Dxyforecast
Dollar index has a upward direction temporarilyDollar is creating a regular flat pattern.
The wave is within is upward.
Therefore before more collapsing, it maintains its upward direction.
BULLISH DXYDXY has bottomed out around the 89.50 level and has continued to grind higher since. The next level that we took out was the 89.90 level which now acts as support and the upward trend line and pivot area. I expect a move higher in the dxy in the coming weeks and therefore I will sell the rallies in EURUSD and AUDUSD and buy the dips in USDJPY.
Good luck!
Dxy- Now whatAfter breaking up the falling wedge, Dxy has reached the pattern's target and now is trading in very strong resistance zone that lies around 91.50.
A correction can follow at this point and 90.50 could be the target
DXY Idea on 16 June 2021 #H4As we see dxy chart on 16 June 2021, after dxy finish running on flat price range between 90.400 - 90.600 from 13 June to 16 June, As FED meeting would affect the interest rate and US Dollars.
Trading plan, Wait for break out Flat Range and long at retest around 90.600 Target 90.800-90.850
DOLLAR INDEX DXY - H4 - SLOWLY BUT SURELY WE RISEDollar Index - H4 - Steady and consistent uptrend on the hourly timeframe on DXY. We're expecting a dip early on next week then a strong rally later on in the week.
DXY holding on to consolidation mood
After last week's NFP unexpected red results, the DXY remains under seller pressure- Barely holding on to the 90 handle. A breakout of that level could bring a strong bearish momentum that might get prices around 89.70
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DXY Bearish Than BullishDollar create descending channel with hidden bearish divergence. So now its gonna complete 5 than supper bullish for dollar!
DXY BearishPresident Mr Biden to Propose $6 Trillion Budget to Boost Middle Class and Infrastructure, So Dollar will print & weak from this level!
Dollar Index DXY Go UpDollar Index will increase in this week. Because it has support from US10Y remains above 1.6
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DXY- Finally a bullish signAs I mentioned a few post back, Dxy is trading in a falling wedge and losses are marginal which can mean reversal.
Now we have the first bullish sign from the index with a break above the wedge's resistance
A short term horizontal resistance is in play at this moment and if this is broken also we can have a correction in USD pairs
DXY Long Setup USD Relief Rally The dollar has been under some pressure and now I think
we will see a reverse in trend towards the upside .
I have drawn the obvious head and shoulders with the right shoulder to possibly develop.
In which case I favour a move upwards towards the 91 area which will build
our right shoulder .
This in turn will put pressure on Gold prices * See below for my gold short analysis * .
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Know your Invalidation and use a SL .
DXY- A clear falling wedgeSince the beginning of May, USD was weak and dropped again under 90 figure.
However, the drop is not impulsive and the lows are marginal, forming a falling wedge on the lower TFs.
A break of wedge's resistance could lead to acceleration to the upside and we finally can have a correction on usd pairs
DXY bullish longer timeframeHi there,
For now I'm still bullish on the dxy, look for a sharp move on the price action to the upside in lower timeframes, and join the wave.
Good luck
DXY to new LOWsOn the Weekly chart, DXY is nearly touching the old low of 89.200 potentially reaching a historical low of 88.250. In this chart, the DXY beautifully rejected from the 78.6% level on the fib, creating a strong momentum to the downside. I expect to reach new lows as inflation in the US is still rising and the FED policy has not yet been changed. We should look on the EU and GU but also at the other dollar related FX pairs for future upward movements.
What do you think DXY is going to do?
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THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. USE RISK MANAGEMENT AND STOP LOSS.
DXY Weekly ForecastDXY Weekly Forecast
- look for upside towards 90.500 or higher
- then high potential will go one more down to break 90.000 towards 89.900 or below
