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USDX: Thoughts and Analysis Pre-US CPIToday's focus: USDX Pattern – LH Resistance push Support – 102.45 Resistance – 104.12 - 104.35 Hi, and thanks for checking out today's update. Today, we are looking at USDX on the daily chart. Today's video asks if USDX will continue to remain below resistance and possibly break lower if today's CPI data comes in lower than expected. We are mainly focused on the resistance areas and the current LH that has formed around the supply and resistance areas discussed in our video update. We have also noted some bullish price action; if CPI rises to the upside, this could set up a new continuation higher. But for now, as noted in today's video, we will continue to look at the resistance holds and the current trend of CPI declines on the y/y. US CPI data is due on Wednesday at 8:30 am EST or 12:30 pm AEDT. Good trading.
EIGHTCAP:USDXShort
by Eightcap
DXY and 14 Levels: Understanding the Currency Pair's TargetsWhile Himino's speech is a crucial assumption for monetary policy and the longstanding dilemma regarding wages and prices, his journey is a speculative adventure on how the concept of Wages/Prices can depart from what he calls a frozen state. Next are deeper insights into how Himino perceives and examines wages and prices in relation to Japanese households, businesses, and financial institutions. Himino then guides us through four stages of development, covering price fluctuations, labor costs, buying and selling prices, and wages. Remarkably, as BOJ has demonstrated since 2016, Himino dismisses the Wages/Prices concept in stage 1, where uncontrollable prices arise from the West through imported inflation and market changes in oil prices. How to control imported inflation and oil prices without imposing an advanced concept like Autarky on Japan's prices. As Himino points out in some cases, the complexity of Wages, Prices, and satisfaction to prevent deflation may never materialize. Throughout the speech, Himino states that if the concept of wages/prices is satisfied, questions about monetary easing must be reconsidered. Whether intentionally or not, Himino throws USD/JPY and cross-currency pairs into the mix. A worrisome aspect of Himino's speech is how a speculative speech turns into psychological reports on negative interest rates, ultimately BOJ's most important December policy, the end of monetary easing. Currency analysts and outspoken figures on leading websites in our era reveal that they can no longer fix it. Stage 1: Businesses reflect higher import prices in selling prices. Stage 2: Businesses reflect a higher overall price in wages. Stage 3: Businesses reflect higher labor costs in selling prices. Stage 4: Business price policies become more diverse, enabling them to explore strategies for selling more attractive products and services with corresponding prices rather than just good products and services at low prices.
TVC:DXY
by Gwen_Humuna
Himino's Speech: A Deep Dive into Currency Pairs and Targets In a significant monetary policy speech, Himino introduced pivotal assumptions for wages, prices, and the prolonged dual downturn. The narrative explored how the concept of Wages/Prices might depart from what he termed a frozen state. Himino delved deeper into understanding and reviewing wages and prices concerning Japanese households, businesses, and financial institutions. He guided us through four developmental stages involving price fluctuations, labor costs, buying and selling prices, and wages. Notably, in stage 1, Himino acknowledged the complexity of controlling imported inflation and oil prices without imposing a progressive concept like Autarky on Japan's prices. Throughout the speech, Himino asserted that if the Wages/Prices concept is met, questions about monetary easing must be reexamined. Interestingly, Himino tactfully connected his speech to the USD/JPY movement and cross-currency pairs. A notable aspect of Himino's speech is how speculative remarks turned into psychological reports on the last meeting of BOJ in December, highlighting the importance of the new monetary policy and the cessation of easing. Financial analysts and opinion leaders expressed their inability to repair the situation. Himino outlined four stages: businesses reflecting higher import prices, businesses reflecting higher overall prices on wages, businesses reflecting higher labor costs in prices, and diversified price policies allowing businesses to explore strategies attractive in value instead of just focusing on low-priced goods and services. In summary, Himino's speech touched on crucial economic concepts and their implications, sparking discussions on the future of Japan's monetary policy and its impact on currency pairs.
TVC:DXY
by Larissa-Trader
1
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- Bearish under 104.20After making a low just under 100 mark in mid-July, TVC:DXY started a nice up trend and rose more than 7% in the next 2 months and reached a high of 107.20 at the beginning of October. The attempts for a new local high failed and, at the beginning of November the index has started to fall, recently making a low at 102.50. December's recovery is contained in a bearish continuation flag which was broken to the downside at this moment. My outlook for the index is bearish and a new wave of selling is the most probable scenario in its case. A daily close above 104.20, on the other hand, will put bulls in control and will change my outlook.
TVC:DXYShort
by Mihai_Iacob
DOLLAR INDEX FORECASTHigh speculation on upside, idea are 2, not quite fan on below, remember the fed not yet full blown the 2% inflation target, expect 1st Q of the year would be another rate hikes. Skip what they are saying they will not tell it until its done. This is only view on dollar index. Wether we go higher next year or we go lower or they just wait for the US elections to rate again, Trade at your own risk. This is not a financial advice. Follow for more higher context ideas.
