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$DXY | SilverEdge Insights |Technical Confluences: Price action is in Oversold conditions in the Daily and Weekly Timeframe. Likely to see some consolidation of positioning here. Price action broke out of an Upward Sloping Parallel Channel and cleared itself out of the that Interest Zone too. Likely will see a test to re-enter that Channel due to Oversold conditions. Elliot wave count shows it is trying to compete Wave C (expected target would be to 71% Fibo Extension levels - possible to test the 100% Fibo level) A new Downward Sloping Parallel Channel is in play now and Price action needs to see it break the mid of the Channel to see a substantial move downwards Fundamental Confluences: With the expected cuts, market started unwinding their long USD positions and it is reflected in the TVC:DXY The extent of Wave C will really depend on how quick and reactive is the FED in cutting rates (the higher chances of 50bps cuts; the likelier we will see USD get sold. Building into next week, we are likely to see some traders cover their short USD positions as they size down before NFP data. However, if there is any gyration on the geopolitical front or US elections, it is possible to see the TVC:DXY reverse back to the top of the Downward Sloping Parallel Channel and top out at the Interest Zone area again
INDEX:DXYShort
by weekendanalyst
DXY is under 102.00 what now?(08/20/2024)DXY finally hit our target under the 102.00 zone. Since 1 August, DXY has dropped continuously. Right now we are looking for a reversal pattern near the 101.4-101.8 zone. our view has been negated if the price breaks below the 100.650. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
TVC:DXYLong
by fortunamarkets
DXY is moving lower**Monthly Chart** DXY monthly candle closed as bullish. This month's candle (still active) reached the supply zone last week around the 106 level and bounced lower from it. Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD. **Weekly Chart** Last week's candle closed as a bearish engulfing suggesting a reverse trend lower at least to test the demand zone around the 104 level and then moving lower to the 103 level. **Daily Chart** This week, DXY is expected to have a corrective wave structure and consolidate before continuing the downward movement. There will be a release of monthly and yearly CPI on Thursday which can provide some strength to USD.
TVC:DXYShort
by PropSignals
1
8.14 USD Trend AnalysisCPI is lower than expected, gold falls off a cliff, can the US dollar survive the desperate situation? Today, the US seasonally adjusted CPI annual rate for the end of July was lower than expected. With gold and silver slightly bullish, gold price fell from a high of 2474 to 2050, a drop of 24 US dollars. Everyone knows that if gold price falls, the US dollar will rise. Gold price currently lacks momentum. The war in the Middle East is still unclear. It may continue to fall. Will there be new entry opportunities for the US dollar? What do you think of this view? Welcome to comment below
TVC:DXY
by David_strategy
US dollar market trendYesterday, the deputy governor of the Bank of Japan said that "the market is unstable and there will be no interest rate hikes". This is a relatively "dovish" statement. In addition, the upcoming September interest rate cut conveys a good opportunity to enter the market. That is, the US dollar will still fall. Although the market is narrow today, the US dollar continued to rise at the end of the trading day, but it should not last long. Personal analysis: looking for high points and shorting
TVC:DXYShort
by David_strategy
Looking for reversal in DXY under 102.2 zone(8/5/2024)In our last analysis, our prediction played well, the DXY corrected to 103.7, and after NFP data reached 102.7. With the fear of recession and NFP data, We are expecting DXY to retest the 102 zones. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
TVC:DXYShort
by fortunamarkets
Will the dollar continue to fall?Market trends and analyst Ang Kar Yong, according to the CME Fed watch Tool, the market currently expects the Fed to cut interest rates in September with a probability of nearly 100%. Overall, the market expects the Fed to cut interest rates twice before the end of the year. If the July non-farm report is lower than market expectations, the unemployment rate rises and/or average income growth slows, the probability of the Fed cutting interest rates more than twice before the end of the year will increase. This will undoubtedly bring additional bearish pressure to the US dollar index.
TVC:DXYShort
by David_strategy
DXY Q3 bearish bias confirmed. Quarterly: Based on the Quarterly theory this is Q3 of this year 24, & Q2 was the manipulation of this year, which has been formed upside, So the Q3-Destribution the price will go down whole August-September 2024, Draw on Liquidity: If I draw a FIB from the last year low to this year high the OTE Level is around 102-389 to 101.917. levels. So we will check any monthly PDA in this levels for the DOL, for the price. Weekly: As there was 2 W-FVG- 's bellow the PQM level's so POI of price revarsal was that 2 W-FVG- 's for revarsal. Now before the NFP Day, there are a possible W-SMT has been forming, So this confirmed me that the price is giving us a sign of revarsal. We need h4 confirmation for that to be more clear. H4: In this H4 the price has formed a bearish H4-Breaker/Unicorn formation, which is a strong sign of revarsal, in a W level of POI, which gives me farther confirmation that in the up coming week the price will move lower. So when all this 4 analogy 1. Quarterly Q3, Bearish analogy, 2. W-FVG- as a resistance, 3. H4-Bearish Breaker, 4. W-SMT in W-FVG- When placed all to-gather in the chart, it gave me a confirmation that the DXY is going down up coming 2 months.
