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DXY Dollar Index Technical Analysis - Where Is The USD Heading?DXY Analysis: The Dollar Index (DXY) has exhibited range-bound behavior recently, lacking a clear directional bias. While there are bearish undertones, a confirmed downtrend requires a break below the current range followed by a failed retest. This video explores multiple timeframes (monthly, weekly, daily, 4-hour) to identify potential dollar direction in the coming days and week. Given the key role of the dollar in shaping currency markets, its trading action significantly impacts opportunities in other pairs. However, with the current sideways movement, identifying high-probability trades could be challenging, especially considering the increased risk associated with end-of-week volatility and potential stop-hunting activity. Disclaimer: This analysis is solely for educational purposes and should not be considered financial advice.
TVC:DXY
by fxtraderanthony
DXY (Dollar Index) Longs from 102.200 back upThe dollar index is presently responding to my 14hr supply zone, leading to a visible bearish reaction. Given that this supply is part of a 2-day supply, I anticipate price to move upward to further mitigate this supply, potentially triggering a more stronger bearish response. With the breakout from consolidation, I anticipate clearer price action. I will be monitoring for price to reach a 10hr demand zone that has previously resulted in a BOS on the higher timeframe. Upon reaching this point of interest (POI), I will then be on the lookout for an accumulation to unfold. Confluences for Dollar buys are as follows. - Market trend is overall bullish on the higher timeframe - Price has broken structure to the upside on the HTF. - Price is currently reacting off a supply to trigger the pullback towards our demand - Theres lots of liquidity and imbalances that need to get taken above as well. - 10hr demand zone lies within the 0.78 fib range and it caused the BOS to happen P.S. While I don't engage in direct trading of the dollar, I utilise it for confluence, especially since this pair significantly impacts the others I monitor. There's a possibility of a short-lived bullish trend if the 2-day supply zone doesn't hold. However, given the initial reaction, a downward movement seems likely. HAVE A GREAT TRADING WEEK AHEAD, LET'S CATCH THESE PIPS!
CAPITALCOM:DXYLong
by Hassan_fx
DXY Technical Analysis and Trade IdeaThe DXY has exhibited a prolonged period of consolidation, while the higher time frame reveals a robust downtrend. In the video analysis, we observe notable price action, identifying a triple top with a spike above, potentially indicative of a stop run, suggesting the likelihood of continued downward movement. Additionally, the video explores the prospect of a break below the current range low, followed by a retest and subsequent failure, presenting a potential selling opportunity. It is crucial to emphasize that the information provided herein is not intended as financial advice.
TVC:DXYShort
by fxtraderanthony
DXY Dollar Index Technical Analysis and Trade IdeaIn this video, we take a close look at the Dollar Index (DXY) on higher timeframes to assess the prevailing bullish momentum and its potential implications for traders. We'll delve into market structure, price action, and explore a potential trade setup. Important Disclaimer: The information presented here is for educational purposes only and should not be construed as financial advice. Trading carries inherent risk, and proper risk management is essential. Capital preservation remains paramount.
TVC:DXYLong
by fxtraderanthony
What should we expect from DXY Index by the end of 2023❗️❓🗺️👋Hi everyone (Reading time less than 3 minutes⏰) . 📚One of the most important Indices that we should have an analysis of is the DXY index because it has a direct impact on the Forex , Cryptocurrency , and stock and etc markets. So, in this post, I'm going to show you the 🗺️ Roadmap 🗺️ for DXY until at least the End of 2023 and Early 2024 . 💡I used the Monthly time frame and Elliott wave theory to display the DXY index roadmap better. 💡First of all, it is better to know that the DXY index has formed an Ascending Channel since 2008 and is moving in it. 🌊According to the theory of Elliott waves , the DXY index has succeeded in completing its 5 impulsive waves in the ascending channel so that the 3rd wave was an extended wave . 🌊As a result, it seems that Corrective waves have started, and to confirm this, it is better to wait for the break of the lower line of the ascending channel. 🔔I expect the DXY to move between 🔴Heavy Resistance zone($107.62-$103.10)🔴 and 🟢Support zone($101.64-$99.58)🟢 by the end of 2023 and early 2024, and in mid-2024 , the DXY will begin to trend Down , and Financial markets will likely turn 🚀Green🚀 . DXY Index Analyze ( DXYUSD ), Monthly time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXY
by pejman_zwin
7
DXY Shorts from 102.400 Down towards 101.000The DXY forecast remains bearish in my view; however, there is a notable strong bullish retracement occurring. I perceive this retracement as temporary, as the price is retracing back to a premium supply level. I anticipate a distribution to take place in either the 1-hour supply zone I've identified or... Alternatively, if the price continues to climb higher, fully mitigating the imbalance, it may enter my preferred 14-hour supply zone, which previously caused a break of structure to the downside. Should the price decline without touching these two zones, I will then be on the lookout for a buying opportunity around 101.000. Confluences for DXY dollar sells are as follows: - Dollar is temporarily bearish due to the break of structures on the higher timeframe. - Currently price has reacted off a demand so I can expect bullish pressure to get exhausted. - Price is slowing down foreshadowing a potential wyckoff distribution to play out. - Lots of liquidity still left below in the form trend line liquidity and major imbalances. - Candlestick anatomy shows that price might have a bearish drop as its mitigated an imbalance above partially P.S. While my current stance is bearish in the market, this minor bullish retracement appears temporary, and I anticipate the price to resume its downward trajectory. However, considering the presence of numerous imbalances, I prefer to observe price movements before deciding on my course of action. Have a great trading week ahead guys!
