Upside Range for gold with a midpoint for invalidation of range Pictured is gold from a Daily timeframe perspective
How price is reacting at the bottom of the Weekly range is rather Reversal like and also paying attention to where price is on the DXY - the probability lies in a correction inbound - wether it correct to the mid zone and then continue lower, or if price brakes through we can see price make its way up to 1980 and BEYOND !!!
On the Monthly chart price is also testing last months low region and a clear brake below this if you were to go to the monthly chart would see a further decline to 1800
The remainder of the month is looking interesting .....
Stay tuned
Dxyshort!!!!!!!!!!!!!
Increase of DXY index after breaking the Resistance Line🚀Hi everyone👋.
💡The DXY Index is ready to break the resistance lines; one of the signs is Bullish Marubozu Candlestick Pattern .
🌊If we look at the DXY from the theory of Elliott waves , we will find that DXY is on the way to completing wave 5 (📚If DXY breaks the resistance lines, we can confirm the end of wave 4 📚).
🔔I expect DXY to break the resistance lines and at least go UP to the 🔴 resistance zone($103.80-$103.38) 🔴 in the coming hours.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.
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📈DXY daily chart pattern📉TVC:DXY
CAPITALCOM:DXY
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DXY Analysis. CPI Day! No trade today!Hello Everyone. I want share my idea after we will get some news from CPI.
In my last analysis of DXY my price prediction still short (i will link that idea in this post) My price prediction is still Short. on high timeframe from weekly trendline we have some pretty bearish movements. I think until cpi numbers it will touch daily trendline then it will retest weekly trendline, if there will be not new sellers the price will brake easy that trendline.
TODAY I WILL NOT OPEN ANY TRADE UNTIL CHART WILL BE NOT CLEAR!
Good luck Everyone.
Bearish continuation for Dollar?Now that we are here...this is a price of attention since the Bearish retest should stop here and then continue downwards. We now are seeing a decline in the micro Bullish trend of the Dollar. Where do we go from here? A Bearish continuation for the dollar can only spur HH for equities is that even possible? PA will tell
DXY Analysis. Crazy week incoming!!!Hello Everyone. I want share my idea about USD Index.
After big and strong downtrend dollar found strong buy LVL and from here it started uptrend but at high timeframe we see its still bearish. Friday we saw strong sell but its looks like new low, i think the little bullish trend will continue, it touch weekly trendline or daily resistance, and then we will see another strong bearish movement.
This trend started after unemployed/employed rate news, next week is more crazy, we have month cpi and other big news.
My price prediction is 2 side and simple.
1 Bullish - price has big reaction on this daily trendline, it brake daily resistance and weekly bearish trendline, then retest that zone and price is going up side.
2 Bearish - price going to weekly bearish trendline, from here it has big rejection and price coming down again, braking July low and test second big weekly resistance at 98.000 LVL.
Be Patient!!! Next week will be full of manipulations, Be carefully!!! Good luck everyone!!!
DXY Analysis - Short SetupI am under the anticipation that XXXUSD pairs are accumulating and USDXXX are distributing.
Based on the current price action of the DXY chart, I am anticipating weakness in the Dollar.
This is the setup I have based on DXY, which would have to be translated to respective Forex pairs and/or Commodities, etc.
The safest protocol at the moment is to wait for convincing displacement and structure to form before taking the trade. We have CPI and PPI at the end of the week, so I will see how price forms before that.
2 possible scenarios I will be looking for.
1.) DXY creeps up during the week until CPI to my point of interest, then that could be a good signal for this analysis to play out.
2.) DXY creeps down then pumps up during CPI, and then lingers at my point of interest before PPI, then that could also be a good confluence.
My only concern is that the DXY wants to continue rallying to take out the higher timeframe trendline liquidity and fill imbalances back at a Premium level. I would be surprised due to the increased hedging by commercials. But, anything is possible!
Yours truly,
R2F
⚠️DXY will go DOWN(Short term)⚠️As I expected in the previous post, DXY reached the resistance lines.✅👇
💡If you look closely at the chart, you will notice that DXY is moving in an Ascending Channel .
💡It seems that DXY failed to break the resistance lines.
