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Dxyidea

DXY CYPHER OR HEAD AND SHOULDERS?DXY: - As it is pulling back after a neckline break, but it also looks like a bias continues to form cypher pattern - If the break up exceeds the neckline (95) then the odds are still bullish with the target returning to area 96 as a potential reversal zone of the formed cypher pattern. - If it is unable to break above and break the low back above the previous low (94.93) then there is a possibility to continue the head and shoulders pattern with the target to area 93. - Looking at the bullish divergence that is formed most likely the dollar index is still bullish
TVC:DXY
by yanuarmanalif
1
DXY POTENTIALLY TO SET BEARISH CYPHERCypher Pattern Rules: - Point B is the Fibonacci retracement of point XA of 0.382 to 0.618 - Point C is an extension of XA of at least 1,272 or between 1,130 - 1,414 - Point D is the Fibonacci retracement of the XC point of 0.782 DXY has the potential to form a similar formation, with point B of 0.32 and point C a little longer at 1.667. DXY also managed to move up to form an uptrend channel after touching this year's low at 88.25 points, if DXY successfully maintains to move in the uptrend channel then there is a possibility that DXY will finish the pattern by touching 99-100. If this happens. The key point is if the DXY slumps and exits the uptrend channel and continues to penetrate 88.25, the failed pattern is formed, meaning that as long as the pattern has not been formed, it will still be a lot of possibilities. But if the pattern is successfully formed until it is finished then it will be very helpful to project the next DXY trend, here the pattern formed is bearish cypher.
TVC:DXY
by yanuarmanalif
Dollar index bouncing nicely off major support!The dollar index is bouncing strongly above major support at 93.39 (Multiple Fibonacci retracement, Fibonacci extension, Horizontal overlap support, bullish price action). The next major level of resistance is at 94.28 (61.8% Fibonacci extension, 100% Fibonacci Extension, Horizontal overlap resistance). The next major level of support is at 92.26 (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) is bouncing nicely off our 2.8% support and has good upside potential. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by Tickmill