Dxyshort!!!!!!!!!!!!!
DXY Descent Alert: Path to 102.800 - 102.280Update on DXY's Movement:
The DXY has hit our projected targets in DXY Rebound Alert: Prepare for the 104-105 Swing and completed its last wave in a WXY pattern, with a truncated Y wave.
Following this, we've observed a downward trend, with the DXY breaking through the main price channel. We anticipate a decline from the current area to the Fibonacci levels of 0.5-0.618, positioning the index around 102.800 to 102.280.
Immediate Outlook:
A closer inspection of the monthly chart suggests a sideways movement within the 103.500 to 104.450 range until the end of February, after which we expect the DXY to descend towards our specified targets.
Next Steps After Target Achievement:
Once the DXY reaches our anticipated Fibonacci levels, the crucial question will arise: Is this descent indicative of a broader reversal, potentially driving the DXY below the 100 threshold, or is it a temporary retracement in anticipation of a subsequent rally that could propel the index above 107? This determination will be essential once we hit the specified target range, guiding our subsequent analysis and strategic approach.
Invalidation Point:
Our analysis would need reevaluation if the DXY breaks and closes above the monthly trend line. It's essential to wait for a retest of this break to confirm its validity. Such a development could alter the current outlook significantly, necessitating a strategic reassessment.
take a closer look on the 1M Frame chart below:
DXY - 4h - NEW UPDATEDXY - 4h - NEW UPDATE
Nothing bearish for now on 4h.
Testing resistance zone now.
US dollar index fluctuates and rises
Although the US dollar index will temporarily come under pressure at the central axis of 104.2 today, this central axis cannot be suppressed. There is a high probability that it will break upward and test the pressure position of 104.5-105; keep the slow bull trend moving upward! Therefore, yesterday’s transaction was also a huge profit! Those who were long in the US and Japan, and short in the Euro and British Pounds, all made a lot of profits!
U.S. dollar index: 1: The golden cross of the stochastic indicator of daily K is upward, which is the main bull signal; it is recommended to remain bullish; in terms of form, the continuous positive trend is upward; the central axis support position is around 103.6; in the short term, the bullish rise continues; 2:4 During the hour, the stochastic indicator is temporarily in a passive state, with a slow bullish upward trend; the support position is around 103.6;
To sum up: the short-term trend remains bullish during the day, and it is recommended to continue to choose to go long on dips. At the same time, it is bullish on the United States and Japan, bearish on the euro, and bearish on the pound; gold needs specific analysis and treatment;
In terms of data, the Fed is expected to keep interest rates unchanged at around 5%; Powell's attitude is more hawkish
DXY Index will Go Down to next Support zone✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴.
🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢.
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks .
🔔After breaking the 🟢 Support zone($104.30-$103.89) 🟢, I expect the DXY index to continue declining until the next 🟢Support zone($102.86-$102.420)🟢 .
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.
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DXY Weekly Analysis "The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559.
However, reaching 99.559 might face resistance due to a "shield area," which could potentially cause the DXY to struggle on the downside. It's possible we'll witness the DXY lingering around the red shaded area at 101.910 for a while. If the price breaks below this level swiftly with large downward candles, we anticipate further downward movement towards 99.559. Otherwise, if it fails to break below 101.910, we'll provide an update accordingly."
DXY BEARS COULD RETEST 103.000 I often talk about the power of looking over our trades for those highs and lows over time, not because we can not trade but because we can be dynamic.
Well to put it simply, I am bullish on DXY this year but price failed to break above 105.00 and 104.000 respectively..
Price seem to be unfolding to bring about something beautiful on the chart, this might just be what we need, the world seem to always give us what we ask for, and instead of accepting the continuation of my previous bias, I accept the evolution of my self and for my sake and the world, I am not afraid to share this.
dxy short . long term investas you can see dxy could possibly see one of its worse days. the first trigger for shirt has been passed and it wont stop that easily until 50. most likely it would stop there or become sideways but if it can break that support, it can go till my last tp :). but i think its less likely.
DXY Likely Scenario Given the time of the year, DXY is likely to keep a small range until FEb.
Possible 104.5 - 105.0 by December END.
Then Sells to begin the year toward 102 - 101.50
Not financial advice.
These are my opinions.
EU Daily ViewEU Liquidity taken out and we can expect buy momentum till extreme POI Mitigation. Once price mitigate the extreme POI and create any reversal indication then we can sell for longer term.
DXY INDEX PULLBACK TEST TO DOWN hello guys iam here to share my idea about dxy index , please give your suggestion what do you think about dxy down or up ,?
As a professional trader, I'm observing a potential short-term downtrend in the DXY index, targeting a decline of approximately 200 pips from 1.3600 to 1.1400. However, before initiating this downward move, I anticipate a retracement upwards, possibly ranging between 100 to 150 pips. This retracement could offer an opportunity for long positions before the index resumes its downward trajectory, providing a chance to capitalize on potential gains before the sell-off.
It's important to maintain a disciplined approach and wait for confirmation of the retracement before considering entry points for long positions. Additionally, closely monitoring market conditions, including key support and resistance levels, as well as fundamental factors influencing the index, will be essential for successful execution of this trading strategy.
