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DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 15% DXY, 85% Cash. * BOUNCE WATCH . DXY, US Treasuries and VIX are down while EURUSD, GBPUSD, JPYUSD, CNYUSD, Cryptos, Equities, Equity Futures and Commodities are up. US October Consumer Confidence dropped to 102.5 from 107.8 in September as consumers are beginning to expect economic decline in the short to medium term. Russia told the UN today about their fear of a Ukrainian 'dirty bomb' ploy to accuse Russia of using tactical nuclear warfare . This type of strategy was most recently used in the Crimea bridge explosion incident which Russia was quick to pin on Ukraine, it's based on a kind of Red Herring fallacy in relevance called Circumstantial Ad Hominem where one arguer claims that the other's personal situation or perceived benefit from advancing a conclusion means that it's the wrong conclusion. Key Upcoming Dates: US September New Home Sales at 10am EST 10/26 ; Alphabet Q3 Earnings and Microsoft Q1 Earnings 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26 ; US Q3 GDP First Estimate at 830am EST 10/27; Amazon Q3 and Apple Q4 Earnings 10/28; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is trending down and currently testing the 50 MA at ~$110.75 as support, the next support (minor) is at ~110. Parabolic SAR flips bullish at ~$113.90, this margin is mildly bullish at the moment. RSI is currently trending down at 45 and is on the verge of losing support of the uptrend line from July 2020 at 49 minor support, the next support is at 39.43. Stochastic remains bearish and is currently testing 9 support with no signs of trough formation. MACD remains bearish after breaking down below 0.65 support and is currently trending down at 0.34 with no signs of trough formation as it approaches 0.24 support. ADX is trending down at 17 with no signs of trough formation as Price is beginning to breakdown, this is neutral at the moment. If Price is able to bounce here than it will likely retest ~$112 as resistance before potentially retesting the one-month-high of $114 as resistance . However, if Price breaks down below the 50 MA, it will likely retest $110 minor support . Mental SL: (two consecutive closes above) $112.
TVC:DXY
by dailytaguy
DXY Potential pullback and fall to supportWelcome back! Let me know your thoughts in the comments! **DXY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
CAPITALCOM:DXYShort
by BKTradingAcademy
DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 30% DXY, 70% Cash. *DXY, 10 Year US Treasury Bonds and VIX are taking a hit as JPYUSD, GBPUSD, EURUSD, 30 Year US Treasury Bonds, Cryptos, Equities, Equity Futures and Commodities are all up. This is after speculation that Japan's government had intervened in currency markets by selling USD for JPY in order to protect a key JPYUSD threshold . Additionally, San Francisco Fed President Daly (currently not FOMC member) commented that the Fed should reevaluate how restrictive they need to be and that 75bp increments after November may be unnecessary . This combination is likely responsible for today's shift in market sentiment toward more Risk-On. St. Louis Fed President Bullard (FOMC member) quickly clapped back today and said that the Fed can keep raising rates until they see inflation come down meaningfully because the job market is "extremely strong" . Comments like Bullard's leave the possibility of 100bps on November 2nd still on the table. The 7th and penultimate Beige Book of 2022 released on 10/19 highlighted : a tightening job market with wage growth still intact, a slowing housing market, a continued weakening demand for production and an increase in travel/tourism from the post-Covid reopening. Key Upcoming Dates: S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is currently trending down at ~$112 after being rejected by the upper trendline of the ascending channel from October 2008 at ~$114 as resistance, this is just below $114.63 major resistance. Parabolic SAR flips bearish at the 50 MA (~$110.50) which is just above $110 minor support, this margin is mildly bearish at the moment. RSI is currently trending down at 51.50 as it approaches a retest of 49 minor support, this would likely coincide with the uptrend line from July 2020 at ~48 as support. Stochastic is currently on the verge of crossing over bearish at 46 after forming a peak at 51 resistance, the next support is at 24. MACD remains bearish and is currently reversing a trough formation as it breaks below 0.65 support and continues to trend down at 0.57; the next support is at 0.24. ADX is currently trending sideways at 19 as Price continues to see rejection at the local high, this is neutral at the moment. If Price is able to bounce here then it will likely aim to retest the upper trendline of the ascending channel from October 2008 at ~$114 as resistance (and potentially $114.63 resistance ). However, if Price continues to breakdown here, it will likely retest the 50 MA at ~$110.50 as support before potentially retesting $110 minor support . Mental Stop Loss: (one close above) $113.32.
TVC:DXY
by dailytaguy
DXY remains extremely strongIn my previous DXY analysis I said that 113 should provide strong resistance and a drop from here is probable. Although we indeed has a drop, this was short-lived and didn't reach my 110 target and reversed from the ascending trend line indicating that bulls are not done yet. Now the price is again close to this resistance and the Morning Star candle formation combined with yesterday's Pin Bar gives us an indication of upside pressing and imminent upbreak. Confirmation for this bullish outlook comes with a break above 113 and, considering the 400 pips base of the symmetrical triangle, the target can be around 117. A break under recent low would put a pause in this bullish scenario.
CAPITALCOM:DXYLong
by Mihai_Iacob
4
DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 30% DXY, 70% Cash. * China delayed publishing key economic data including retail sales, industrial production, home prices and Q3 GDP amidst Incumbent President Xi Jin Ping's expected reelection for a third term . Chinese officials say it's because of the ongoing National Congress of the Chinese Communist Party, but at the last Congress in 2017 the data was released promptly. This begs the question of how much of the delays are due to hopes of a swift economic recovery from their prolonged Covid lockdowns (and heat waves) being halted by sanctions and supply chain disruptions. Mastercard announced a partnership with Paxos today and together they will offer a program to financial institutions that will allow them to provide crypto trading to clients as well as guidance on regulatory compliance . Key Upcoming Dates: US September Building Permits and Housing Starts at 830am EST 10/19; 19th GDPNow US Q3 GDP estimate 10/19; S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is currently trending down at ~$112.13 after getting rejected by the upper trendline of the ascending channel from October 2008 at ~$114 as resistance and forming somewhat of a Double-Top pattern as a result. Parabolic SAR flips bearish at $110.20, this margin is neutral at the moment. RSI is currently trending down at 53 after being rejected by 59.17 resistance for the second time in one week. Stochastic remains bearish for the third consecutive session after crossing over at 51 resistance and is currently trending down at 33, the next support is at 24.14. MACD remains bearish after failing a second attempt at a bullish crossover and is currently trending down at 0.78 with no signs of trough formation as it approaches 0.65 support. ADX is currently trending down at 22 as Price is beginning to fall, this is neutral at the moment. If Price is able to bounce here then it will likely aim to retest the upper trendline of the ascending channel from October 2008 at ~$114.50 as resistance which would coincide with $114.63 resistance . However, if Price continues to breakdown here, it will likely retest the 50 MA at $110 minor support . Mental Stop Loss: (one close above) $113.32.
TVC:DXY
by dailytaguy