Selling pressure on USD is increasing and in the current contextDXY: USD index today is maintaining below 105.20.
After consecutive drops beyond the support level, the USD is in a continuing downtrend
Investors should pay attention to protect profits with BUY positionsShows that selling pressure on USD is increasing and in the current context, information about the US is getting worse, causing the USD to weaken. Regarding technical factors. Because it has broken out of the uptrend zone, it is expected that the market will have a slight retest of the trend and then continue to decline. You can consider maintaining a sell watch with USD today.
Dxyanalysis
Is the correction coming?If we analyze the current dynamics of TVC:DXY , there is a probability that in the third quarter of 2024 the index will come out of accumulation and reach the levels of 109.535 and 113.148.
Note that the growth of TVC:DXY is usually accompanied by a correction in the financial markets.
DeGRAM | DXY rebound from the demand zoneDXY is moving in the demand zone above dynamic support.
The price is testing the support level, which has already acted as a rebound point.
We expect a reversal after a retest of the upper boundary of the current zone.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
DXY: there will be a correction todayDXY: The USD index yesterday fell sharply, penetrating the support zone and creating a head and shoulders pattern that can be clearly observed in the H1 frame in the context of negative information focusing on the US yesterday. And the FOMC meeting somewhat supported the USD's adjustment, but not significantly. Regarding technical factors this morning, DXY tested the neckline again, so it is likely that USD will continue to decline today. Consider maintaining a short position with USD.
DeGRAM | DXY rebound from the retracement levelThe DXY is in an ascending channel below the trend lines.
The chart touched the lower boundary of the channel and bounced off the 62% retracement level.
The price is above the mirror support level.
We expect the growth to continue after the retest of the current level.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
DXY:C has bearish GAP reactions amid election newsDXY: The USD index is having transient reactions withinside the establishing consultation of the week with GAP falling sharply in a touchy context because of election news. In phrases of technical factors, with this GAP pressure, it's far viable that the USD will witness a bigger correction that could increase the buildup variety to the 105.6 area. You can keep in mind quick promoting the USD today.
DXY moved into a narrow range but looks bullish**Monthly Chart**
DXY has been moving into a long-term range between 107 and 100 levels (round numbers) from January 2023. Last month candles closed lower after creating manipulation candles on monthly. This month's candle (currently active) tested the low of the previous two months and pushed higher with the NFP announcement last Friday. This moved DXY back into a narrow range.
Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
**Weekly Chart**
Last week the DXY closed higher after testing the daily swing low and liquidity pool around 104 level. It closed as a weekly bullish key reversal (low test) candle pattern which indicates a move of the price will be bullish for next week. The next target will be around 106, followed by 107.34 levels.
**Daily Chart**
You can see the impact of NFP and Employment Change that created a massive bullish candle on Friday after testing the Imbalance price action (IPA) for the entire week near the previous daily low and liquidity pool. This candle is a new IPA that will need to be tested for liquidity again this week. I will be looking for a retracement towards at least 50% of this candle which will provide a second confirmation that the move for DXY will be bullish for the upcoming weeks.
This is another indication to look for selling opportunities for other currencies against the USD. Such as EURUSD, AUDUSD, and GBPUSD to go short for this week.
DXY: USD index still maintains bullish stanceDXY: The USD index yesterday received both good and bad news. Therefore, we see that the USD largely maintains a state of accumulation and adjustment. On the Daily frame, a fairly positive candlestick is formed around the 105.70 threshold. However, in today's session, DXY is at risk of a deeper correction to around the 105.50 - 106.00 area and maintains its accumulation state today. You can consider buying USD when DXY returns to the 105.5-105.6 area.
DXY increased in price abnormallySometimes, it’s not worth overcomplicating things.
While the (negative) correlation between real yields and gold has deteriorated in recent months, after-inflation interest rates remain one of the biggest factors driving the performance of the yellow metal.
With the benchmark US 10yr Treasury yield carving out a potential near-term bottom last week and rising to a two-week high today, gold accordingly topped out last week and has fallen to a two-week low. Now moving forward, the key level for bond and gold traders to watch will be the 4.31-2% level that has served as consistent support/resistance dating back to at least 2022. If yields can rally above that level, it could spur on another leg lower in gold prices.
