recovery to the 104.30/40 band after bottoming out just below the 104.00 support earlier in the session on Wednesday. The breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.60 prior to the weekly low of 102.96 (August 30). In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.
TVC:DXYShort
by tradingconmike
After inflation, the US dollar will increase sharply next weekThe US dollar was barely changed in early European trading on Tuesday ahead of the latest inflation data that could determine the direction of US monetary policy, while sterling rose as investors British workers continue to benefit from healthy wage increases. At 3:10 a.m. ET (08:10 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading virtually unchanged at 105.516. Trading was largely confined to a narrow range on Tuesday as traders cautiously awaited the release of the US consumer price index at the end of the October session, a number likely to boost sentiment. believe. Book}} meeting. Analysts expect annual revenue growth to rise 3.3% year-over-year, down from 3.7% in September, while also expecting a 0.1% increase over the month, lower than the 0.4% increase observed last month. Some Fed officials, including Chairman Jerome Powell, have warned that persistent inflation could cause the central bank's interest rates to rise further and any signs that prices are harder to come by than expected ​are all likely to sharply increase bets on rising interest rates. US central bank. Higher interest rates - a scenario that bodes well for the dollar.
TVC:DXYLong
by AstronautPioneer
EURUSD LongEURUSD had great week showing intention to look for higher prices Price most likely to hit 38% fibo and retrace before pushing higher Overall sentiment of the market is very bull for EURUSD : 1- Weekly Overview - Huge positive candle on the weekly close 2- DXY broke support and is looking bearish. The structure breakout projection is point DXY to drop to mid 38%-50% fibo .. plenty of room for EURUSD to grow and to break reverse to bull 3- Main USD pairs - All looking bad for USD therefore EUR should benefit from but also expect several retracements to adjust and look for supports in order to sustain their gains from this week - USDJPY - Looking Bear - USD vs GBP also on the bear side - USDCAD also not looking good for USD
Long
by Hybriss
1
US inflation before dollar fallThe dollar edged lower in early European trading on Monday as traders remained cautious ahead of the release of key U.S. inflation data that could provide further clues about FBI policy. Future Federal Reserve System. As of 3:20 a.m. ET (7:20 p.m. Japan time), the dollar index, which tracks the U.S. dollar against a basket of six other currencies, was down 0.1% at 105.627. US consumer price data attracting attention The new week began with a weaker dollar as traders awaited the release of October's U.S. consumer price index for an update on the Fed's progress in reining in low-level inflation. Last year was the highest level in decades. Inflation is expected to rise by 0.1% per month. CPI rose 0.4% in September due to an unexpected rise in rents, but also showed that underlying inflationary pressures had eased slightly. October's jobs report, which suggested labor market conditions are easing, could fuel rumors that interest rates could peak if the economic slowdown accelerates further. But Fed Chairman Jerome Powell suggested last week that the fight against inflation may not be over yet and that the Fed could raise interest rates further, a view echoed by many of his Fed chairmen this week. Supported. "While it's clear from the federal funds futures curve that the market remains highly skeptical about whether further rate hikes will occur, Powell's comments could be the culmination of recent resistance to gradual price adjustment. There is a sex.” A number of Fed speakers are expected to contribute this week, especially in terms of leaving open the possibility of further rate hikes that could support the dollar, especially if inflation data shows prices are stabilizing. He is likely to agree with Chairman Powell.
TVC:DXYShort
by AstronautPioneer
$DXY Idea UpdateHi guys, this time i bring you all a Dollar analysis, where my direction is bearish if the yields really throw it down with the SMT Divergence, I'm bearish because we closed under the Weekly Inverted Fair Value Gap and also we have an OB which is really strong even though it has a lot of liquidity in the upper part, but still, im expecting to see DXY going after the PWL mainly, and then if it really plays out slowly then we could go after those EQLs and the Weekly BISI where we would bounce off back again after the 50% of the Monthly FVG above. UPDATE: I'm still leaning onto the bear side, this matches with my FX:EURUSD analysis, so i feel like this will play out nicely, the only reason for which i confirmed short on DXY was because we had a CISD after all.