💡Also, we can see Regular Divergence(RD-) between consecutive peaks.
🔔I expect the DXY will go DOWN at least to the lower line of Ascending Channel.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-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.
Until DXY beats this price, this is just a bear flag!Traders,
The dollar continues its journey down. So, is my H&S pattern still intact? Well, on the weekly it is. Does that count? I think so.
It's not like the dollar has turned the corner here and growing stronger. We are still very much in a downtrend. Even that right shoulder is still valid. And, like I said, on a weekly chart that neckline still holds. Once broken, the dollar is in trouble.
What would invalidate my H&S pattern? Well, if the dollar beats that 50 day moving average and then proceeds to move up and above that 103.53 level with confirmation, I might be wrong and would have to re-evaluate at that point. Until this time, the DXY has formed a classic bear flag and I expect weakness to continue. The weaker the dollar, the more dollars it takes to buy a thing. The more dollars it takes to buy a thing, the higher the prices will go to reflect what is needed. This includes stocks.
Stay tuned as we keep our eyes on this unfolding event.
Stew
What do we expect from the DXY index this week❗️❓🚀The DXY index failed to break the 🟢 support zone($101.30-$100.82) 🟢 reliably, and with the Double Bottom pattern , it resumed its upward trend and formed a 🐻 Bear Trap 🐻.
💡Also, the DXY index issued a Buy signal through the 50-SMA and 50-EMA .
💡The Bullish Marabozu candle was also a sign and confirmation that DXY's fall below the support zone was just a Bear Trap.
🔔I expect the DXY to have a bullish trend this week and ⚔️attack⚔️ the resistance lines.
📚In general, I try to show you all the points of technical analysis on the chart, which also has an educational aspect(I apologize for the busy chart).📚
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-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 ShortThe DXY US Dollar Index, which measures the value of the US Dollar against a basket of major currencies, has recently experienced a bearish move, declining from the level of 102.500 to 102.750. This analysis will explore the factors contributing to the bearish sentiment and the potential reasons for the index's downward movement in the specified price range.
Dovish Federal Reserve and Interest Rate Expectations:
The US Federal Reserve's monetary policy stance plays a significant role in influencing the US Dollar Index. If the Federal Reserve signals a dovish approach, with potential hints at keeping interest rates lower for an extended period, it could reduce the attractiveness of the US Dollar to investors seeking higher returns. This could result in downward pressure on the DXY Index as market participants seek alternative investments with higher yields.
Global Economic Recovery and Risk Appetite:
As the global economy recovers from the impacts of the COVID-19 pandemic, risk appetite among investors tends to increase. During such times, market participants may shift towards riskier assets and higher-yielding currencies, leading to a sell-off in safe-haven assets like the US Dollar. The improvement in economic indicators worldwide could further dampen demand for the US Dollar, causing the DXY Index to move lower.
Trade Balance Concerns and Geopolitical Risks:
A significant factor affecting the US Dollar Index is the US trade balance. If the US trade deficit widens or there are concerns about escalating trade tensions with other countries, it could weigh on the US Dollar's value. Additionally, geopolitical risks or uncertainties could lead investors to seek safe-haven currencies other than the US Dollar, leading to a bearish move in the DXY Index.
Technical Resistance Levels:
Technical analysis of the DXY Index may reveal the presence of resistance levels around 102.500---102.750. If the index encounters selling pressure at this level due to technical factors or the convergence of key moving averages, it could trigger a bearish reversal, leading to a decline in the index's value.
Inflation Concerns and Fed Policy Response:
Persistently high inflation could lead to concerns about the purchasing power of the US Dollar, prompting market participants to anticipate a more aggressive response from the Federal Reserve, such as raising interest rates. In such a scenario, the US Dollar could face headwinds, resulting in a bearish move in the DXY Index.
Conclusion:
Considering the dovish Federal Reserve stance, improved global economic conditions, trade balance concerns, technical resistance levels, and potential inflation-related uncertainties, the DXY US Dollar Index is likely to continue its bearish move from the 102.500 to 102.750 levels. Traders and investors should closely monitor relevant economic data, central bank announcements, and geopolitical developments to gauge the strength of the bearish trend and make informed trading decisions.