DXY Chart for DXY Bears and BullsBars pattern shows bears regaining control until the middle of the larger overarching channel.
Cup and handle present for the bulls this is a good sign.
Follow the trend which is down.
Bears are still in control.
Dxyindex
DXY Dollar Index Technical Analysis and Trade IdeaIn this video we look at the #DXY dollar index and analyse its potential trend reversal. The daily timeframe shows a pattern of higher lows and highs, with a clear formation of a bottoming structure. Throughout the video, we will discuss the current market conditions, including price action, market structure, and the trend, and identify a potential swing trade opportunity for the upcoming week. It's important to note that the information presented in this video reflects only my personal opinion and should not be considered as financial advice.
DXY - Monthly BreakoutDXY is breaking out of this broadening wedge structure to the upside.
This is all contained within a larger down channel.
Perhaps we will see more movement upwards as this is a quite bullish pattern
Still looking to short DollarThe dollar is experiencing fundamental weakness due to its data, with yuan transactions surpassing it for the first time. The GDP was worse than anticipated, causing concerns of an impending recession. Today's core PCE data, a crucial inflation indicator, could potentially alter the trajectory of the dollar, therefore, be cautious.
From a technical standpoint, I am searching for a trend rejection.
DXY index 03 May MovePair : DXY Index
Description :
Falling Wedge as an Corrective Pattern in Long Time Frame with the Breakout of the UTL
Break of Structure
RSI - Divergence
Completed " ABC " Corrective Wave
Bullish Channel
Rising Wedge in Short Time Frame with the Breakout of the LTL
DXY still in bullish 3may2023DXY movement has been slow in the last 2 days, probably due to the big news releases this week. I believe DXY is still in a bullish position
The 🦈Shark🦈 Harmonic Pattern is a sign of a bullish DXY🚀DXY seems to have successfully broken the descending channel and is currently completing a pullback to the upper line of the descending channel.
Also, it seems that the Bullish 🦈Shark🦈 Harmonic Pattern can be formed in the 🟢support zone($ 101.96-$ 101.9)🟢 and near the support line and play the role of pullback.
I expect DXY to rise in the coming hours with the help of a Bullish 🦈Shark🦈 Harmonic Pattern and at least grow to the resistance line.
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.
When can the DXY index break the Descending Channel❗️❓The DXY index has been moving in the descending channel for more than 1 month.📆
DXY seems to have formed the Double Three Correction structure(WXY) in the middle of the descending channel during the last two weeks.
I expect the end of wave Y to finish near the middle line of the descending channel and the🟢 support zone($ 101.3-$ 100.82) 🟢, and again DXY will attack the upper line of the descending channel for the 5️⃣fifth time5️⃣ and break the descending channel.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 2-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.
DXY - U.S Dollar Index LongDXY is in the support zone that used to be a resistance level from January 2017 and March 2020. a resistance level for 3 years. If the 100 -102 support doesn't get broken we are now looking at our new support and the U.S Dollar index can give us another bullish scenario. The new resistance would be September 2022 High 114-115.
Has The U.S. Dollar DXY Peaked In 2023?After steadily climbing throughout 2021, the DXY saw a solid start to 2022. The US Dollar Index rallied from a low point of 94.63 in mid-January to a 20-year high of just over 114 in late September.
DXY has experienced a significant drop since the publication of cooler-than-expected inflation data. Expectations of slower rate hikes from the Fed, and a lower potential terminal rate for US interest rates, have resulted in a repositioned dollar.
I believe the USD will weaken further in 2023, as its significant overvaluation (based on the real effective exchange rate (REER)) can no longer be supported, once the Fed stops hiking, global growth shows signs of toughing and market volatility comes down.
Technically, the dollar index DXY on the monthly timeframe closed below the 21-EMA for the first time since Aug. 2021, below the critical resistance represented in 102.80 level. Next downside target: 99.35 support level. (on the medium-to-long term)
DXY H4 2may2023I think DXY is still in accordance with the analysis, currently it is still in the correction phase, it looks like it will continue the upward trend.
DXY mid to long term analysisLong term I am Bearish on DXY, with De-Dollarization happening in the world especially BRICS countries preparing to create a new currency to use for trade amongst them and 24 other nations joining them. So, we will see the dollar lose its value over the next few years.
