DXY Chart Analysis....
DOLLAR INDEX MY VIEW-
N.B- In this situation DXY chart create Bullish Flag Pattern's breakout @104.360.
resistance level, then market Buy UP to 105:000; @ 105.500 and 106:000 resistance level.
Then market need seems sell correction to nearest Support 105.500 level.
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Dxyidea
DXY INDEX Next Move Before CPI Pair : DXY Index
Description :
Bearish Channel as a Corrective Pattern and Rejecting from the Upper Trend Line #UTL
Double Top Pattern in Short Term
RSI Divergence
EMAs Crossing Each other and Indicating us the Sell in Short Time Frame
Break of Structure and Making its Retracement
Completed " 13245 " Impulsive Wave and Making " a " Corrective Wave
DXY is set for a rise!Currency Pair : DXY
Possible direction : Bullish
Technical Analysis : After market opening DXY has broken out the resistance with strong liquidity grab from the strong support zone. it is highly likely price will continue to rise as long term trend is bullish and we have seen multiple liquidity grab along the way
Possible trade recommendation : Bullish as per chart sketch
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Dollar Index Chart Analysis....
In this situation DXY chart create Bullish Flag Pattern.So,If breakout @103.777
resistance level, then market Buy UP to 103:999 ; @ 104.720 and 105:600 resistance level.
Then market need seems sell correction to nearest Support 104.950 level.
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad.
Dollar Index (DXY) still in uptrendsAccording to the DXY market chart, the uptrend continues, as it has since 1981. According to the GDP growth data of 1980 to 1982. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -8.0%.24 Unemployment rose to 10.8% in November and December 1982. It was above 10% for 10 months.
From 2020 to 2022, the GDP was negative for four of the eleven quarters. Q4 of 2022 is pending, but the overall GDP situation is the same; the rate hikes are higher to combat inflation. In 2020, unemployment during the COVID period was 14%, but overall after COVID, it was around 3.7%.
The market structure of DXY says the recent decline of DXY is a market uptrend signal. The support level is from December 1981 and the resistance is the same as in August 1981.
DXY set for big drop!DXY is in long term down trend. Currently price has broken out of the local resistance and grab strong liquidity and started to drop again giving us potential for further drop as the price has grabbed liquidity, highly likely DXY will continue to drop towards it's long term down trend
On the retest, of the resistance, a sell trade is high probable.
🔴 DXY - 3D (28.09.2022)🔴 DXY - USD Currency Index
TF: 3D
Side: Short
Pattern: Ascending Broadening Wedge
SL: $118 - $120
TP 1: $109.831
TP 2: $106.926
TP 3: $104.578
The ascending broadening wedge is a chart pattern that tends to disappear in a bear market.
Most often, you'll find them in a bull market with a downward breakout.
Monthly RSI is at 94 indicating oversold.
Investigating the dollar index in the 4H time frame using ElliotIn my opinion, the dollar index has completed a complete 5-wave in the daily time frame.
We are currently in the ABC correction.
Wave A is complete. Wave B ended with 3 moves.
Wave C consists of 5 waves. In my opinion, now wave 3 out of 5 is completed and we have to wait for the beginning of wave 4 out of 5.
Wave 4 consists of 3 big movements.
In my opinion, Wave 4 can behave as shown, and if there is a change in my opinion, I will definitely update this analysis.
DXY AFTER CPI AND PPI US RELEASEHELLO DEAR TRADERS
I think we have currently created a short-term bottom on DXY and we need to go retest the zone of interest
US PPI release yesterday was lower than expected and these numbers did not help us at all. Dollar takes another hit.
We will see how the FED reacts in mid-December to the positive feedback from the economy due to the increase in interest rates
The current one-time declaration of inflation numbers smaller than expected does not seem to me to be enough for the dollar to change its current trend. I haven't seen a single statement from the FED that they currently plan to ease the monetary policy of aggressively raising rates. If this opinion is still in their statements in December, despite the current numbers, I think we will go lower again on the equity markets. Do not forget that November and December may once again be the months when inflation shows that it is not yet at its peak. People spend a lot on Christmas
DXY Global Vision (Elliott Waves Analysis) TIME TO FALL Hello friends.
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Everything on the chart.
The dollar index seems to have gone to work out the divers on the weekly TF and form a long-term correction.
Within wave (A), the decline in the index perfectly harmonizes with the market "seasonality" and there is a potential for the index to decline, which means that the markets will grow ~ until spring 2023.
A decrease in the $ index means that the value of $ is declining and investors will try to find a safer place for their capital, that is, shift the currency into any other assets, whether it be gold, stocks or bitcoin.
Of course, the true extremum points can only be clearly identified after the fact, so I would not flatter myself with the rapid vertical growth of markets from the current ones, but the general trend and action plan from my point of view looks exactly like this.
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