Dxyshort!!!!!!!!!!!!!
DXY - watch for short term downsideGood morning everyone,
DYX has been pulling back, sending both EUR/USD and GBP/USD to multi week highs.
Under this backdrop, the trendline that's been holding since February 4th 2022 is on the cards over the next days. Let the price consolidate around the levels it is right now and if some corrective pattern (bear flag, parallel channel) develops between @108,5 and @109, you can either go short by putting an entry order around the previous support (now resistence) @109 ( more agressive ) or wait for the reversal to confirm itself by breaking @108,3 level . Either way, my aim is for the price to touch the trendline mentioned before with the first target on the way there being @107,62.
If you have any questions, feel free to comment or get in touch.
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
DXY bearish divergencesThe DXY is approaching a meaningful trend change! Don't be fooled by the Fed, the USD will soon reverse course no matter how much the federal reserve wants a strong dollar, the fiat currency seems to be approaching extreme overbought territory on the weekly chart on every momentum and price oscillator I could find. Be on the lookout for risk on assets to reverse course, crypto, stocks and precious metals will benefit from imminent DXY weakness.
The Cleaner on EURUSD! Narrative :
Last week the NEWS generated a HUGE repricing and caused the market to drop that left a huge imbalance that hasn't been cleaned up yet.
Imagine paying for a 5 star Hotel and you get to it and it's a mess from the last occupants who were a Rock Group that celebrated a vey successful tour:)
Well this week is brand new and the market would want to clean up all imbalances before the inevitable DROP I believe is coming Mid Week.
Fundamentally the writing is on the wall for the EURO unfortunately. The DXY is still in orbit and this drop is only temporary to clean up the imbalance it left when it took off like a rocket during that news day last week. But after the clean up I see the DXY Soaring because the Dollar is still SUPER INFLATED! Thus Euro will Fall deeper into parity. #SniperMarketMechanics
All of that said: the potential dip in the DXY is adding more confluence for this ride LONG on EURUSD.
To add even further confluence to this ride NORTH is: All imbalances and liquidity voids have been pretty much cleaned up on EURUSD. So it's a very great assumption that the algorithm will hunt the STOPS above since it ate pretty good down south!
As always Never Over Leverage. The Forex market isn't a get rich quick space. But over time through proper risk management aka NOT OVER LEVERAGING your accounts will grow like an OAK TREE.
Trust your set up. Give the narrative time to manifest and fall into the script.
Have Fun! It's a new week and new gains are on the horizon!
I AM Pro Trading Made Simple. Master Jedi & Sensi of #SniperGang --- EVERYBODY EAT$
DOLLAR INDEX DXY BULLS FAILEDIn the dollar index price is making double top ar 110.15 and drop to test its strong trend line support area 109.60 level . Now if price break this trendline support than we see the more drop in dxy and price and coming to test its next level of support area and fill the gap down of previous week.
After the breakout of market structure the strong trendline support wait for the restest of this level as a resistance than we see bearishness and selling pressure in dxy price towards the next level of interest 109.00 and 108.84/
2nd scanario|
IF DXY respect its level of support trendline and market structure than wait for the breakout of 109.80 level friday last pullback area high and than good trade setup for buyers and dollar index is push to upside to test friday high 110.15 and this month high 110.62/
NEWS NEWS NEWS! EURUSD Headed NORTH Finally!Narrative:
News News and More News will cause for a very Unpredictable ride in this 7 Trillion $ space known as FOREX.
Nevertheless we ride all waves: the trends as well as CONSOLIDATION. Why? When you trade with the Bias aka Trend; after the dust settles; you'll always be on the RIGHT side of Hi$TORY.
The 13th News driven DUMP was nothing short but AMAZING! Those Long candles created on New$ days create Great opportunities to catch the RETURN TRIP for the Premium Price as well.
Yesterday the 14th we experienced delays on the 1st Class Trip North due to heavy NEWS. Price stalled and had to return due to weather aka NEWS:)
Nevertheless we know when HUGE Imbalances are created they normally are retraced 45-50% minimum if not MORE.
The DXY 4hr is Cleaning up the swings and headed to fill that huge imbalance it left on the 13th as well. We use the DXY as our #1 Indicator because it is the Ying to EUR's YANG.
Add all of those Real Time Confluences together and you have a very High Probability Trade with Low risk as you can see indicated in this Beautiful Chart.
As always Never Over Leverage.
Trust your trade set up. Especially on trades that you stand to profit MAJOR PIPS. The algorithm's job is to STOP HUNT to make the narrative interesting.
Most importantly HAVE FUN. What other space you know where you can make as much $ as you want every day?
I AM Pro-Trading Made Simple. Master Jedi & Sensi of #SniperGang
EVERYBODY EAT$
dxy doller down trend be care full Description
WELCOME TO MY CRYPTOCURRENCY BLOCKCHAIN CHANNEL GUYS!
My name is Rana Tayyab and I'm a software developer, influential Blockchain and Cryptocurrency Investor, Advisor from Pakistan. This channel is all about cryptocurrencies and the blockchain technology.
Subscribe if you want to learn about the Cryptocurrency market in a fun, entertaining and easy to understand way! You will also learn how to trade and invest in it, learn how I conduct technical analysis on charts, coin analysis & ICO analysis.
Hope you enjoy watching!
Stay upto date with latest cryptocurrency news and updates and Trading Signals
DXY (SHORT) 🔥🔥🔥ENTRY OPPORTUNITY
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck
US Dollar index forecast ahead of CPI US dollar bulls have seemingly halted their accension as they wait for the U.S. inflation data that is due this Tuesday.
The market is predicting that August's headline CPI may edge lower by 0.1%, further strengthening the case that US inflation has peaked.
Even so, it is said that the US dollar has priced in an 85% chance of a 75-basis-points rate hike from the US Federal Reserve next week, Wednesday. Fed chair Jerome Powell has reiterated several times over the past few weeks that the central bank is not yet looking to taper off the pace of their rate hikes.
Looking at the current price action solidifying ahead of the CPI, the DXY pulls back after the RSI reaches above the 70 level, highlighted in the circle, signaling that the price is overbought. The dollar index fell to a one-week low of 108.900, just below an area that has recently acted as a pivoting point.
The wick from last week’s last candle suggests that a demand zone might be causing a firm rejection below 108.900, at least until the CPI data remains unknown for the next 48 hours.
It may be too soon to say that the upwards momentum has been disassembled. As such, the expectation of a bullish push is still in play, and the price may still reach targets suggested by the Auto Fib Retracement Indicator. Targets in play include last week's peak at 110.700, and 111.950 a little further afield.
The DXY price closing within the plausible demand zone at 108.000 - 109.000 will open the DXY to bearish price targets indicated on the chart, including 107.300, 106.750, and 106.200.