DXY Index New Week MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Impulsive Waves " 12345 " and Corrective Wave " A " Completed. We have Break of Structure with the Retracement , It can Reject from Fibonacci Level - 50.00 / 61.80%. Bearish Channel in Short Time Frame it will Complete its Retracement and will Complete its " B " Corrective Wave
Entry Precautions :
Because of Israel / Palestine War Market can make false move so be careful
Dxyindex
UPDATE EURUSD LONG/SHORT DAILYIn the previous analysis of this currency pair, we expected the price to rise when the downward trend line was broken
that according to the conditions of the dollar index, this currency pair failed to fill the moving step to rise, so we updated the drawn downward trend line
And we specified two scenarios for the price movement, according to the movement of the dollar index, which we examined in its own analysis, we plan our transactions in each of the possible scenarios that occur in the direction of the price movement.
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⚠️DXY will Go Down again⏰(15-Min)⏰⚠️DXY Index is running near the Uptrend line and 🟡 Price Reversal Zone(PRZ) 🟡.
According to the theory of Elliott waves , the DXY index has succeeded in completing its 5 ascending waves near the 🟡 Price Reversal Zone(PRZ) 🟡.
💡Also, we can see Regular Divergence(RD-) between two consecutive peaks.
🔔I expect the DXY Index to trend lower in the coming hours and at least go down to the 🟢 Support zone($106.330_$106.160) 🟢.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 15-minute 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.
$Dollar bears?!TVC:DXY Dollar bears may come into control swiftly if we break down within this channel, reaching the red support zones. However, while we are still within the amber zone, patience.
Whilst analysing the dollar, think of other currency pairs such as £.
Ignoring the outside noise and concentrating on price action is key at this moment in time.
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💸DXY Index💸 will Go Up by Falling Wedge Pattern⏰(1-Hour)⏰✅The DXY Index has completed a Falling Wedge Pattern in the 🟢Heavy Support zone($105.80_$104.530)🟢 and 🟡 Price Reversal Zone(PRZ) 🟡.
💡Also, we can see Regular Divergence(RD+) between two consecutive valleys .
🔔I expect the DXY Index will go UP after breaking the upper line of the Falling Wedge Pattern to the 🔴 Resistance zone 🔴.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-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 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.
The dollar suddenly increased after favorable news for America'sThe Fed has raised interest rates 11 times since March 2022, but inflation remains well above target and U.S. central bank officials are taking more aggressive action than in the past. This is thought to be due to a lack of monetary policy adjustment.
When Federal Reserve officials say their long-term inflation target is 2%, they are referring to the percentage growth in the Core Personal Consumption Expenditures Price Index (Core PCE) compared to the same period last year.
The more popular and often cited inflation figure is the year-over-year growth rate of the Consumer Price Index (CPI).
In fact, from May 2023 to the present, the six-month Treasury yield has been consistently above 5.3% and even above 5.5%. Additionally, approximately $1 trillion has been withdrawn from the reverse repo facility since May.
In other words, the U.S. federal government is pumping trillions of dollars previously siphoned out of the financial system by the Fed back into the economy through bonds with attractive yields.
The higher the yield, the more money flows into the financial system. This is one of the strange phenomena in the fight against inflation. The clearest evidence is that M2 money supply fell to a two-year low in April 2023, then stopped declining and even increased slightly in the following four months. Without a reduction in the money supply, it will be difficult to reduce inflation. The Fed tried to tighten monetary policy by raising interest rates and withdrawing money, while the U.S. government increased debt and injected more money into the economy to cover budget deficits. No matter how strong your hands are, you cannot clap loudly. No matter how hard the Fed tries, it will be difficult to control inflation if monetary policy runs counter to monetary policy.
The dollar fell before the US released inflation dataThe US dollar fell in early European trading on Thursday, hovering near a two-week low ahead of the release of key US inflation data.
At 03:15 ET (07:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 105.377, just above its lowest level in day, the weakest level in two weeks.
DXY NEW MACRO ANALYSISClosing of the day or week below or above this level will determine the DXY movement.
Before this jump in the last analysis, I wrote that divergences were formed and that dxy should now jump.
News along with divergences pushed the price.
If the price keeps this level, the expectation is 108, as was the plan all this time, but we will see what the price shows
DXY still shows no signs of breaking out of the trendlineThere has been little change in the market since the minutes of the Fed's monetary policy meeting were released in September. This highlighted concerns about U.S. economic growth and caused the Fed to become cautious about raising interest rates.
Dallas Fed President Rory Logan and Fed Director Christopher Waller have argued that rising U.S. Treasury yields in recent months could prompt the Fed to hold off on raising interest rates. Waller said on October 11 that higher market interest rates could help the Fed control inflation and allow policymakers to consider whether further rate hikes are necessary.
"Overall, the minutes indicate that Fed officials are increasingly concerned about recession risks to the U.S. economy," said Carl Schamotta, chief market strategist at Kopay in Toronto.
