USD Dollar forming double top?#usddollar, 15th Key reversal bar, next Insurance bar indication for short dollar. 105.55-60 resistance level for previous fall. High probability to hold this support to form double top. price may go rise up a little to catch stop losses of short traders. Target is 103.00.
Dxysignal
DXY create bearish butterfly pattern. Short BUY, long SELL
DOLLAR INDEX MY VIEW-
N.B-In this situation DXY chart short tram create butterfly pattern.
So, market seems bullish 102.220 AND 102.600 Resistance Zone. Then Sell SAVE.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
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January Forecast - Continue the rally ?Technically, DXY is still in bullish momentum. As long as the price stays above the 38.20% Fibonacci retracement, I reckon DXY will give one more push to visit 97.7. However, a price breakout and close below the 38.20% Fibonacci retracement indicate that DXY will fall deeper to retest the 50% Fib.
What we know so far, Powell signals rate hikes and balance sheet runoff, but yields hold steady, CPI 0.5% and Core CPI 0.6%, U.S. jobless claims rise by 23,000 to 230,000.
Invalidation:
- This analysis fails if the price breakout and close below 38.20% Fibonacci retracement
Catalyst:
- U.S. Sales data
- Manufacturing Index
- Unemployment claims
DXYDear traders,
as I said on last weeks ... DXY closed over the strong resistance at 94300 and climbed into an extremely heavy area!
even if maybe ... I expect it to go up a bit to 96300 ... I won't enter the trade unless it closes below 95100 this week
THIS WEEK... as I told you last week, DXY reached area 96300 from where it easily rejected!
in the next period I will look for SELL towards area 93 but at the first daily closing over 96,300 I will prepare for BUY until area 99 ... but for now it seems very unlikely
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Dollar Index: Still Bullish, But Below 93.00 May Change ScenarioDollar Index: Still Bullish, But Below 93.00 May Change the Scenario.
The US Dollar broke out of a brief downtrend in late September as the Federal Reserve signaled they might raise rates faster than expected.
The break was driven by proper motive and significant as it allowed for more years supply, fueled inflationary fears that have been present all year long to keep Treasury yield movements hot going into new deadlines on Wednesday night.
The US Dollar Index dipped to the three-week low on Thursday before bouncing off one-month-old horizontal support. Also challenging this DXY weakness is sluggish momentum and a 200-day moving average which has been in favor of buyers since reversing from its yearly top around mid-January 2019.
Sluggish market conditions pressured the greenback gauge but not so heavily. Still, it took bids near 93.50 during Monday's Asian session as traders await economic data releases later today that might spark renewed interest among investors who had initially sold their positions due primarily to inflationary pressure.
It's worth noting that the US Dollar Index portrays a short-term falling wedge bullish chart pattern on four hours chart. Hence, confirmation of this stated formation with an upside break of 93.70 may open the door for 94.50.
As long as DXY holds above 93.00, there is still the chance to test 94.50 again. But the market is still concerned about inflationary pressure, so breaking below 93.00 will create a selling opportunity for the DXY. We should not think about selling before breaking below 93.00 points.
Breaking below 93.00, our first target is 92.50. After that, we may see some upward correction from 92.50. On the other hand, breaking below 92.50 will open the door for 91.50 points. And final target to the downside is 89.50 points.
DXYas I said on March 21 ... DXY is in a strong downward trend and if for 1 week it rejected 3 weeks in a row from the Fibonacci 0.5 area, I expect it to continue the descent to Fibonacci 382!
...even if it climbed to the Fibonacci 786, DXY continues its downward trend we were talking about and will reach the Fibonacci zone 0.382 where it is a very strong area ... and even if it rejects and rises again to the 91,950 area ... the trend is in continue to descend!
...as I said last week DXY rejected from Fiboinacci 382 and closed under Fibonacci 0.236 from where ... even if it will go down a little to the area 89.800-89.300 I think it will start an ascent and will form a W
THIS WEEK...exactly as I said in the last 3 months DXY rejected from the 786 Fibonacci level and went down thus closing the Fibonacci chart that I drew 3 months ago!
From this area, I expect DXY to reject and start rebuilding the W I've been talking about lately ....
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GREAT ATTENTION:
*This information is not a Financial Advice.
DXY - FallingI think we will continue to fall!
What do you think?
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
USD INDEX Buy Opportunity, Next Target 96.00USD INDEX has been holding ground nearly 93.00- 92.50 points for 3 weeks. Breaking Above 94.00 may have buy confirmation. Since the middle of the march this year, USD INDEX has been dropping. So, an upside correction is expected. in the broad picture, DXY is in a downtrend and reached to its swing low area. So, we may see an upside correction to 96.00 points.
DXY Buy Stop @ 94.00
SL: 91.50
TP: 96.00
Long $DXY Analysis
Hello Sophisticated Trader,
The $DXY has finally broken above the 97.00 resistance and the 100 MA on the 4hr, this is indicating a possible move up for the bull for another test of 98.00 and possible 99.00. This is extremely helpful when trading, as the dollar index has become the main market driver. In addition, the renewed coronavirus fear most likely have an impact and support the DXY over the coming week.
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US DOLLAR CURRENCY INDEX (DXY) Monthly, Weekly, DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
Trades made when the monthly, weekly and daily arrows are pointing in the same direction are the most profitable.
This is not trading advice. Trade at your own risk.
Potential DXY Short 50 Pips Good Afternoon Traders, ForexFargo checking back in!
Today our analysis is on the DXY index.
The overall trend for this pair is seems to be Bullish, however with that being said, seems that the Dollar could run into some exhaustion this upcoming week.
Right now, we can see price playing ping-pong between Monthly & Weekly- Support & Resistance Levels.
Price is currently in Bullish Momentum approaching on Weekly Resistance Level of 96.700.
If Weekly Resistance is broken, we could see a potential push toward our Monthly Resistance Level of 96.930.
If price holds at our Weekly Resistance Level, then we can potentially expect price to decline throughout the week.
Price would potentially decline toward our previous Weekly Support Level of 95.600.
If Weekly Support is broken, we could see a potential push toward our Monthly Support Level of 95.050.
Either way, I am waiting for the next 2 daily candles to form in order to get a good sense of where the market could potentially go.
If price gives strong confirmation, then I will look to enter the trade as follows:
Entry @ 96.600
Stop Loss @ 96.750
Take Profit @ 96.050
GOOD TRADING!
If this price in DXY declines, expect a rise in Gold (XAUUSD).
Long on DXY based on Inverted H&S Chart PatternThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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