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Dxydaily

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
DXY Daily Analysis - Fall to 200EMA 105.000 Level Then Bounce?DXY has been rejected at the bull channel support, falling to 105.000 before closing last week. There is now a gap to the 200EMA, which given the rejection bar, seems like a probable target if you're already short. I would caution going full-on short just yet until we close below the 200EMA. If we get a bounce at the 200EMA, I would consider a long back up to the 30EMA at 106.000. Key Points: 1. Fell out of Bull Channel 2. Rejection off of the Bull Channel at the 107.000 area 3. There is a gap down to the 200EMA 4. RSI Room to Move Up As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful. Trade wisely and let us know what you think in the comment section below!
TVC:DXY
by TraderEngineering
DXY Daily Chart Analysis - Will DXY Return to the Bull Channel?DXY finally broke out of the bull channel it has been in since July of this year. A strong bull response off of the 30EMA brought the price back to the bull channel. We are now waiting to see if the price can re-enter the channel, or if it fails and confirms a breakout to the downside. Key Points: 1. Bear breakout of the Bull Channel, waiting for confirmation 2. Strong bull response on 30EMA below the channel 3. Price is currently testing the channel 4. RSI is near 50 and is not supportive of either direction 5. Before trading DXY, wait to see if the price confirms or denies a breakout Since we are in a bull trend, the probability of a confirmed breakout to the downside is less than the trend continuing to the upside. I think it is best to wait for a Daily close within the bull channel before entering a long or a bear candle closing near its low below the 30EMA before shorting. The bias ought to remain bull until we have confirmation of a break to the downside. As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful. Trade wisely and let us know what you think in the comment section below!
TVC:DXYLong
by TraderEngineering