But in the short to midterm (Few Months to a year) I am seeing a nice bottom form for DXY.
I have drawn two rounded curves in purple where I see rounded double bottom formations which in my experience are immensely powerful Market structure for explosive move to the upside a move to 109 is expected because of this structure.
I have also drawn two smaller Rounded bottoms in yellow and Red which I see playing out to the upside in the short-term A move to 104 is expected if these structures continue to develop.
PA is also reacting to the PRZ 1.414 of butterfly, if DXY comes down to play the red rounded bottom, we can see a strong move up from 1.618 extension of the butterfly as a Type 2 return on the harmonic.
We also have the 3 key EMAs (13 21 and 34) on daily start to curve to the upside, these are initial signs of Trend reversal. Right now, PA is above 21 and 13, but below 34, As long as 34 EMA is not broken through on Daily Time Frame 21 and 13 EMA act as weak support and 34 EMA will continue to act as resistance, and we will be in a down trend. Once the 34 EMA is claimed on Daily and held for few days, we get a confirmation for the uptrend and then 21 and 13 EMA will start to act as strong support along with 34 EMA.
With FOMC coming up, if the news is favorable for Dollar, we can break thorough 34 EMA and confirm the trend reversal.
I have over 6 years of trading and investing experience and have learned a lot in this time. I like to share what I have learned and if you like my content and would like to learn from my experience hit like and follow me for getting notified on my trade, market projections and several upcoming tutorials on technical analysis and several technical Indicators. you can also leave a comment and let me know if you want me to analyze any specific asset or want to learn about any specific topic in the world of Technical Analysis. I Will do my best to create a post for it.
Keep learning and Happy trading All.
DXY close to great daily support area 📖🚀Hello 🐋
Based on the chart, the price is close to the support area and channel support ✔️
if
the price doesn't break the support zone to the downside, we can see more gain 💣🚀
otherwise
we can see more correction ❌🧨
👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
DXY in detail What is DXY ?
The U.S. Dollar Index (DXY) is a measure of the value of the U.S. dollar relative to a basket of six major foreign currencies. It is a weighted geometric mean of the exchange rates between the U.S. dollar and these currencies. The DXY was created in 1973 with a base value of 100 and serves as a benchmark to assess the strength of the U.S. dollar in comparison to other global currencies.
The basket of currencies and their respective weightings in the DXY are as follows:
Euro (EUR) - 57.6%
Japanese Yen (JPY) - 13.6%
British Pound Sterling (GBP) - 11.9%
Canadian Dollar (CAD) - 9.1%
Swedish Krona (SEK) - 4.2%
Swiss Franc (CHF) - 3.6%
The weights assigned to each currency in the formula are based on the trade weights of the currencies, which reflect the importance of each currency in international trade.
An analogy to explain DXY could be imagining a shopping cart filled with distinct items, each with a different price tag. The DXY is like the total value of the items in the shopping cart, where each item represents a currency in the basket. Just as the total value of the items in the shopping cart can fluctuate based on the price of each item, the value of the US dollar in the DXY can fluctuate based on the exchange rate of each currency in the basket.
For example, if the exchange rate of the euro, yen, and other currencies in the basket decrease relative to the US dollar, the value of the US dollar in the DXY would increase. Conversely, if the exchange rate of these currencies increases relative to the US dollar, the value of the US dollar in the DXY would decrease.
