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Dxyidea

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
CAPITALCOM:DXYLong
by Mihai_Iacob
7
USD- The REAL moment of truth!Since May's 2021 low, the Dollar Index was very bullish and the price has risen around 8%, but more importantly, has broken above 95 zone very important resistance. After this important break, the price consolidated for one and a half months, but the price lacked continuation and, instead, has broken this consolidation to the downside. At this moment we can't say out loud "reversal", but there are a lot of red flags coming with this development. Technically the index is sitting on confluence support now and the trend remains up so far. However, a clear break under this confluence support would be extremely bearish for USD with the confirmation of a false break and more importantly a lower high in place. If this is the case, Dxy can drop and revisit the 90 zone if not even further
CAPITALCOM:DXY
by Mihai_Iacob
1
DXY is pressing higherAfter reaching a high of 97, DXY has started to correct and, after a few days of correction, the index has started to consolidate in a tight 0.5 points range. Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high. My target for the index remains 100, and traders should look for opportunities to sell rallies in EurUsd, GbpUsd, AudUsd and NzdUsd. A drop under 95.80 could mean that the index has further to correct and expose 94.50 very important support. Overall USD is strongly bullish on medium-term and the safest way to play it is to buy it low.
TVC:DXYLong
by Mihai_Iacob
13
U.S. Dollar IndexThe weekly price chart below shows the U.S. Dollar Index printed a bullish candlestick last week, again making its highest weekly closing price in over one year. The price has broken above the level at 12238 which I had identified as key resistance, although the closing price was not high enough to be very confident this resistance has been invalidated. The price is above its levels from 3 and 6 months ago, which shows that a long-term bullish trend in the greenback is present. Generally, these are bullish signs, and are supported by the risk-off market environment being at least somewhat supportive of the greenback. The best strategy in the Forex market over the coming week will probably be to look for trades long of either the USD or the CHF or JPY.
TVC:DXYLong
by SmoothJB