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Dxyidea

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
DXY- A lot of bullish confirmationsSince 10th November, DXY has become strongly bullish with the index breaking above VERY IMPORTANT 94.60 resistance. If we look at a longer daily chart we can easily see that at this moment we have a major shift of trend and DXY has a lot of bullish confirmations, starting with this break, but also with a double bottom in 90 zone and, after the second bottom in June, a lot of higher lows and a major rounded bottom break. I expect USD to remain strong for the rest of the year and 94.60 is now strong support Rallies in EurUsd, GbpUsd, AudUsd and NzdUsd should be sold
TVC:DXYLong
by Mihai_Iacob
26
DXY (dollar index) analysisI believe the US dollar is still very bullish. This drop it has been experiencing, I believe is a retracement. I Expect price to drop as far as the support and I will be looking for opportunities to go long in the golden zone of the Fibonacci tool. This outlook on the DXY matches very well with my analysis of the EURUSD. I believe EU is still very bearish, and a bullish retracement is expected. *Disclaimer* This is not financial advice. Trade at your own risk.
INDEX:DXYLong
by Magnatrio
DXY theoryMy first Idea, a theory as advertised..do with it as you will. higher time frame shows price action in the process of the left shoulder of head and shoulders pattern(as every short idea will let you know but can be seen on daily chart) . once price breaks out of wedge the short term direction will be clear(although more room for the downside than upside).. if miracles happen and it completes the head and shoulders with the explosion of price(bearish) means a long position on quite a few forex pairs and commodities would be favourable. naturally the way you play this depends on your strategy, if you are cautious and reactive wait for the scenario to play out then make your move(bearish price movement below wedge should peak your interest) or predictive/pro-active if you are feeling risky and getting in/off of left shoulders is your thing then do it. im posting this on a friday so i expect some dollar bullishness when the market closes as i am currently seeing that while typing this, so wallstreet and market makers can give themselves hi 5s and pats on the back whilst chanting in unison "U.S.A!" for as they enter the weekend so they can enjoy their weekends as mortals do before they turn back into sharks when the market opens. some additional info if you need it would be wise to use dxy as a confirmation for your trades, if you love trading gold as I do..if the dollar is weak then buying gold is a sure fire way to gain some net(profits). dollar strength or weakness makes many pairs strong or weak regardless of whether the usd is used in the trade or not due to America being a greater influence on the world other than their currency being the biggest baddie in the entire prison. if you are purely a technical trader then analyzing the dollar would be closest you get to fundamentals as possible, if you have some favourite forex pairs take some time to see how it reacts to the price action of the dollar. the most notable pairs that i take note of is gbpusd,usdjpy and usdcad as they love moving with the dollar .
TVC:DXYShort
by RyanYoung87