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Dxylong

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.
TVC:DXYShort
by Sphyn-Trader
2
DXY may have reversed!!Currency Pair : DXY Possible direction : Bullish Technical Analysis : Price just has opened with gap and slowly turning into a bullish market after forming a middle man in the previous session. From monthly price has just bounced from the monthly support zone. Fundamental : Positive ADP Non-Farm Employment change data has given a strong boost on USD Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
TVC:DXYLong
by ForexWizard01
The inevitable collapseDXY looks to be at a reversal point, or is it? This is why I love looking at a ticker in relation to another by using the / symbol. The way it works is ( ticker youre interested in )/( in relation to another ticker ) . For this instance we will look at both DXY/SPY and SPY/DXY. Typically SPY and DXY do not move in correlation, in fact they move in the opposite directions. When the dollar is strong, stocks fall as more people invest in the dollar as opposed to stocks. In the contrary when more people are investing in stocks, there is less money being put into the dollar. First lets look at only the DXY chart. Here we are looking at the weekly chart of the dollar. Although we are still in a downtrend, with the 9,21 and 50 ema stacking to the downside, there seems to be the possibility of a double bottom occurring at a previous support level of 101. By looking just at this chart, the dollar looks primed for a reversal. The question is how strong of a reversal will it be? Next lets look at the DXY/SPY chart. This chart is a much different story and shows tremendous weakness in the dollar in comparison to stocks. We have a head and shoulders with the last reject off of the 200ma. The candles are following the downwards momentum along the ema with the continuing lows of the MACD and RSI. Last, lets look at SPY/DXY As SPY and the dollar are inversely correlated its no wonder that this chart is showing significant strength in SPY. We have an inverse head and shoulders with the 9,21, and 50 ema going upwards also followed with the upwards trajectory of MACD and RSI. If there is a break of the resistance line, I am even more than certain we are on our way to another bull run. I know the thought of a bull run sounds insane with so much talk about a recession but do you think the market wont be prepared for a massive short squeeze as everyone and their mothers have gone short in anticipation of a killer recession? Remember, the market never does what the masses want it to do. TLDR: DXY looks poised for a reversal but comparing DXY to SPY by looking at DXY/SPY and SPY/DXY shows significant weakness in the dollar in comparison to stocks. DXY and SPY are inversely correlated. All charts combined shows we may have a slight bounce in the dollar, but there is more downside still to come.
TVC:DXYShort
by MoRafi
DXY brief gain to the resistance 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 🐋
TVC:DXYLong
by MadWhale
6
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 🐋
TVC:DXYLong
by MadWhale
5