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DXY 200 points run has completed 92.75 to 94.75DXY After the 200 point run from 92.75 to 94.75 its gave back some of the earlier gains. And reached 94.16 today. And reached the downside trend line which is drawn from September 09 low 92.70 We have observed that DXY tend to move from 92.75 93.75 94.75 levels in upcoming days will update about the market reaction from this levels After reaching the 50% Fibonacci retracement level its started to slowing down. I think today bearish run is a short term correction. If the trend line got broken then the downside target would be 94.00 comes around 61.8% Fibonacci level and key psychological level. 94.00 is acted as resistance for DXY Since July 28 and the level is broken on 22 September and stayed above this level If the DXY is remain well above 94.00 means the bull is still have a major control here. Negative risk sentiment causes USD,JPY to rise thus DXY got some major boost and in recent days the equity markets around the world seen some kind of September selloff. The investors remain worrying about second wave of COVID-19 infections and the Possibilities of No deal BREXIT and the upcoming United states of America presidential election Today weak momentum in USD is caused by the relative strength of GBP and CAD though its contributed meager amount in basket of currencies against greenback. Today XTIUSD also got some major bid as tits traded well above the 40.00 level. And the equities are starting the week with solid gains thus its makes the USD less attractive Currently DXY is trading below the 50 Exponential moving average and above 100,200 EMA On Elliot wave theory The minor waves are completed from 92.75 to 94.75 and currently its forming a minor ABC correction waves. After the completion of c wave we can expect another 1-5 wave formation DXY has reached the lower region of the Bollinger bands and we can expect minor rebound from this level. If the price got some major rejection around 94.60 then it will form a clear Head and shoulder pattern and selloff will happen RSI has reached oversold area and showing some signs of rebound towards 50 Give us a thumbs up if u like our work and do follow us
TVC:DXYLong
by forexorbit
18
U.S. DOLLAR CURRENCY INDEX LONG UNLESS WE GO INTO A RECESSION LIVE MARKETS U.S.-Durable goods rebound at end of what was likely a historically bad quarter * Major stock indexes gain, Nasdaq in the lead * Materials, tech biggest gainers among S&P sectors; Utilities lag * Gold higher; crude, dollar down; US 10Y Treasury yield ~0.59% NE… DROP A COMMENT, LIKE. OR FOLLOW IF THIS HELPED, FEEDBACK IS ALWATS APPRECIATED TITLE/DATE BUY DXY/USD ASSET forex/ dollar (dxy) Platform-MT4 ENTRY 1 93.48✅ (market execution) ENTRY 2 92.28 buy limit order SL 91.98 TAKE PROFIT 1 $94.58 TAKE PROFIT 2 95.58 TAKE PROFIT 3 96.58 TAKE PROFIT 4 97.58 TAKE PROFIT 5 98.58 status- entry 1 active
TVC:DXYLong
by MavRich_Trading
Long $DXY Analysis Hello Sophisticated Trader, The $DXY has finally broken above the 97.00 resistance and the 100 MA on the 4hr, this is indicating a possible move up for the bull for another test of 98.00 and possible 99.00. This is extremely helpful when trading, as the dollar index has become the main market driver. In addition, the renewed coronavirus fear most likely have an impact and support the DXY over the coming week. Like, Comment, and Follow. Let's Make Money Together! Happy Trading! Dr. Lydia Smith Where we teach you what you need to know about trading.
TVC:DXYLong
by DrLydia
DXY Weak? Monthly Chart shows the oppositeWe are at the moment on a major DXY sell off, It might look like it will continue to crash, but monthly chart shows a different story, we are just at Wave D, with Wave E being final rally for Dxy to 110 area, until the moment Dxy respected the trendline, support at 96.40 will decide the continuation of uptrend of break to the downtrend. This is pure technical analysis but some other major factors such as stocks being in uptrend for months now also can support this since they move opposite, and we can probably see another sell off at stocks on a next liquidation phase.
TVC:DXYShort
by fernandoc17
What is DXY doing and why it matters?Technical Analysis: * Price is above 200EMA and above both 14&21EMA, and are acting as support. * RSI is above 55, indicating good buyer strength. * RSI has broken the downward trend line and is retesting that trend line. Trade Idea: To be a good and comprehensive trader, its always a good practice to check correlations of other forex pairs and indices so as to get that extra confirmation and confidence on your trade analysis. So, in this post, I will be demonstrating how the Dollar Index is expected to move in the coming weeks or even days so every trader knows what to look out for. DXY is currently in a range bound market. As of now, we can see the 200EMA in combination with 14&21EMA are both acting as support, so with favourable price action, I am expecting one more leg up from the dollar index to the yellow trend line before reversing back down to the recent major support zone. As extra confirmation, the RSI has also broken the downward trend line and is bouncing off that trend line, indicating that buyers are most likely to gain more strength than sellers, hence will likely push the index higher in the coming days. Overall, DXY is expected to be bullish at least for this week. So, traders who are holding major pairs such as EURUSD, GBPUSD, USDJPY, USDCAD, USDCHF, AUDUSD, NZDUSD should pay close attention to this. #tradesafe
TVC:DXY
by JKFXTrading
DXY Price Outlook: $USD Reversal ThreatensThe Dollar weakened against every single G10 currency on Thursday after terrible US economic data fuelled concerns over the health of the largest economy in the world. The US Dollar has been making sharp moves as the only market trading in the green in the current economic crisis. On the US Dollar Index ( DXY ), the greenback has been living up to its name by making steady gains since the 9th of March, rising from below 95 points to above 101, the highest it has been since 2017. This gain in the USD has been due to the fact that investors are now pulling out of other markets due to their extreme volatility , and withdrawing it back to liquid cash. The global economic uncertainty has caused the markets to fall with no bottom in sight. The Trump administration recently announced a stimulus plan of $1 trillion, the largest of any country, as a response to the current chaos in the markets. As part of this plan, the government said they were talking about sending cheques of up to $2000 per month in order to offset loss of income, as well as being able to defer up to $1 million in income taxes. Nearly 3.3 million Americans applied for unemployment benefits last week which was more than triple the previous record set in 1982 amid the widespread economic shutdown caused by the pandemic. These figures are certainly a shocking reflecting of how badly the coronavirus has hit theeconomy with the pace of layoffs expected to jump as the United States sinks into a recession. Dollar weakness could become a short term theme if economic data continues to paint a gloomy picture, despite the efforts of the Federal Reserve and Senate to promote stability. Looking at the technical picture, the Dollar Index is under intense pressure on the daily charts with prices trading around 99.90. A solid daily close below this level could open a path towards 99.00
TVC:DXY
by cyrex