Dxybuy
DXY-BUY strategyI am happy the stop-loss yesterday was executed with a minor loss. I was not convinced either way, and instead the DXY went through the daily-chart cloud support and moved lower. Looking at the 4-hourly chart (for very short-term view), the move lower went a little to steep. This creates a short-term BUY opportunity, but of course we keep things close to the belt.
Strategy is BUY current 95.30-95.40 range and place stop let's say 35 pips away, i.e. 94.95 and take profit 95.85-95.90. The over all trend is down, but we are oversold and for that reason think it is worthwhile try here.
DXY- careful BUY strategyInitially I had a SELL position, but liquidated early 95.68. We have extended the move further even below 95.00.
This has caused the weakness of USD across the board, including USDTRY of course.
For now, I feel stochastic is overdone (RSI a little lesser overdone). The DMI is negative for quite some time, and same for the MACD.
I prefer to carefully BUY 94.75-95.00 for a move back to 95.78. Stop-loss 94.50 for now.
DXY- Can it reach 100 by year's end?After breaking above the rounded bottom neck-line in November, DXY has confirmed its long-term trend change.
The month of December is marked by consolidation in a rectangle with resistance in the 97 zone.
I expect a break to the upside soon and we can have a 3 digits Index quote by year's end.
As long as the price is above 94.50 USD is very, very bullish
Sell rallies on EurUsd, GbpUsd. AudUsd and NzdUsd can be a good idea
DXY is pressing higherAfter reaching a high of 97, DXY has started to correct and, after a few days of correction, the index has started to consolidate in a tight 0.5 points range.
Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high.
My target for the index remains 100, and traders should look for opportunities to sell rallies in EurUsd, GbpUsd, AudUsd and NzdUsd.
A drop under 95.80 could mean that the index has further to correct and expose 94.50 very important support.
Overall USD is strongly bullish on medium-term and the safest way to play it is to buy it low.