Dxyidea
A stronger Dollar isn't out of the questionThe Dollar index is something I've been grappling with for a while now. I bought into the narrative of a weaker dollar index particularly in light of the mass printing of money by the FED. Surely inflation must be a consequence of the monetary policies that we are seeing...?
It just makes so much sense that we see a cheaper Dollar. But the macro people disagree and their arguments are plausible and so i pay attention.
The biggest dilemma that i buy into with regards to a stronger Dollar index is the weaponisation of the US Dollar. Why would the US let their supremacy decline without a fight? Policy shock in the Dollar perhaps the biggest risk to countries around the world.
My base case is for a weaker Dollar over the next 5 years, however, its not out of the question for the Dollar to strengthen should policy shift.
The DeMarker indicator suggest that the Dollar Index should weaken over the short-term but lets see.
Very tricky....
Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
DXY WITH H & S DXY IS SHOWING US A HARMONIC PATTERN H & S
if it break the support zone then it can drop till given level
Sell after confirmation fundamentally Dxy is showing us this is a strong support zone
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DXY - FallingI think we will continue to fall!
What do you think?
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P.S. I personally will open entry if the price will show it according to my strategy.
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DXY STILL BEARISH As i can see DXY is still showing weakness and we expected more legs down till design new levels
we are selling DXY with a small risk and looking for higher rewards
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US dollar is still bearish hello traders ,
Welcome to my price forecast of US dollar index .
us dollar is still in bearish scenario.
as you see there is Ascending broadening wedge pattern, most likely it break downside .
and our target is at major support 88.25.
I have many ways to enter into market and one of them is after channel break.
Thanks for Watching my idea, have a green day ..
DXY's Elliott wave 1 hour analysis of 5th wave (last leg down)if my count is correct, we are in the last leg down with in this small degree count of the larger picture.
wish you all the best.
DXY- To continue its correctionAs I expected, DXY broke above short term wedge resistance and reached my first target.
Now the index looks determined to continue its upward correction and 92 could be the target for such a correction.
In my opinion rallies in EurUsd, NzdUsd, AudUsd should be sold, and also a buy trade for UsdCad could be a good choice
DXY is bottomingWhat is clear is that USD is weak but also is clear that the market can't be unidirectional indefinitely.
Usd counterparts started the year strong but the new highs (and new lows for the index) are marginal and lacking power. So far all that USD could do was to have some intraday correction and I think this is about to change and we will have a lasting correction.
That being said I will look for opportunities of buying USD and my preferred pairs are EurUsd, AudUsd and NzdUsd for short and UsdJpy&UsdCad for long trades
DXY- Correction underway?A great volatility day for USD Index yesterday and, after opening with a gap up, the index fell in the afternoon and from a technical point of view, just filled the gap.
Now it seems like we have a strong base on 90 and slightly under and I expect a correction to follow.
Pairs that I have in focus for selling are EurUsd, NzdUsd and AudUsd
DXY- USD shows no life at allLast week I said that I expect a new low from USD Index and my opinion doesn't change.
After a short-lived rebound from 90.60 support, DXY opened last night with a gap and dropped again, not being able at least to close the hole gap.
This tells me that a break under the support area could be just around the corner and DXY can have a new leg down even under 90 psychological support.
Under these conditions, EurUsd is my first choice to buy.
DXY- Double bottom on H1, correction underway?As I correctly anticipated, DXY broke under 92 important support and that lead to a 1.5% loss for the index, a strong break above 1.2 for EurUsd and GbpUsd reaching 1.35.
Now the index found support in 90.50 area and has formed a small double bottom visible on H1 chart. The neckline of the pattern is broken and we can expect a correction to 91.50 zone resistance.
I will look to sell rallies for EurUsd, GbpUsd, AudUsd and NzdUsd in this context.
DXY Top-Down Analysis (Key Decision Zone)Hello Traders,
Here is the Top-Down Analysis of DXY for
Week 50 - Dec 07
M > Price has dropped beyond monthly support and is approaching wide monthly demand zone.
W > Placing Fib on last major bearish support (June - August 2020) we can see that price has just tested -0.272 level, if price fails to recover it can continue to drop till -0.618 level which also coincides with next monthly support. If current break of monthly support does not turn to be a false breakout and DXY fails to recover this week, we will have a bigger fall to next support facing much wider demand zone to deal with.
D > Last daily candle ended in a Doji showing some sign of rejection but this is just not enough to expect a reversal. We have been seeing bullish divergence for sometime now price is continuing to defy the over sold state.
As per COT DXY added both Long and Short, further reducing net positions (still in -ve). DXY weakened during the said period and it further weakened last week.
4H > Price has created double bottom at -0.272 Fib level and has ended the week on positive upward move.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
DXY Lacks powerFor now, DXY is trading above 92 important support, and although this is an important support USD looks very weak overall.
The price seems to press on this support and we can assist a break soon.
That being said USD is bearish on medium-term and only a break and sustained buying power above 93 would shift things in bulls favor.
DXY buyDXY buy
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I would also be glad to see your comments under the idea, what do you think about this?