PEPPERSTONE:USDXShort
by Trader_PKR
US economic recovery, good news for the global economyDXY: The USD index last week maintained an accumulation status around the 104.10-104.50 range and has not broken out yet. It is likely that the market will need information from this week's FOMC to have clearer trends. In the short term, it is expected that today, DXY will continue to accumulate around this price range, so you can consider buying USD when DXY retests 104.10. -- On July 25, the US Department of Commerce released a report showing that the world's largest economy grew by 2.8% in the period from April to June 2024 (twice as high as the previous quarter). This growth is considered solid, as the US Federal Reserve's (Fed) inflation control measures seem to be effective. Inflation, one of the key factors influencing the Fed’s monetary policy, is showing signs of cooling. The annual inflation rate fell to 3.2% in June, down from a peak of 9.1% last year. This development is believed to be the result of the Fed’s continuous interest rate hikes over the past year.
TVC:DXYLong
by TheLeader_WOLF
DXY declined when Biden withdrew from the White HouseDXY: The USD index in today's session has reacted to a decrease and correction right after the information last weekend. Showing a bearish outlook in the context of Biden's withdrawal from the white house. The scenario in today's trading session is that DXY is expected to continue to weaken. Ace, please consider selling with USD US President Joe Biden introduced the stop of his re-election marketing campaign on July 21 (US time) and nominated Vice President Kamala Harris to update him because the Democratic presidential candidate. In the assertion on This week, he's scheduled to present a public speech. Being your president is the greatest honor of my life. Although I intend to run for re-election, I believe that for the best interests of my party and the country, I should stop and only focus on completing my presidential duties," Mr. Biden wrote. A few minutes after the above message, he wrote another message supporting Ms. Harris. "I chose Ms. Kamala Harris as my vice presidential candidate in the 2020 race. And it was the best decision I made," he continued.
TVC:DXYShort
by TheLeader_WOLF
US stocks and bond yields increased sharplyLong-time period U.S. bond yields rose on expectancies that Trump`s rules could boom authorities debt and inflation, at the same time as cryptocurrency shares additionally rose together with Bitcoin. Trump has delivered himself as a cryptocurrency advocate. Investors say a Trump victory may want to imply greater tax cuts and a greater comfortable regulatory environment. The S&P 500's strength region rose 1.6%. Impact from assassination and hobby rates On making a bet web website online PredictIt, the agreement for a Trump victory become buying and selling at sixty eight cents, up from 60 cents on Friday, with a capacity agreement of $1. Contracts for a Biden victory had been at 26 cents. The assassination in Pennsylvania on Saturday of Trump regarded to enhance his election chances. The 20-year-antique attacker's reasons continue to be a mystery, with the suspect killed and the FBI not able to decide the intentions in the back of the attack. “The marketing and marketing round this occasion is offering a boost,” stated Josh Wein, portfolio supervisor at Hennessy Funds. “But in latest days the inventory marketplace has increased. So that is a continuation of a sturdy rally from the second one 1/2 of of remaining week while we found out that there has been purpose to rejoice the concept that there might be one and now probably price cuts in stop of the year."
TVC:DXY
by TheLeader_WOLF
Possible correction waiting for DXY(7/16/2024)DXY faced strong bearish momentum after CPI data. In the last few days TVC:DXY made a minor correction but the sentiment around USD is still bearish. We believe DXY continue its downward momentum until it reaches the 13.8 area. This area has a lot of liquidity, so maybe push the price to a little correction. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
TVC:DXYShort
by fortunamarkets
Selling pressure on USD is increasing and in the current contextDXY: USD index today is maintaining below 105.20. After consecutive drops beyond the support level, the USD is in a continuing downtrend Investors should pay attention to protect profits with BUY positionsShows that selling pressure on USD is increasing and in the current context, information about the US is getting worse, causing the USD to weaken. Regarding technical factors. Because it has broken out of the uptrend zone, it is expected that the market will have a slight retest of the trend and then continue to decline. You can consider maintaining a sell watch with USD today.
TVC:DXYShort
by TheLeader_WOLF
DXY: there will be a correction todayDXY: The USD index yesterday fell sharply, penetrating the support zone and creating a head and shoulders pattern that can be clearly observed in the H1 frame in the context of negative information focusing on the US yesterday. And the FOMC meeting somewhat supported the USD's adjustment, but not significantly. Regarding technical factors this morning, DXY tested the neckline again, so it is likely that USD will continue to decline today. Consider maintaining a short position with USD.
TVC:DXYLong
by TheLeader_WOLF