Is DXY about to pump to 105.??Based on the daily chart, I'm expecting a correction to 105 before bearish continuation. If 105 does not hold then we like will see dollar getting strong, so that leaves a question of whats gonna happen to pairs trading against the dollar?? but I am expecting 105 to hold, then from then bearish continuation to complete wave 5 since if 105 holds then our wave 4 will be around that price.
In summary:
Pump to 105 is expected.
105 breaks then expect 108.
105 holds then expect further drop on DXY till new Lows below 100.
Dxyindex
DXY Index Can Go Up by Classical Technical Analysis Pattern🚀🏃♂️The DXY Index is moving in the 🟢 Support zone($102.87-$102.43) 🟢.
📈 Regarding Classical Technical Analysis , the dollar index has successfully formed an Inverse Head and Shoulders pattern .
🌊According to the theory of Elliott waves , the dollar index has completed a Zigzag correction(ABC/5-3-5) in the 🟢 Support zone($102.87-$102.43) 🟢.
🔔I expect the DXY Index to rise to at least the 61.8% Fibonacci level and Resistance lines .
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-hour time frame⏰.
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📈💰 DXY Review on TradingView 💰📈📈💰 DXY Review on TradingView 💰📈
DXY has sparked excitement with its recent buy-side imbalance, signaling potential trading opportunities for savvy investors. 🚀 With fluctuations occurring in lower time frames, traders are eyeing targets as mentioned in the chart. 🎯 This surge in activity has traders buzzing, eagerly anticipating potential gains. 📈💸 Dive into DXY on TradingView and seize the moment! 🔍📊 #Trading #Forex #Opportunity #ProfitPotential 🌟
DXY (U.S. Dollar Index): Potential Upside Breakout on 4-Hour 📈The DXY has completed a target of a previously identified channel pattern on the 4-hour timeframe.
A double bottom formation has emerged near the channel's support level.
➡️Analysis:
A retest of the double bottom's neckline (around 103.318) is anticipated.
A bullish breakout scenario is developing, with a potential upside move towards the target at 104.992 if support holds at the retest area.
➡️Key Levels:
Support: Double bottom neckline (103.318)
Resistance: Former channel resistance (104.992)
➡️Overall Bias:
Bullish based on the double bottom formation and potential breakout from the channel pattern.
DXY Setup To Fall Further As Bitcoin Rally's Past New HighsWith the recent Bitcoin rally avove new highs and currently over $72k, the DXY is also showing further weakness on this chart.
This signals the BTC rally will continue and I believe straight to $80 if not $100k before the halving.
See my other sudies on 'The Path to $100k - $155k Bitcoin' for reasons why this is in play.
DXY Index will Go Down to next Support zone✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴.
🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢.
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks .
🔔After breaking the 🟢 Support zone($104.30-$103.89) 🟢, I expect the DXY index to continue declining until the next 🟢Support zone($102.86-$102.420)🟢 .
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour 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 gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
DXY Dollar Index Technical Analysis and Trade IdeaThe DXY is currently trading within a well-defined monthly sideways trending range. Price action is testing a key support level, indicating a possible retracement towards previous resistance. A bullish break of the current 1D/4H downtrend, followed by a retest and failure of the range, could present a potential buying opportunity.
Disclaimer: This analysis provides a technical perspective and should not be interpreted as direct financial advice. Trading in commodities involves significant risk. Before making any investment decisions, please consult with a qualified financial professional and thoroughly assess your own risk tolerance.
DXY Weekly Analysis "The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559.
However, reaching 99.559 might face resistance due to a "shield area," which could potentially cause the DXY to struggle on the downside. It's possible we'll witness the DXY lingering around the red shaded area at 101.910 for a while. If the price breaks below this level swiftly with large downward candles, we anticipate further downward movement towards 99.559. Otherwise, if it fails to break below 101.910, we'll provide an update accordingly."
DXY Monthly Analysis 04 March 2024Monthly: The price has been rejected and closed bellow, from the M-IRL. Now we can anticipate that the price will go down towards M-ERL 100.617.
Monthly Bias: Bearish.
Daily: In daily chart, the price has formed a Bearish Breaker, after touch the M-IRL. It depicted that its a clear sign of Bearish confirmation in Daily chart. So the price will be going down towards the D-SSL(102.901)
Daily Bias: Bearish
DXY- Pressing and pressing for a down breakLast week was relatively quiet for TVC:DXY , with the price fluctuating within the support and resistance range. However, as detailed in a previous analysis, the odds favor a downward break.
The index began the week poorly and is currently trading near confluence support once again. A break at this level, given the prolonged consolidation, is likely to accelerate losses, potentially exposing the 101 support level in the medium term.
DOLLARINDEX REACH DAILY TARGET 103.200 Life happen for you not to you.. those who fail to plan, plan to fail..
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With detailed analysis we have prepared ourselves for success by just preparing for one bag.
DXY drop from 104.000 to 103.300- .200 area. We bagged 200 pips from GOLD
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DXY BEARS COULD RETEST 103.000 I often talk about the power of looking over our trades for those highs and lows over time, not because we can not trade but because we can be dynamic.
Well to put it simply, I am bullish on DXY this year but price failed to break above 105.00 and 104.000 respectively..
Price seem to be unfolding to bring about something beautiful on the chart, this might just be what we need, the world seem to always give us what we ask for, and instead of accepting the continuation of my previous bias, I accept the evolution of my self and for my sake and the world, I am not afraid to share this.
DXY FORECASTMARKET PHASE
TVC:DXY is in a weekly uptrend with a daily timeframe corrective structure taking place.
AREA OF VALUE
We can expect a buildup of liquidity (sell stops, shorts, stop losses) below the Feb 20, 2024 daily swing low. On the 4H timeframe, we are already seeing buying pressure taking place below the Feb 20, 2024 daily swing low.
TRADE
Wait for a violent break and close above the Feb 21, 2024 daily swing high and a pullback into the liquidity zone before going long.
DXY = Watch for info - Pre trading opens soonWatch DXY tonight when pre trading opens.
Rejection from here is possible but the MACD has th eroom to push it over that trend line and to turn it into support if the DXY Bulls decide to try it
If they do, it will be very interesting to see if the Selling pressure takes over again.
A Drop from here would be Good for Crypto......
One thing that Shows that rejection may happen is the increase in GOLD price recently
This is the GOLD USD daily chart and shows money flowing out and into gold.....
This will only happen while Bitcoin is cooling off after 14 months of Rise and it may not yet be finished.
This is the Daily #Bitcoina nd shows it breaking out but questions remain as to how long that may last, Hence the flow into Gold
ALL EYES ON DXY