TVC:DXY
by D1GITALTRADES
DXY Index is Ready to Break the 🔴Resistance zones🔴✅It seems that the DXY Index finally managed to break the Descending Channel that it was in for more than one month . 💡I expect the DXY Index to take the help of the Uptrend line to break the Resistance zone ahead and it can break the minimum 🔴 Resistance zone($104.20-$103.98) 🔴. 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.
TVC:DXYLong
by pejman_zwin
18
🗺️DXY Index Roadmap🗺️⏰(4-hour time frame)⏰🏃‍♂️The DXY index has been moving in a Descending channel for a month . 🌊According to Elliott's theory , it seems that the DXY index has completed its 5 downward waves near the lower line of the descending channel after breaking the 🟢Support zone($103.78_$102.93) 🟢. 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 💡I expect the DXY index to move towards the upper line of the descending channel and in the first step, we have to wait for the middle line of the descending channel to be broken ( the middle line has already played the role of support and resistance ). U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYLong
by pejman_zwin
13
DXY (Dollar$) 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 update roadmap for trading heloo dear trader I am waiting for the fall ... my road map on this chart What is institutional price action? It's a tactic most often employed by institutional and retail traders. Generally, these traders use leverage to place large trades on the basis of small underlying price movement. The short-term nature of these trades makes other strategies, such as technical or fundamental analysis, less effective. stop loss need for any position goodluck... mehdi
TVC:DXYShort
by mehdi_kb
USD Weakens; Currencies ResilientThe Dollar Index (DXY), measuring the greenback against a basket of key currencies, extended its decline to 103.40 (from 103.75) during the holiday trading session. The Canadian Dollar (CAD) outperformed, causing USD/CAD to drop by 0.7% to 1.3615, hitting a one-month low. Canada's year-on-year retail sales for September surged to 2.7%, beating expectations of 2.0%. The British Pound (GBP/USD) rebounded to 1.2605 (from 1.2540), while the Euro (EUR/USD) rose to 1.0942 (from 1.0905). Germany's IFO Business Climate increased to 87.3 in November, beating forecasts but slightly lower than the previous reading of 86.9. The Australian Dollar (AUD/USD) extended gains to 0.6585 from 0.6560, nearing its three-month high. The New Zealand Dollar (NZD/USD) climbed to 0.6085 (from 0.6045) on strong sentiment from Australia and risk appetite. Against the Japanese Yen, the U.S. Dollar (USD/JPY) dipped to 149.45 from 149.65 in subdued trading. The greenback closed lower against Asian and emerging market currencies. USD/CNH (Dollar-Offshore Chinese Yuan) dropped to 7.1475 from 7.1515, and USD/THB (Dollar-Thai Baht) ended nearly unchanged at 35.40 (from 35.43). USD/SGD fell to 1.3405 from 1.3420. Global bond yields rose, with the 10-year U.S. Treasury yield reaching 4.47% (from 4.40%). The 2-year U.S. Treasury yield increased to 4.95% (from 4.90%). Germany's 10-year Bund yield rose by 3 basis points to 2.64%, and Japan's 10-year JGB yield spiked to 0.76% (from 0.71%). The U.S. stock markets closed stable on Thanksgiving, with the Dow rising 0.27% to 35,383 (from 35,287), and the S&P decreasing to 4,557 (from 4,560). Global equity markets showed mixed performance. The VIX, measuring U.S. stock market volatility, dropped to its lowest close since January 2020, reaching 12.46, a 2.7% decrease. Increasing expectations suggest that central bank tightening measures have concluded, contributing to calmer stock markets.
TVC:DXY
by damasbryant
US Dollar Faces Supports: Potential Double Bottom Signals MarketUS Dollar Faces Supports: Potential Double Bottom Signals Market Dynamics Major currency pairs continue their range-bound movement on Monday as investors refrain from making significant directional bets. The market sentiment is cautious due to escalating concerns, with investors eyeing key inflation data releases from both the United States (US) and the Eurozone later in the week. Early Monday, Asian markets saw declines, influenced by the People’s Bank of China's (PBOC) lack of detailed information on stimulus measures for private firms and rising respiratory illnesses in China. The ongoing decrease in China’s Industrial Profits, coupled with uncertainty surrounding major central banks' interest rate outlooks, further contributed to the subdued market mood. The return of US traders after the Thanksgiving holiday break is awaited, and the US S&P 500 futures, considered a risk barometer, indicate a 0.30% decline on the day. Despite the cautious market sentiment, the US Dollar experiences selling pressure as it hovers around the 103.200 zone. Notably, there's potential for a Double Bottom formation, suggesting a strong recovery for the USD. The existence of a Fair Value Gap (FVG) around $105.000 becomes noteworthy, serving as a potential target point in the event of a market reversal. Our Preference Above 102.600 look for further upside with 104.2150 & 105.000 as targets.
TVC:DXYLong
by FOREXN1
1