DXY is strong when it releases 1-year bond yields, but this is just a temporary move when things are not going well for US data
DeGRAM | DXY testing of the correction levelDXY is moving in an ascending channel between trend lines.
The volatility of the movement is decreasing.
The impulse started from the demand zone and now the price is above the 62% retracement level, which has already been a pivot point for 3 times.
We expect a rebound after retesting the 62% retracement level.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
DXY MARKET FORCAST ON MONDAYOn the 1-hour time frame, the DXY is ranging between 105.505 and 105.774. If the market breaks below 105.505, we anticipate buying opportunities in the gold market. Conversely, if it breaks above 105.774, we expect selling opportunities in the gold market. This is my current perspective on the DXY. From these key levels, the market has been respecting. Last week, the DXY formed an inverse head and shoulders pattern, followed by an impulsive move. Currently, it might be forming a correction or a bullish flag. We will wait to see which direction it breaks before pursuing opportunities in the gold, GBP/USD, and EUR/USD markets.
DXY Bullish rallies from 105.200 or 104.400The bias for the dollar is to continue its bullish trend. We have seen a change of character on the higher time frame followed by a break of structure, confirming the upward movement. There are also equal highs above the current price that need to be swept.
Due to recent bullish momentum driven by news, the price may be exhausted. At the start of the week, we might see a drop in price as it mitigates a demand zone. Once the price taps into one of these marked demand zones, I expect a bullish reaction.
P.S. Once the price moves up, it may react to the 8-hour supply zone, causing a temporary sell-off. However, I won’t be surprised if this zone gets violated due to the liquidity pool sitting above it.
DXY The Fake Dance- One of the most important barometers for global currencies and markets in the world.
- Most of the time DXY is a well used machine to supress markets (forex, stocks, cryptos, etc..)
- When they don't start the printing machine, DXY keeps is strength.
- When they start to print DXY starts to dip and markets boom up.
- it's really basic and based on "BRRR Machine".
- i had a hard time to decrypt this fake peace of resilience.
- actually there's none visible divergences on the 1M or 3M Timeframes.
- So i decided to push my analysis to 6M Timeframe and noticed few things :
- You can notice that from 2008 ( Post crises ), DXY was in a perma bullish trend.
- So now check MACD and will notice this fake move on January 2021 ( in graph the red ? )
- MACD was about to cross down, columns smaller and smaller, then a Pump from nowhere lol.
- i rarely saw that in my trading life on a 6M Timeframe.
- So to understand more this trend, i used ADX (Average Directional Index)
- ADX is used to determine when the price is trending strongly.
- In many cases, it is the ultimate trend indicator.
- So if you look well ADX columns, you will notice that a strong divergence is on the way.
- First check the Yellow Doted Line in July 2022 when DXY reached 115ish and look the size of the green columns.
- Now check today (red doted Line), and look again the ADX green columns is higher, but DXY diped to 105ish.
- So like always, i can be wrong, but i bet on a fast DXY dip soon or later.
- it's possible to fake pumps, but it's harder to fake traders.
Happy Tr4Ding !
GBPUSD & DXY Analysis: Key Expectations and Trends Ahead!Greetings, Traders!
Join me in today's video for an in-depth analysis of GBPUSD and DXY, where we'll explore key expectations for today's and tomorrow's trading sessions, as well as summarize this week's trends. This analysis is pivotal as it sets the tone for next week's trading. We've reached a critical juncture on both the DXY and GBPUSD charts, making it essential to understand the potential market movements ahead.
What do you think will be the major market mover going into next week?
Stay tuned for valuable insights, and don't hesitate to leave any questions or comments below.
Happy Trading,
The_Architect
Bearish on DXYThis week we have CPI and US Fed funds rate announcements. Most probably we don't get a rate cut for now (as the market expects). However, I think this week the announcements are coming out with a more dovish tone.
Let's see what happens . . .
If the CPI number come out lower or equal to the expectations and the Fed Chair Powell signals 1 or 2 rate cuts for this year. I believe we can expect the yellow scenario. Otherwise, we can expect the red scenario happens in short term.
DXY Weekly Analysis Dollar index has retested the weekly fvg and also sweeping the Swing Low on Daily Time frame. After sweeping the low the DxY reversed and made a new high with a market structure shift .
In the upcoming weeks the dxy will retrace a little to the daily fvg and from there will target buyside Liquidity near 105.7 and 106.5