The recent weakness in the US dollar is due to a decline in US Treasury yields, with bond prices rising due to the Fed's "loose" stance on future interest rate hikes. Investors are now awaiting the release of the main inflation report today, October 12th, for further guidance on the future direction of interest rates. Additionally, the market is closely monitoring the conflict between Israel and the Islamic organization Hamas.
Conversely, the euro rose to $1.0634, its highest level since September 25th. Meanwhile, the pound rose to a three-week high of $1.2337.
Dutch central bank board member Klaas Nott said on October 11 that the ECB has made "important progress" in bringing inflation down to its target level, but there is still a long way to go and rules out the possibility of inflation rising. He said he could not. Interest rates may rise further in the future.
DXY I Still have the DXY in the expanded Flat with a top in at $107 which happens to be the fib retracement 50% level of the 5 down wave A.
I expect the momentum indicators to begin to slowly roll over. RSI, Stochastic RSI , OBV , MACD should all confirm the last leg of the down trend wave C which I expect to finish around $94.
At $94 the DXY should complete a very HTF wave 4 and then kick off what is shaping up to be one ugly recession. W5 targets for DXY run over $130 and I don't think much will survive this risk off trade set up.
This is likely what many analysts are referring to as the "Blow off Top" to which I find myself reluctantly agreeing with since all my charts keep leading me down this rabbit hole. ;)
DXY Index will Go Down to 🟢Heavy Support zone🟢(1-Hour)⏰✅The DXY index managed to break the Uptrend line and 🟢 Support zone 🟢.
💫Currently, DXY reacted well to the Resistance line and formed a 💫Shooting Star Candlestick Pattern💫 near this line in the 1-hour time frame ⏰.
🔔I expect the DXY to trend lower in the coming hours , enter the 🟢 Heavy Support zone 🟢, and fall to at least the 🟡 Price Reversal Zone(PRZ) 🟡.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-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 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.
EUR/USD, DXY in focus for FOMC mins, PPI, Fed speakersWe have a busy claendar today for forex traders, with US producer prices data, FOMC minutes and several Fed members set to speak. Clearly this lineup has the potential for some larger moves on the US dollar, and that helps explain why the 1-day implied volatilty level for EUR/USD is nearly 200% of its 20-day average.
What’s grabed our attention is that DXY has retraced for five days yet is holdig above the January high / September 29 low. And that this coicides with a euro rally that has paused beneath resistance, it suggests the USD may be nearing an inflection point.
For EUR/USD to roll over form current levels, weak PPI data, dovish comments and minutes may be required. But traders should keep an eye on bond yields, because if they continue to fall it could further weigh on the US dollar and helpd EUR/USD braeak above the resitance cluster. However it plays out, bulsl and bears have clear levels to monitor for their setups.
USD is showing positive signals amid tensions in the Middle EastEarlier this week, the safe-haven dollar strengthened against the euro as military clashes between Israel and the Palestinian Islamic militant group Hamas raised concerns that the conflict could spread beyond Gaza. However, the dollar weakened against other major currencies.
Yesterday, Israeli Prime Minister Benjamin Netanyahu said Israel's response to the multi-pronged attack by Palestinian armed groups from Gaza would "transform the Middle East." Risk sentiment is fragile as Israel announces it is mobilizing 300,000 reservists and imposing a complete blockade of Gaza amid potential attacks in response to weekend attacks by Hamas.
Fed member Bostic told the American Bankers Association that even if the Fed raises interest rates to slow the economy while keeping inflation in check, there is no prospect of a recession. Joseph Trevisani, a senior analyst at FX Street in New York, said Bostic's response comes amid the eruption of conflict in the Gaza Strip.
Analysts also said the decline in U.S. yields initially reflected comments from Fed officials that there may not be a need for further rate hikes given the rise in long-term yields, and the port sector becoming a safe-haven asset following a monetary policy clash. He said this was due to comments from traders who were looking for. Hamas and Israel.
Traders are currently waiting for key US inflation figures to be released today, October 11th. Investors are also keeping an eye on developments surrounding the conflict between Israel and the Palestinian Islamic group Hamas.
DXY Index New Week MovePair : DXY Index
Description :
Falling Wedge as an Corrective Pattern in Short Time Frame and Breakout of the Upper Trend Line and Retracement. Completed " 12345 " Impulsive Waves and " A " Corrective Wave. We have Strong Divergence and Break of Structure
Entry Precautions :
Don't Enter until its Rejects from Previous Support or Complete its Retracement
Dollar Index -> Plain And SimpleMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only focus on price action and market structure 🖥️
I am trading the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on the Dollar Index.
Over the past couple of years, the Dollar Index has been trading in a quite solid rising channel and jusr recently perfectly retested and already started to reject the psychological $102 level. I do expect more continuation towards the upside to retest the upper resistance trendline.
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When the market moves where, and how, and if - these are all unknown.
The only thing which you can control is your risk.
- Philip Basic Trading -
Keep the long term vision🫡