DXY short term bear, longer term bull. We are in a massive descending channel since some time in the 1980s or so. The idea shows how our dollar may return to the orange trendline and continue on its way up until summer 2024 or so. Are bears here to stay until 2024? In my opinion: The sooner we reach the top of the channel, the better. Most of us hold stocks and crypto lol... Mostly posting this so I can see how it plays out in 2 years. I will post other timeframes in comment section below.
Dxylong
Extremely bullish for USD with interest hikesExtremely bullish for interest rate hikes and think it will Mike Tyson (KO) most assets against USD. Looking at $106+ possibly as high as $120 and cryptos, gold, silver, OIL are going to tumble hard. Be very careful with these hikes. I wouldn't even play and only keep cash for a while.
dxyThinking we finally have a 5th wave top in here, I was expecting $106.60 to be the final blow off top and that is still on the table. But as for now the ABC correction seems to have started. If this move proves to be yet another extension I would expect $106.60 plus to get tested b4 the predicted correction ensues.
Quick DXY analysis on 15mins chartAnalysis
DXY has turned bearish after getting rejected at 104.5 level on lower time frames, although remain above 54 RSI on daily.
Price currently hanging around fib 0.382 since 09, June, which is also a small RBS zone. If not bounced, it can extend the move to lower historical support area 103.536.
If current support is respected, price can go back up to retest 104.234, then either go further for 104.405 or drop back for 103.821.
Overall trend is still very bullish, price is far away from 4H trend line.
Intraday News
There's red folder news for CAD and amber folder for US both of which are forecasted as weak.
Liquidation
price dropped without hesitation through 104.23 are which was supposed to be recent support on 15mins.
There's a small gap on 17, June 103.821 area. If bear intensifies, price and drop to that level to grab some liquidity before moving up.
Support Consideration
mini fib support zone: 103.919 - 104.007
key support: 103.536 (103.423 - 103.619)
Resistance Consideration
immediate retest: 104.234
further test: 104.405, 104.5
Entry
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Trade Invalidation
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ICT ATM METHOD DXY!!!!!!!ICT ATM METHOD!!! short term high ran and rejection giving you the confirmation of the short, well look for this to reject inside the ob 104.900 and take out the local lows liquidity 103.400.
Price reaches the low ob+fvg 102.650 prior to running the sell side liquidity well monitor this for a potential area where we see a rejection (pray this doesn't happen) and if so well look to take profit and cut our positions.
HOLY GRAIL if price seeks the sell side liquidity 101.300 then we can really set our selves up for some relief.
WE STAY CALM AND COLLECTED, LET THE MARKET COME TO YOU AND EXECUTE LIKE A BOSS!!
THEY DONE TURNED THE MONEY MACHINE ON TODAY! DXY IS ON FIRE!!!The DXY hasn't been this high since the 2000's!
If it keep pushing (which the fundamentals are strong) it could time travel back into the 80's when the DXY was KING OF THE WORLD! lol
If you are trading any pairs with the Dollar trade accordingly.
Never over leverage.
Trust your trade set up.
Have fun!
Trading Made Simple
DXY create bearish butterfly pattern. Short sell, long buy
12 JUNE 2022
DOLLAR INDEX MY VIEW-
N.B-In this situation DXY chart create bearish butterfly pattern.
So, market need to seems sell correction on 103.740 AND
103.330 support Zone. Then market fully buy on 104.444 and 105.500 resistance level.
DXY create bearish butterfly pattern. So, BUY NOW....
08 JUNE 2022
DOLLAR INDEX MY VIEW-
N.B-In this situation DXY chart short tram create butterfly pattern.
So, If break out 102.645 resistance zone then market bullish to 102.715 AND
102.830 & 103.050 Resistance Zone. If break our 102.220 support Then Sell SAVE.
DXY create bearish butterfly pattern. Short BUY, long SELL
DOLLAR INDEX MY VIEW-
N.B-In this situation DXY chart short tram create butterfly pattern.
So, market seems bullish 102.220 AND 102.600 Resistance Zone. Then Sell SAVE.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
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DXY US Dollar Index #DXY has grown and heading towards a minor trendline that has served as resistance for the bullish correctional pattern which It just broke out from within price range of 101.62 I want to belief that this would take price to a MAJOR demand zone around $100 before the rebound, but economic events might act a good catalyst for the Bullish movement of US Dollar Index also. My hope is that price would go back to test it recent high around $105.00 if this happens
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XAUUSDHello Traders and Subscribers.... Thank you for taking your time out to check out my Precious Metal Idea out...
General Sentiment= #DXY has grown and heading towards a minor trendline that has served as resistance for the bullish correctional pattern which It just broke out from within price range of 101.62 I want to belief that this would take price to a MAJOR demand zone around $100 before the rebound, but economic events might act a good catalyst for the Bullish movement of US Dollar Index also. My hope is that price would go back to test it recent high around $105.00 if this happens
Technical Idea=== #XAUUSD broke out of a major falling trendline to the upside and seem to be trading towards a bearish structural pattern since price has just retested a major supply level, I am of the view that $I,852 is a very key level to watch as this might take price to the nearest resistance which could turn support around $1,822. A strong violation of that level might push price downward towards an horizontal resistance level which is the recent low $1,754.