2023 tradingdesk for the dollarHi Traders.
From now i will have one main idea, and all the ideas as we reach cycle targets for the year will be updated in the thread.
Fallow, like so you dont miss the updates.
I dont trade short term, keep in mind my ideas are longer term, and its boring.
We wait for the cycles to bottom and we wait once in the trade for the trade to mature.
Dxylong
DXY AT IMPORTANT RANGEHello friends, today Jerome Powell indicated that they should increase interest rates further more, they said same thing last month but it didn't give much strength enough to DXY enough, so I expect such a move which I have indicated in the chart... and J Powell speech indicates that there's loads of supply of US dollar in the market, and to make US Dollar strong, they should lower down the dollar note printing... and they have to lower the supply of US Dollar.... this indicates that US dollar supply is high, which means collapse of DXY... and I expect US dollar crash anytime soon, and I predict that it may happen after NFP report on 10 March...
Hope y'all wellness....
I am backToday the weekly data of the US labor market was published, confirming its cooling. Thus, the number of initial applications for unemployment benefits increased by 228.0K, which is slightly less than the previous indicator of 246.0K, but higher than the forecast of 200.0K. At the same time, the total number of citizens receiving assistance from the state increased from 1.817M to 1.823M instead of the expected decline to 1.699M. This statistic confirms the possibility of suspension of the interest rate hike cycle at the next meeting of the US Fed in May. We also note the corrections in the opinion of the head of the Federal Reserve Bank (FRB) of Cleveland Loretta Mester, who on Tuesday argued that the cycle of monetary policy tightening should continue, and the rate should be raised above 5.0%, but already on Wednesday said that it was too early to talk about whether the cost of borrowing will be raised again in May.
DXY Weekly CloseOnly a personal opinion - DXY Weekly
Seems positive for the USD today; look out two weeks, and it can still remain around the 102 level.
It will be sideways in the area 102-103 for the following week, now attempting to go to area 103.
If it break, the area 103 will continue to the area 104,448.
Perhaps the usd will receive some good news.
The DXY is trying to fill the Gap🚀!!!DXY completed its zigzag correction(5-3-5) near the Price Reversal Zone (PRZ).
DXY will move towards filling the gap after the downtrend line breaks (at least the growth that DXY can do).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1h-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.
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Can DXY bounce here? The dollar is in a secular downtrend, but after retracing 78.6% fib of its recent up move it looks to be trying to put in a double bottom. Going long DXY here to play for a potential bounce higher. This would be a potential negative for risk assets and is certainly something to keep an eye on. Don't expect it to completely reverse trend here but a nice pop could be in order.
DXY Trading Plan - 30/mar/2023Hello Traders,
Hope you all are doing good!!
I expect DXY to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.