DXY Analysis 17Aug2023Although in the past month the dollar index looks bullish, I am still under analysis that it is likely that there will still be a bearish / maybe a deep correction for the near time.
Dxyforecaste
DXY may have reversed!!Currency Pair : DXY
Possible direction : Bullish
Technical Analysis : Price just has opened with gap and slowly turning into a bullish market after forming a middle man in the previous session. From monthly price has just bounced from the monthly support zone.
Fundamental : Positive ADP Non-Farm Employment change data has given a strong boost on USD
Possible trade recommendation : Bearish as per chart sketch
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DXY SHORTdxy short , poc below in the range rejection from top, imbalance,
where is the fair value anyone knows?
DXY possible drop!!DXY ( 4h) has broken the support to the downside and opened with a gap down today. The price is just below daily support and 20EMA. As there is head and shoulder on the daily, There is a possibility of dropping the price to the downside to monthly support. As the monthly candle close, we could drastically drop as per price action formation.
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DXY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
DXY - DOLLAR INDEX FORMING A BAT PATTERN - DXY is currently forming a BAT PATTERN.
- If you BREAK the DXY DOWNSIDE CHANNEL TREND LINE you can definitely COMPLETE the BAT PATTERN.
- If the DXY price falls below 95.00 LEVELS the BAT PATTERN will be INVALID and it will change to the SHARK PATTERN. If so we will UPDATE
- DXY BREAKOUT is very important for USD CROSS PAIRS.
- Up to DXY 97.27 can be UP if the BAT PATTERN is COMPLETE. So stay tuned for MARKET UPDATES.
Wave ending with expanded diagonal (DXY)Hi, Traders
Dollar index is going in correction because this is end of 3rd wave. Possible correction will be between these ratio 21.40% t0 38.20%
lets see how it goes!
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