DXY IndexPair : DXY Index
Description :
ELLIOT WAVES - " 12345 " Impulsive Waves and " AB " Corrective Waves Completed
Retracement for BREAK OF STRUCTURE
BEARISH CHANNEL as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line and Retracement
FIBONACCI LEVEL - 61.80%
Divergence in RSI
DXY: The USD kept its weekly rise ahead of the Fed's decisionThe dollar edged higher in early European trading on Wednesday, heading for its biggest monthly gain since September, while the euro edged lower after weak inflation data.
At 04:45 ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 103.352, on track for more than a gain. 2% this month.
Dollar demand has been buoyant this month as traders trimmed expectations for when the Federal Reserve will start cutting interest rates due to strong U.S. economic data and reaction from central banks. naughty.
The greenback was also supported by escalating geopolitical tensions in the Middle East, which have weighed on risk sentiment amid fears of a broader regional conflict.
The US central bank is expected to leave interest rates unchanged, and so the focus will likely be on Fed Chairman Jerome Powell's post-meeting press conference to see if he will signal a cut.
Analysts at ING said: “With US data releases - most recently December JOLTS data showing expanding employment opportunities - there appears to be little reason for the FOMC announcement tonight prompted the market to price in well above the current 130 basis point rate cut this year.” in a note. “This would be a neutral/positive development for the USD.”
There's more labor data to study on Wednesday, in the form of ADP Private Payrolls for January, ahead of weekly initial jobless claims on Thursday and then broad data on Friday. - viewed monthly salary reports.
The DXY Anomaly: Interpreting the Incoming CorrectionThis week's focus is on the potential for a minor retracement in the DXY (U.S. Dollar Index), highlighted by a noticeable bearish divergence when compared with the 10-year Treasury yield and the 10-year T-Note futures. This divergence is particularly significant as it suggests a weakening momentum in the dollar's recent uptrend.
While both the 10-year Treasury yield and the 10-year T-Note futures have succeeded in setting new highs, the DXY has not followed suit, failing to create a higher high. This disparity indicates that the upward movement in the 10-year Treasury yield and the 10-year T-Note futures could be attributed more to a liquidity-driven event rather than a fundamental change in market sentiment towards the dollar.
As a result, we can anticipate possible bearish movements in forex pairs where the dollar is the base currency in the coming week. Conversely, in pairs where the dollar is the quote currency, there could be bullish movements. However, it is important to note that these expectations are also contingent on the performance and dynamics of the counterpart currencies in these pairs.
Traders should monitor the DXY for early signs of a reversal and adjust their positions accordingly, keeping in mind the broader implications of a weakening dollar on various currency pairs. As always, a comprehensive approach that considers global economic news and geopolitical developments will be essential in navigating the forex market during this period of potential dollar retracement.
DXY DAILY RISING WEDGE PATTERNDxy rising wedge pattern is squeezing smaller each day. We are expecting it to break out to the downside withing a few days to short the dollar. This is a great time to look at PA on some major pairs.
#dxy #elliottwave short wave c/3 20Jan24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
DXY 103.176 - 0.06% SHORT IDEA HTF BIAS 🐻🐻🐻HELLO TRADERS
Hope everyone is doing great 🛑 New week new opportunities
A look at the DXY ahead of the new week 👌 MULTI-TIMEFRAME ANALYSIS
DXY DAILY
* We see the 78.6 % FIB level holding in the past week.
* Looking for signs of some bearish momentum for continuation with the bears.
* The DXY is currently trading in PREMIUM.
* Any signs of bearish momentum would Signal Bearish moves for the week that is.
* Bullish momentum changes the Bias for the week & possibly signals reversals
DXY 4H CHART
* We see rejections at the VI holding.
* DXY failed to take the high on Friday, signaling possible weakening of the bulls.
* Looking at the small FVG above to hold and reject.
* This would be one of the confirmations for some Bearish moves.
DXY 1H TIMEFRAME
* On the 1H we see that the 4H FVG does not align with premium.
* But we find a -OB just above this zone on the 1H
* Looking for rejections at this levels.
* For a bearish week.
HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOURS BELOW🛑
lets see how it goes.
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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LOVELY TRADING WEEK TO YOU!
#dxy #elliottwave short wave y 16Jan24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
#dxy #elliottwave short wave c 13Jan24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Bearish potential detected for UUP & DXY (ie --> USD weakness)Following US dollar strength looking at DXY during the final hour of trade this morning on the US markets, both DXY and UUP represent a potential bearish opportunity should momentum continue and lower highs and lower lows be made past the current position, aligning with technical indicators of RSI and DMI. Personal stop loss for the trade would be the high of the chart formation on 03-Oct (i.e.: above the high of $30.07 for UUP and $107.348 for DXY).
Is the DXY in a long term downtrend? DXY Downtrend
The 6 month candle chart suggests we could be in for at least two red quarters which would suggesting positive markets..... which seems contradictory to the current sentiment BUT not the current charts (S&P, NASDAQ,etc).
The weekly chart currently shows the critical resistance at $1.00 and we appear to be heading straight for it.
I genuinely think that given the 10 month SMA turning to the downside will act as resistance and the three tests of the underside support may puncture the resistance and lead to further downside.,
As always there are no guarantee's but the DXY chart in my opinion currently looks bearish long term.
I am currently looking at a time based analyses at the which will follow
Time will tell
PUKA OUT
