Dxyidea
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.
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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.
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I would also be glad to see your comments under the idea, what do you think about this?
Dollar Index- To see range trading92 zone proved to be strong support for DXY and last week the price turned from this zone putting in a nice bullish engulfing from here.
The price corrected the recent up move and now looks ready to challenge the range resistance at around 94.
In this context i will look for selling opportunities in EurUsd, AudUsd, NzdUsd and GbpUsd
Dollar updated chartDollar ABC correction wave from main trend, + B wave completed from upside trend, I dont see dollar bearish in any form
DXY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of DXY (Monthly, Weekly, Daily for direction) for
Week 45 - 02 Nov
M > Price dropped till monthly support, faced rejection and started bullish move. After a huge bearish dump we expect price to retrace for correction till at least 0.382 Fib level on month bearish impulse. Price is yet to reach this level. We can also an M formation, its neck coincides with 0.5 Fib level on monthly bearish impulse.
W > After rejection from monthly support price moved up till 0.5 Fib level on weekly bearish impulse and dropped again and faced rejection at weekly support. If we switch to line chart we can see a W formation.
D > With its current rise price has broken daily support as well was downward resistance trend-line.
As per COT DXY saw addition of both Long and Short positions, bettering net positions (though still in -ve). DXY was weak during the said week however it gained strength last week. In past few weeks DXY has improved its net positions, from -9K to -1.2K now. We can expect further strengthening of DXY.
4H > We get lot of clarity in 4H timeframe. We can see price dropping to test neck of W formation that we saw in W chart. We can also see price stopping for a pull back after breaking the downward resistance trend-line. During the pull back price has tested the trend-line as support before continuing with upward move. Market closed with price retracing to test resistance as support.
We can now expect price to continue with its bullish move to test 0.5 Fib level again on W chart. If price manages to break this target to the upside then we will have monthly 0.382 Fib level as next target.
Hence can expect all USD pairs, Gold and Silver to weaken.
Thank You
AP17FX
DXY- To break or not to break?To break is my opinion...
As I said in my previous analyzes, I'm bullish DXY.
The index has clear support above 92 and at this moment is trading just in trend line resistance. I believe this resistance will give up and will see an upwards acceleration for DXY.
My target is 96 with interim resistance just under 95
Usd should be bought on corrections against its counterparts
DXY- Waiting for bullish confirmationI'm bullish USD on medium-term, and the price action for Usd Index comes to confirm my outlook.
92-92.50 zone is extremely strong support for the index and now we have a false break under the previous low which gives me reasons to expect higher prices.
A clear confirmation for bulls comes with a break of the down trend-line and, as I said in past occasions, DXY could reach 96 resistance
Scary Falling Wedge at Dollar Monthly timeframeAll fundamental news, Corona virus increasing massive across europe, how market is behaving lately, and all technical are setting up for one of the biggest recessions in history to happen, and we can see this at the dollar chart which is a clear falling wedge at my view, preparing for a massive move, we need patience, but it will happen, elections might trigger this move
DXY (USINDEX) buying from Support Level !!!!DXY is ready to fly now @ a string support zone we are expecting more upside move till it achieve our tp
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DXY ANALYSIS👁 TVC:DXY ANALYSIS D1
🛒BUY above = 93.70
🎯Target1 = 94.10
🎯Target2 = 94.70
🛑Stop loss or 🛒SELL BELOW = 93
DXY- more and more bullishTwo days ago I said that Dollar Index is bullish in my opinion and the recent drop is just a correction before a new leg up.
The marked has confirmed this outlook and now the index is above short-term support.
Sell rallies on EurUsd, AudUsd, NzdUsd and GbpUsd is my strategy for next week
DXY- I'm bullish USDYesterday, USD found strength and reversed from 93 zone (DXY)
As long as 93 is intact I expect a new leg up for the index and 96 zone could be the target.
Looking to sell rallies on EurUsd, GbpUsd, AudUsd and NzdUsd
DXY preparing for a rallyDxy just made a correction, preparing for a bigger move to the upside, if we break downside, it will make a lower low to prepare for even a bigger move than expected
Get ready to add buy positions, watch lower timeframes to do it, good luck everyone
THE DXY IS GOIN SIDEWAYS exactly like we anticipated WHAT WOULD HAPPEN ON the DXY for this end of the week, we won't see any big move on the USD pairs until it bounce off the 93,40.
we have to understand that this 93,40 is a very important key level, if it breaks we will see a big move to the downside, and that so we the 93,40 is a strong support level , to break below it , we need to have a very bad news on the dollar $.
US DOLLAR (dxy) to fall to 92.00 region and beyondBased on my Elliot wave count, I started shorting the dollar since 94.70 price region. because it is evident that a new impulse wave as resumed towards the downside.
I am expecting more downpour ahead to a minimum of 92.00.
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