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DXY Daily TA Neutral BearishDXYUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% DXY, 60% Cash. * The US October Employment Situation today reported 261k nonfarm payroll jobs added (vs 250k expected), a 0.2% increase in unemployment and a 62.2% labor force participation rate. These numbers hardly reflect monetary tightening (labor force participation rate has remained largely unchanged since Covid-19 lockdowns) nor a recessionary environment. If CPI comes in lower on the 10th it will likely help soften the Fed's stance on inflation but as it stands now, the Federal Reserve is likely to increase the funds rate by another 75bps in December. If CPI comes in higher on the 10th, 100bps would likely be on the table come December 14th. The Russia/Ukraine grain deal that Putin resumed this past Wednesday will expire on 11/19/22 and there have been no commitments to extension thus far. Chinese stocks are in rally mode as rumors regarding a reopening from Covid restrictions are beginning to circulate. Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently trending down at $110.78 and is still technically testing the 50MA at $111.15 as support. Parabolic SAR flips bearish at ~$109.61, this margin is bearish at the moment. RSI is currently trending down at 45.84 with no signs of trough formation and is on the brink of losing both 49.10 support and the uptrend line from July 2020 as support; the next support is at 39.43. Stochastic is currently on the verge of crossing over bearish as it tests 68.24 resistance. MACD remains bearish after a failed bullish crossover and is currently trending down at 0.035 as it approaches a potential retest of -0.065 support. ADX is currently trending down slightly at 13.70 as Price continues to try to push higher, this is mildly bearish at the moment. If Price is able to bounce off of the 50MA as support then it will likely retest the local-high of ~114 as resistance . However, if Price continues to break down here, it will likely retest $110 minor support . Mental Stop Loss: (two consecutive closes above) $111.20.
TVC:DXY
by dailytaguy
20 REASON FOR SHORT DOLLER INDEX1 Structure analysis time frame DAILY 2 target time frame :DAILY 3 Current Move : IMPULSE 4 Entry Time Frame : H4 4.1 Entry TF Structure: BEARISH 4.2 entry move : RETRACEMENT 5 Suppot resistence base : H1 ORDER BLOCK BLOCK 6 FIB: DISCOUNTES AREA 7 candle Pattern: MOMENTUM ENGULFING 8 Chart Pattern: RISING WEDGE BREAKOUT 9 Volume : DRIED 10 Momentum UNCONVENTIONAL Rsi: SIDEWAYS 11 Volatility measure bollinger bands: POSSIABLE DIVERGENCE MOVE 12 strength ADX: BEARISH 13 Sentiment ROC: STRONG BUT ITS A DAILY CORRECTION 14 final comment : GOING DOWN FOR A FINAL TARGET 15 : decision SELL 16 Entry: 110.540 17 Stop losel: 111.090 18 Take profit: 108.260 19 Risk to reward Ratio: 1:4 Excepted Duration : 4 DAYS
ICEUS:DX1!Short
by Optimum369
DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 25% DXY, 75% Cash. * 50MA RESISTANCE TEST. Both PCE price index and Core (without food and energy) for September saw the same increase from the August report , with PCE increasing 0.3% from August and Core increasing 0.5%. Though some may see this as plateauing, it's a bit premature and doesn't negate the fact that PCE is still increasing. Federal funds rate traders are still betting on a 75bps rate hike next Tuesday. The first GDPNow US Q4 GDP estimate is 3.1% ; the last Q3 GDP estimate was 2.6%. DXY, US Treasuries, Cryptos, Equities, Equity Futures and GBPUSD are up while Commodities, CNYUSD, JPYUSD, EURUSD and VIX are down. Key Upcoming Events: 2nd GDPNow US Q4 GDP estimate 11/01; FOMC Statement at 2pm EST 11/02; October Employment Situation at 830am (EST) 11/04; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price is currently trending down at ~$110.70 after getting rejected by the 50MA at ~$111 as resistance on the first test, the next support (minor) is at ~$110. Parabolic SAR flips bullish at $113.45, this margin is mildly bullish at the moment. RSI is currently trending up slightly at 46 as it approaches a test of the uptrend line from July 2020 as resistance at ~47, if it's able to break above then it will likely test 49.10 minor resistance. Stochastic crossed over bullish in today's session after bouncing off of 9 support, the next resistance is at 24. MACD remains bearish and is beginning to show signs of trough formation as it tests -0.065 support. ADX is currently trending down slightly at 15 as Price continues to fall, this is mildly bullish at the moment; if ADX doesn't form a trough and Price keeps falling, this would imply that the bull run isn't over. If Price is able to breakout above the 50MA at ~$111 as resistance then it will likely retest the 1-month high of $113.95 as resistance . However, if Price continues to trend down here, it will likely retest $110 minor support . Mental Stop Loss: (two consecutive closes above) $111.
TVC:DXY
by dailytaguy
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