views in dcb for DXYTVC:DXY made retracement of 61.8% successfully after made a significant downtrend and reversed from a strong resistance zone. now if it breaks 101.3-100.8 it will down till 99.8-99.4 to 97.7-96.9 and moreover 97.02 also a fibonacci forward zone of 127.2%. allover trend is downtrend.
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Dxynextmove
DXY (High Probability Buy Setup soon)The U.S. Dollar Currency Index (DXY) is showing continuing strong BULLISH move towards ATH of 114.773 of Mon 26 Sep '22, with U.S. inflation figures out later on today are in the spotlight, with the data expected to reinforce bets that the Feds will continue to tighten policy aggressively, hence extra strength to the DXY.
Keep a close eye on DXY today, happy pip hunting traders.
DXY US Dollar Bearish DivergenceThe US dollar is losing strength after getting rejected from the 2nd top. It also formed bearish divergence.
Currently, it is holding above the trend-line support and a breakdown below it, would be a bearish confirmation for it and if it gave a close above 2nd top then that would confirm more upside move in the price of the US dollar.
Dollar In ranging, Short expectedNow Dollar index consolidate on108.3-109.3. If breakout then dollar gonna another high to 111.2; If NFP data will negative, Dollar gonna 106.3 and go on.
Big Picture! Dollar now on solid bullish trend or up trend and still dominates the higher price.
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DXY Jan 2021 PA and Divergence with Time Speculationas we had analyzed this index earlier in lower time frames (240,D), we are getting more confluences or trend reversal even in the higher time frames of weekly.
we can see the price has reached one of its significant support zones and it is diverging with MACD and Its Histogram so forming a Bullish Divergence, which is the sign of trend reversal and we may have more confirmation as Price Action analysis also show that.
the TP zone has been Specified by Fibonacci retracement levels and Fibonacci Time base tools.
we may have some range and Accumulation at the same Support zone which the price is Currently located or instant trend reversal as USA Administration policies are also changing Due to the presidential Elections or if Washington faces more riot and chaos so does the index fall are reaches the heavy Support zone (Green Box)
we can think of shorting the USD Quote Currency Pairs such as EURUSD, GBPUSD, AUDUSD...
and long the USD Base Currency Instruments like USDJPY...
what do you think about it?
US-Dollar possible next big movesHi!
First of all:
it's a personal, purely technical view
without taking news or economic miracles into account!
or an alien invasion...
your opinion on this is very welcome in the comments!
Part 1: way up
let's switch to a smaller time frame to see why I think it would be possible
There is still a key level from the last up move in 2014 that has not been tested again.
I could imagine this will happen before we see another upward movement.
this key level is also in the range between 78.6 and 88.2 fibonacci.
anyone who knows a bit about fibonacci, knows that the market likes to hit this area again before major movements happen. mostly ... not always but often.
if this happens and the market does not break through here, the way could be free to go upwards.
Part 2: way down
here i take the same principle - just rotated
there is still the level of the high between 2000-2002 which has not been retested.
here again the fibonacci with the same levels. only rotated this time.
the range between 110 and 115 would be a very good short entry for me. because there could be a really tough resistance.
if the market goes above 121, we can look forward to more golden times.
if not... Michael Burry gets his next big short.
the only question would then be how far the usd can fall. the target area at -27 Fib is only a guess!
maybe someone already sees possibilities!
maybe I'm completely wrong?
we will see...
thanks for reading and have a nice day
not a trading recommendation or a investment advice
just my own opinion
BULLISH DXYDXY has bottomed out around the 89.50 level and has continued to grind higher since. The next level that we took out was the 89.90 level which now acts as support and the upward trend line and pivot area. I expect a move higher in the dxy in the coming weeks and therefore I will sell the rallies in EURUSD and AUDUSD and buy the dips in USDJPY.
Good luck!