Following is how it's precisely calculated:
The DXY, is calculated as a weighted geometric mean of the US dollar's value relative to the six major currencies in the basket. The formula to calculate the DXY is:
DXY = 50.14348112 × EURUSD^(-0.576) × USDJPY^(0.136) × GBPUSD^(-0.119) × USDCAD^(0.091) × SEKUSD^(0.042) × CHFUSD^(0.036)
where:
EURUSD is the exchange rate of the euro to the US dollar
USDJPY is the exchange rate of the yen to the US dollar
GBPUSD is the exchange rate of the British pound to the US dollar
USDCAD is the exchange rate of the Canadian dollar to the US dollar
SEKUSD is the exchange rate of the Swedish krona to the US dollar
CHFUSD is the exchange rate of the Swiss franc to the US dollar
As an example, let's say that on a particular day, the exchange rates of the currencies in the basket are:
EURUSD = 1.2000
USDJPY = 110.00
GBPUSD = 1.4000
USDCAD = 1.2500
SEKUSD = 0.1200
CHFUSD = 0.9000
To calculate the DXY for this day, we would plug these values into the formula and solve:
DXY = 50.14348112 × 1.2000^(-0.576) × 110.00^(0.136) × 1.4000^(-0.119) × 1.2500^(0.091) × 0.1200^(0.042) × 0.9000^(0.036)
DXY = 90.546
I have over 6 years of trading and investing experience and have learned a lot in this time. I like to share what I have learned and if you like my content and would like to learn from my experience hit like and follow me for getting notified on my trade, market projections and several upcoming tutorials on technical analysis and several technical Indicators. you can also leave a comment and let me know if you want me to analyze any specific asset or want to learn about any specific topic in the world of Technical Analysis. I Will do my best to create a post for it.
Keep learning and Happy trading All.
$DXY Dollar index bullish close todayTVC:DXY Dollar index had a bullish close today and a possible breakout coming soon!
Short break for DXY growth again⏰As I expected in the previous post, DXY completed wave 5 at the bottom of the descending channel and the 🟢support zone($ 101.3-$ 100.82)🟢.👇✅
It seems that DXY intends to break the upper line of the descending channel after a short break in the middle of the descending channel.
According to the theory of Elliott Waves, the DXY correction structure is a type of Zigzag correction(ABC/5-3-5).
The end of this zigzag correction or break is expected to end near the middle line of the descending channel or the 🟢support zone($ 101.3-$ 100.82)🟢, and then DXY will grow again at least to the upper line of the descending channel (probably DXY will break descending channel this time).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 2-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.
DXY Next MovePair : DXY Index
Description :
Bearish Channel in Long Time Frame as an Corrective Pattern with the Breakout of the Upper Trend Line
Divergence
Break of Structure
Completed " 12345 " Impulsive Wave and making its Correction " ABC "
Bearish Channel in STF
New opportunity to add in my dollar positionAfter breaking through the support zone, a retest occurred, accompanied by a 61% Fibonacci retracement.
Thursday's GDP data will be the deciding factor for market movement,
We can anticipate two potential outcomes:
1. If the GDP exceeds expectations, investors may feel more secure, and as a result, dollar prices may not increase significantly.
2. A worse-than-expected GDP could trigger fears of a potential recession, leading to a surge in demand for safe-haven assets like gold. This increase in demand could drive up the price of gold and weaken the dollar significantly.
DXY brief gain and long position 📖🚀Hello 🐋
Based on the chart, the price is close to the support area and channel support ✔️
if
the price doesn't break the support zone to the downside, we can see more gain 💣🚀
otherwise
we can see more correction ❌🧨
👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Intraday BUY dxy (27 APR 2023)DXY intraday trading alert
3 simple steps to find a quality setup !
Risk Reward Ratio 1: 2
Anyone same idea with me?
BUY DXY
Good luck traders..
DOLLAR INDEX Correct to support & levels to watch. DXY💲Hello my friend, Everything is marked on the chart like always. We can consider it and entering safe in the Gold , Euro , Pound and etc. key point is 103.
Good luck.
If its useful please like it as a support and follow me to next analysis :)
Salam doostan aziz, hame chiz rooye chart baraye shoma moshakhas shode. mitoonim in ro dar nazar begirim va vorood haaye behtari dar Gold va euro va pond va ... dashte bashim. noghte kelidi 103 hastesh.
moafagh bashid.
like va follow faramoosh nashe :)
DXY: Event influence!Hello traders, I have some USD related information to share with you ♥
US Dollar's position as the primary global reserve currency is being challenged
The US Dollar's share of the global market has decreased from 71 percent to 59 percent over the last two decades and could shrink even further in the future. The primary victim in this scenario is the United States, as currency usage in global trade is a zero-sum game. Each time a Yuan, real, or Rupee is exchanged on the global market, a Dollar is not. If credible alternatives gain steam, the dominance of America in the global market will be compromised.