CAPITALCOM:DXYLong
by Hassan_fx
1
DXY (Dollar) Shorts from 101.300 or 102.000My outlook for the dollar remains bearish, but it's currently in a bullish retracement phase triggered by the reaction at my identified 17hr demand (POI) from last week. I anticipate price to continue its upward movement to eventually reach a premium level. In this scenario, I'll be looking for selling opportunities around the 4hr supply zone or the 14hr supply at the top. While the 4hr supply is still a possibility, it's not the optimal choice for sells due to its location within a trend line that I anticipate being taken out. Instead, I foresee a reaction at the 14hr supply, located within the 0.786 Fibonacci range and having caused a break of structure. Therefore, I'll be patiently waiting for some form of distribution to unfold once the bullish pressure is exhausted. Confluences for DXY dollar sells are as follows: - Dollar is temporarily bearish due to the break of structures on the higher timeframe. - Currently price has reacted off a demand so I can expect bullish pressure to get exhausted. - Price is slowing down foreshadowing a potential wyckoff distribution to play out. - Lots of liquidity still left below in the form of equal lows and trend line liquidity. P.S. Although I am currently bearish on the market, my overall sentiment is bullish. The recent reaction off the 17hr demand might spark an upward rally. Additionally, there's a 9hr demand zone where I anticipate another bullish reaction. HAPPY NEW YEARS TO ALL OF YOU AND HOPE THIS YEAR BRING EVERYONE PROFITABILITY AND CONSISTENCY. LETS CATCH THESE PIPS!
CAPITALCOM:DXYShort
by Hassan_fx
DXY (Dollar index) Shorts down to 102.500While the overall trend for the dollar remains bullish, recent weeks have witnessed a notable increase in downward movement. This suggests a potential continuation of the bearish patterns, prompting me to seek pro-trend trades aligned with this recent bias. Notably, with the price already having mitigated a supply zone, an anticipated drop towards the target of 102.500 seems likely. The formation of Wyckoff accumulation signals a possible breakdown to surpass Asian lows. Additionally, considering that the price has left a demand zone at the projected target, we can expect a potential reaction in this zone. This reaction could potentially lead to the creation of new highs and a temporary bullish trend. Confluences for DXY Sells are as follows: - Dollar has tapped into a 17hr supply zone that has caused a BOS to the downside. - Theres liquidity to the downside in the form of Asian low and trendline liquidity. - Recent trend for this market has been temporarily bearish so this is a pro trend trade. - If price wants to continue going higher, there are unmitigated demand zones that price needs to come and fill. P.S Although the price has established a new bearish trend, it's possible that this is a strategic move to eliminate the trendline liquidity lingering from previous bullish rallies. Given the overall bullish sentiment on the higher time frame, it wouldn't be unexpected to witness the dollar initiating a new trend to achieve fresh highs.
CAPITALCOM:DXYShort
by Hassan_fx
1
DXY (Dollar$) Shorts down to 101.500The bias for the dollar this week remains bearish, leading me to anticipate further downward trends. Near the current price, there is a supply zone on the 3-hour chart where we'll wait for price redistribution. Following that, we'll await confirmation on a lower timeframe to execute the sell trade. Additionally, I anticipate a minor reaction from the 13-hour demand zone, presenting potential small buying opportunities. Subsequently, we anticipate the price to continue its descent and then respond to a 3-hour demand at 101.500. This is where I expect the price to retrace upwards, providing a more favourable opportunity for a buy trade. Confluences for DXY Shorts are as follows: - The short term trend currently is bearish (with perpetual BOS's to the downside.) - Trend lines below act as magnets, pulling the price downwards and encouraging a bearish continuation. - To evoke a bullish reaction from the price next, there's a strong demand zone on the 3hr time frame. - A clear 3-hour supply zone sits above the current price, where we can expect a bearish response. - By the candle stick anatomy bearish candles are very strong, holding lots of momentum. P.S. I also observe the potential for the price to rise, targeting a more favourable supply zone like the (7hr) to initiate a robust bearish movement. Despite the strong bearish trend currently, we will primarily seek opportunities aligning with the trend. However, the next viable counter-trend trade would be at the 3-hour demand level around 101.500.
CAPITALCOM:DXYShort
by Hassan_fx
1
DXY → Extra losses look likely below 104.00TVC:DXY attempts a mild recovery to the 104.30/40 band after bottoming out just below the 104.00 support earlier in the session on Wednesday. The breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.60 prior to the weekly low of 102.96 (August 30). In the meantime, while above the key 200-day SMA, today at 103.60, the outlook for the index is expected to remain constructive.
TVC:DXYShort
by tradingconmike