Clear skies ahead for the DXY.The DXY looks set to continue to trade in a ranging motion to the upside as this is a historically messy region. It is likely that the price will continue to trade in a random walk manner with no clear direction until it breaks out of the 95.8 to 97 range. My guess is that it will break to the upside for the final wave 5 impulse so look out for that. I'd cautiously long the DXY at these levels, otherwise a larger entry on a pullback or entry on a breakout would be much preferred.
Dxyshort!!!!!!!!!!!!!
One more drop before Take Off??Hi Traders,
Friday's volatility caused some massive sell offs across the board, especially with JPY pairs. The US dollar gained some momentum but in my opinion, it's short lived. We had a strong Impulsive push down from the upper boundary of the ascending channel and now price has sinve been consolidating which I feel will drop to the previous low before heading to the mid 97.00 range.
Anything can happen, follow your trading plan and trade safe.
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DXY | The best target for climbing📍Hello traders, Dollar Index ( DXY ) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the wave count that was performed at higher times, a leading trend was formed and from this trend, waves 4 and 5 remain.
Wave 4 was originally intended as a flat, but wave c, which we identified in the count now, did not look like a leader, and we assumed it to be a triple zigzag .
So the count has changed to triangle and from this triangle the waves a, b and c are complete and now we are inside the wave d.
From wave d, wave a continues to form.
Wave a has formed its waves 1 and 2, but what is in doubt is wave 3.
The main wave 3 has completed its 1, 2, and 3 microwaves, and in the case of waves 4 and 5, we assume that wave 4 is triangular and wave 5 is not yet formed.
We think this uptrend for wave 5 will start after a short decline.
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DXY EXPLAINED 📉📉📉🎯 DXY - USD Index
USDINDEX - The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies, this index helps us to understand if USD is bullish or bearish on a short term or long term perspective.
🎯 DXY has two correlations one of them is positive meaning the certain assets moves like DXY and negative corelation meaning certain assets move exactly vice-versa.
✅ DXY Positive Correlations
DXY ⬆️
USDCAD ⬆️
USDJPY ⬆️
USDCHF ⬆️
USDRUB⬆️
USD XXX ⬆️
✅ DXY Negative Corelations
DXY ⬆️
EURUSD ⬇️
GBPUSD ⬇️
AUDUSD ⬇️
NZDUSD ⬇️
From a technical standpoint to have a better probability in your trades try to find entries when both DXY and for example USDCAD are in long poi (point of interest) this will increase your chance of having profits as you use inter-market correlations
DXY$DXY conclusion is we are in Wave A which is almost finished while #cryptocurrency r also in A wave up , soon B wave down to #Crypto will start with B wave up to $DXY then final c wave down to $DXY to complete wave 4 on minor TF and also C wave up to $BTC will finish.$DXY finishes W5 around $100 unless we get a truncation.
Fact is DXY remains inverted to the cryptocurrencies and can always be used as a counter indicator.
EURUSD RE-ACCUMULIATION TO CONTINUE LONG After the weekly close last week on EU I am looking for it to continue bullish off the yearly open price. Might even re-accumulate a little lower around 1.3500 big figure. I for-see a major correction coming and CPI this Thursday could be the catalyst to sustain this rally.
DXY- Is this a double top?After reversing from the very strong confluence support at 94.50, DXY made a new high above 97.
However, what should have led to continuation proved to be a false break and we have an Evening Start candle formation which marks strong resistance.
Yesterday the index also has broken down under the ascending trend liner and now is facing support on what can very well be the neck-line of a double top.
A break under this support would give us confirmation for the pattern and could lead to further losses towards 92 support.
DXY 95.31 - 0.7 % SHORT IDEA * CONTINUATION PTTNSHEY TO EVERYONE WHO SEE THIS
HOPE EVERYONE IS DOING GOOD HAVING A GOOD
SOME OPPORTUNITIES IN THE COMING WEEK.
LOOKING AT THE DOLLAR INDEX
* From the H&S the index has been on a down trend hitting LL & HL.
* Due to the bearish momentum looking for possible continuation towards the next major support level.
* The index already broke support level pushed up for a retest, rejection from this level will be the key for this set up.
lets see how it goes
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DXY | The last target to climb📍Hello traders, Dollar Index ( DXY ) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the wave counting done in higher times, a leading trend is formed and from this trend, waves 4 and 5 remain.
Wave 4 was originally intended as a flat, but wave c, which we identified in the count now, did not look like a leader, and we assumed it to be a triple zigzag.
So the count has changed to triangle and from this triangle the waves a, b and c are complete and now we are inside the wave d.
From wave d, wave a continues to form.
Wave a forms its waves 1 and 2, but what is in doubt is wave 3.
Wave 3 cannot be said to be over or still ongoing.
However, according to the channel related to this wave and the latest resistance to the bottom of this channel, wave 3 will probably continue and by breaking the range, it is determined that the end of wave 3 is from wave 3 to form wave 5 and up to around 97000 to 98000 This upward trend will continue
However, if the bottom of the orange canal is broken, I will consider the 4th wave to have started.
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DXY SHORTS 📉📉📉📉 On a mid-term perspective i expect bearish price action on this pair till price reaces bullish orderblock on d1 around 96.000 price takes out buy side liquidity and closes bearish on friday d1 after a huge bull run meaning bulls are losing momentum and bear are getting momentum on the london open monday morning. We will see bullish price action on XXX USD pairs and bearish on USD XXX pairs
What do you think ? Comment below..