TVC:DXYShort
by zeratrading
DXY → Next hurdle emerges around 106.00TVC:DXY looks to extend further last week’s rebound, although the 106.00 region proves to be quite a strong barrier for the time being. Once the 106.00 hurdle is cleared, the index could then embark on a potential test of the November peak at 107.11 (November 1) ahead of the 2023 high of 107.34 (October 3). In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.
TVC:DXYLong
by tradingconmike
$DXY Analysis ''Are we going after the sellside liquidity?''Hi guys, this time i bring you all a Dollar analysis, where my direction is bearish if the yields really throw it down with the SMT Divergence, I'm bearish because we closed under the Weekly Inverted Fair Value Gap and also we have an OB which is really strong even though it has a lot of liquidity in the upper part, but still, im expecting to see DXY going after the PWL mainly, and then if it really plays out slowly then we could go after those EQLs and the Weekly BISI where we would bounce off back again after the 50% of the Monthly FVG above.
TVC:DXYShort
by zeratrading
DXY 2 senario with detailhi dear trader this price action for dxy with detail It is near the end of the year, institutions want to put a stop to the money for the Christmas celebration and take it out now... be careful.... My personal opinion is that he may not pay attention to the conversation this year, but this year he will fill the conversation with news of a war with something, but in any case, two scenarios should be considered... My personal opinion is that he will complete scenario 1 later. From the diamond pattern good luck mehdi
TVC:DXY
by mehdi_kb
DXY$ Shorts from 105.800 down towards 105.200As expected our last week scenario (A) played out perfectly like we anticipated which was seeing a bullish reaction from the 4hr demand. For this week's bias we are still temporarily bearish with the dollar as it's approaching a clean 14hr supply zone. As soon as it gets tapped in I will be waiting for my lower time frame confirmation i.e. a Wyckoff distribution schematic and a clean CHOCH to the downside. I would preferably wait for the asian high to get swept inside the zone before looking for a drop in the dollar index. I am bullish long term but, as price has broken structure a few times to the downside I would like to catch sells down towards the next demand at least. My confluences for DXY$ Shorts are as follows: - Price approaching a 14hr supply zone that has broken structure the downside. - Imbalances have fully been filled and momentum has slowed down (good sign for a reversal) - Huge trend line left way below that price would want to grab and theres also lots of liquidity below to target as take profit levels. - In order for price to keep pushing up it will need to enter a level of demand, so as of now we will be trying to catch sells down towards a demand. P.S. Only if my extreme 7hr supply zone gets violated, we will then know if price wants to continue in its bullish trend or not. But as of now I see price dropping more due to the perpetual BOS's. Also, as the dollar is a direct negative correlation to most of my pairs, the bias will suggest a bullish move to take place for EU, GU and gold If DXY$ decides to continue bearish.
CAPITALCOM:DXYShort
by Hassan_fx
1
The Alarming Volatility of the US Dollar – A Call to Action The recent turbulent fluctuations witnessed in the strength of the US Dollar have left experts bewildered and traders on edge. As we navigate through these uncertain times, it is crucial that we take a moment to pause and reevaluate our trading positions before potentially exposing ourselves to unnecessary risks. The unprecedented volatility of the US Dollar has sent shockwaves across the global financial markets, stemming from a multitude of economic, political, and social events. These complexities have made it exceedingly challenging for even the most experienced traders to predict or decipher the future direction of the dollar accurately. The sudden shifts and erratic movements have destabilized not only its inherent value but also significantly influenced the correlation with other major currencies. Given the circumstances, I implore you all to reflect upon your current dollar trading strategies. It is paramount that we reassess the potential risks and rewards associated with trading the US Dollar in the present climate. As responsible traders, it is vital to exercise caution and adjust our positions accordingly, considering the magnitude of uncertainty that envelopes the dollar's market stability. I strongly encourage you to undertake a thorough analysis of your portfolios, taking into account the potential consequences of sustained volatility and the possible ripple effects on other currencies and financial assets. It is prudent to diversify your holdings, exploring alternative investment options that may help mitigate the potential risks associated with the current dollar turbulence. In these challenging times, it is crucial for us to remain vigilant, responsible, and adaptable in our approach. By taking a pause and reevaluating our dollar trading strategies, we can safeguard our investments and insulate ourselves from sudden and adverse market movements. Remember, preserving capital is equally as important as pursuing profits.
TVC:DXY
by bryandowningqln