DXY (US-DOLLAR) testing a potential reversal-zoneHey tradomaniacs,
What a wild ride today in the market.. I can just shake my head as we`ve seen a complete whipsaw with the US-Session.🙈
Yep.. its monday and the last day of the month which is often shaky, especially now ahead all these events.
Looking at DXY (US-DOLLAR-INDEX) we can clearly see a re-test of a strong support-zone which is getting tested right now.
The S/H/S-Breakout got faked during the london-session, which was for me a great evidence for a long. After that we`ve seen a fakeout above the secondary trendline of the head and second shoulder and so a break down with risk-on in equities.
Dxyforecast
DXY SHORTS 📉📉📉📉 On a mid-term perspective i expect bearish price action on this pair till price reaces bullish orderblock on d1 around 96.000 price takes out buy side liquidity and closes bearish on friday d1 after a huge bull run meaning bulls are losing momentum and bear are getting momentum on the london open monday morning. We will see bullish price action on XXX USD pairs and bearish on USD XXX pairs
What do you think ? Comment below..
DXY SHORTS SHORT TERM 📉📉📉📉 Expecting bearish price action on DXY from a short term premise as price takes out all the buy side liquidity above 97.000 and range area, on a intra-day perspective price takes out previous daily high and asian highs that means market is due for a correction, from a long term perspective USD is very bullish for me
What do you think ? Where go next ?
DXY- Up we broke, 100 is in cardsIf you follow my ideas, you know that I'm bullish USD for quite some time, and the market didn't disappoint me so far.
Looking at DXY, we can see that after the drop from 2 weeks ago, USD has found strong bids exactly in the confluent support given by the trend line and the horizontal one, and a strong V shape recovery followed.
Now we also have an up break of the old resistance and consolidation and the index looks determined to reach 100 psychological figure.
The strategy for USD pairs should be to sell rallies for EurUsd, GbpUsd, AudUsd, and NzdUsd
DXY US Dollar Currency Index: 1M ChartToday I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period.
The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. Most recently it has broken a multi-year resistance zone, created through a double bottom pattern.
If the DXY breaks out of the descending parallel channel, we can see the price go up significantly as shown by the Fibonacci Extension (Trend-Based Fib Extension).
If the price gets rejected at the channel top, the price can go back down to as low as $60-65, which will create a triple bottom (generally bullish pattern).
This is a multi-year chart so don't expect everything to move quickly.
When zooming out, the US Dollar price looks very bullish in the long-term.
What are your opinions on this? I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
DXY Update DXY (Update)
After distribution phase at the top, Dxy took a hit and fall to immediate support at 94.600.
We are expecting dxy to be bearish again and make a new low confirming lower high and lower lows (Bearish Trend).
Trade your levels accordingly.
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DXY SHORTS 📉📉📉📉 Expecting bearish price action on DXY as price takes out weekly high and made a huge bearish momentum that means price is due for a correction, we have a lot of liquidity that has been build on friday low that has to be taken out, please be aware that tomorrow is FED meeting that could bring volatility into USD.
What do you think ? Comment below..
Wave 5 coming for the DXY?All eyes are on the fed's meeting next week. If they mention anything about increasing interest rates at a faster pace or with higher frequency, the market will get more jittery. My guess is this hawkish bear stance is almost coming to an end and the risk on will pamp once the interest rates hikes actually kick in. For now I'm bullish on the dollar, it should see some resistance at around the 96.1 level, find some consolidation and it's off for the wave 5.
DXY SetupDXY is trading in a short term tentative bearish parallel channel. Two senarios can play here
1. Bears Control - DXY take a hit from parallel channel and drop to support level.
2. Bulls Control - Price break sharply above the parallel channel and meet its recent high.
Trade your levels accordingly.
Dollar Index (DXY) | Small correction♻️Hello traders, Dollar Index ( DXY ) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the wave counting done in higher times, a leading trend is formed and from this trend, waves 4 and 5 remain.
Wave 4 was originally intended as a flat, but wave c, which we identified in the count now, did not look like a leader, and we assumed it would be a zigzag triple.
So the count has changed to triangle and from this triangle the waves a, b and c are complete and now we are inside the wave d.
From wave d, wave a continues to form, and from wave a, waves 1, 2, and 3 have ended, and now the beginning of wave 4 is confirmed by breaking the bottom of the orange channel.
Wave 4 will probably not be as deep as Wave 2 and will be moderately temporal.
According to the current structures, it is probable that wave 4 will end in a zigzag pattern around Fibo 0.38 to Fibo 0.50, or in other words, around the price of 94,000, and in the following we will examine the trend of the next movements.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
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DXY- 95.50 is now resistanceAfter consolidating around 6 weeks in a 1.5 points range, last week DXY has fallen under support giving us a strong bearish signal.
This drop was stopped by the horizontal 94.50 support and how the index is searching for direction.
The incapacity to stay above 94.50 support will be very bad for USD confirming a false break and a lower high in place on the longer time view and also opening the door for losses towards 90 zone.
On the other hand, if bulls manage to drive the price back above 95.50 we will have the confirmation for a trend change for USD and we can expect continuation to 100.
A good strategy can be to trade the range for USD pairs till clarification.
DXY Analysis 16/1/2022 1hrLooking at the DXY here for Monday's open and a is said in my last post it looks exhausted. I am ideally looking for a double top here but I think a test of this yellow line, there is so much liquidity there it would make tons of sense. I would love to see it get taken out straight away just to see a bearish week ahead for dollar pairs because there will be some huge plays to make.
so either M pattern forming here for a short term downside move. before seeing a test of the yellow line or we will see continuation upwards to the yellow line before price coming back down. my green line below are really strong levels of support so expect price to eventually hit these levels perfect short on the break of these levels and probably a nice recovery bounce long scalp position from them aswell.
overall not looking good, kind of in the position of short term retrace catch the liquidity and continue down or we will see downwards momentum from the open tomorrow. if we go up I don't think it will be for long I am looking for nice short entries on dollar pairs and my earlier post was stating I have a long set on eurusd so lets see what happens.
DXY Hello traders,
starting this week I will start doing my weekly analyzes for the year 2022! I wish you a happy and fulfilling New Year
as I said on last weeks ..DXY still keeps the premises of forming a pattern that it has been following since May 2020!
Just like I told you, DXY is in a very difficult area and even if it can force you and reach the 97480 area ... I will look for SELL in the next period
THIS WEEK... as I said in my last analysis ... I will look for SELL per DXY up to around 94,500 because as we show you towards the end of 2021 I noticed a pattern that has formed since June 2020!
indeed, DXY went down to the mentioned area from where I will wait for a range and a descent to the Fibonacci 618 and then ... UP AGAIN!!
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*This information is not a Financial Advice.
Wave 4 correction looks complete for the DXY.The DXY broke back down into the channel and is now testing the middle band of the channel. This should be the end of the wave 4 correction and we should see more upside to come for the dollar index. We should see some choppiness in the coming weeks before a break up farther to break the top and for the final wave 5. This final wave should hit the 99 price levels.
BULL CASE
This could be the bottom if price does not break the low formed at 94.6. We will get in on the correction when RSI hits 5 on the 4hr, place a SL on 94.6 and ride it all the way to 99.
BEAR CASE
If 95.6 fails to hold, we could be seeing a deeper wave 4 correction and this could bring us all the way down to 93.1. However, we think this is unlikely unless the fed announces major changes to their taper plans.