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Dxysignals

DXY Possible Double Top formation and rejection lowerThe U.S. Dollar Index got rejected yesterday on the 96.900 Resistance, having made what is so far a Double Top. Technically a rejection follows after such a pattern but this time the pattern is spoiled by the pivot trend-line which provided today support and a bounce, as it did on November 30. As long as those two (Resistance and Pivot) hold, the price will be trading within this Triangle formation. A recent long-term analysis I did on the DXY, comparing the current situation to mid 2018, shows that the index is overbought and calls first for a sizeable correction before resuming the uptrend: Under those parameters, keep an eye on the underlying Channel Up and if it breaks, the target 94.000. If that breaks too, then the correction should aim at the 1D MA200 (orange trend-line), which has been untouched since June 17. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:DXYShort
by TradingShot
3
DXY is pressing higherAfter reaching a high of 97, DXY has started to correct and, after a few days of correction, the index has started to consolidate in a tight 0.5 points range. Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high. My target for the index remains 100, and traders should look for opportunities to sell rallies in EurUsd, GbpUsd, AudUsd and NzdUsd. A drop under 95.80 could mean that the index has further to correct and expose 94.50 very important support. Overall USD is strongly bullish on medium-term and the safest way to play it is to buy it low.
TVC:DXYLong
by Mihai_Iacob
13
U.S. Dollar IndexThe weekly price chart below shows the U.S. Dollar Index printed a bullish candlestick last week, again making its highest weekly closing price in over one year. The price has broken above the level at 12238 which I had identified as key resistance, although the closing price was not high enough to be very confident this resistance has been invalidated. The price is above its levels from 3 and 6 months ago, which shows that a long-term bullish trend in the greenback is present. Generally, these are bullish signs, and are supported by the risk-off market environment being at least somewhat supportive of the greenback. The best strategy in the Forex market over the coming week will probably be to look for trades long of either the USD or the CHF or JPY.
TVC:DXYLong
by SmoothJB
DXYDear traders, as I said on last weeks .. 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 THIS WEEK... DXY still keeps the premises of forming a pattern that it has been following since May 2020! Just like I told you, DXY is in a very difficult area and even if it can force you and reach the 97480 area ... I will look for SELL in the next period NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
TVC:DXY
by BloomFX_SIGNALS
3
DXY tethering in the balance. We favour the upsideThe dollar index is holding the top of the channel and could break to the upside anytime from here. If in the off case, the macro sentiment changes, the price could break back down into the channel. BULL CASE Our price targets last week of 97.5 stands, price looks good at these levels if you can enter once market opens next week. BEAR CASE If there macro situation clears up and there is clarity on when the fed will raise rates, we should see price drop to 94.2. I'm less in favour of the bear case.
TVC:DXYLong
by IkanBilisCapital
1
DXY Head and Shoulders may lead lower. Levels to watch.My most recent analysis on the U.S. Dollar Index (DXY) was a long-term one comparing the current situation to mid 2018, plotting a potential long-term Channel Up for next year but calling first for a sizeable correction: This time I bring you back to the 1D time-frame where my call for a shorter-term correction may be taking shape after all, as DXY seems to have formed a Head and Shoulders (H&S) pattern (which is a bearish reversal formation). That leaves us with 2+1 potential downside targets: 1) If the underlying Pivot trend-line (green dashed line) breaks, then I expect DXY to seek the bottom (Higher Lows trend-line) of the Channel Up as shown on the chart and potentially make contact with the 1D MA50 (blue trend-line). 2) If a 1D candle is closed below the 1D MA50, then I expect further downtrend towards the bottom of the blue Channel, which I expect to be the dominant long-term pattern as we move forwards. 3) If that breaks too however, I expect one final bearish target on the 1D MA200 (orange trend-line) and the 0.786 Fibonacci retracement level. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:DXYShort
by TradingShot
1
DXY- A lot of bullish confirmationsSince 10th November, DXY has become strongly bullish with the index breaking above VERY IMPORTANT 94.60 resistance. If we look at a longer daily chart we can easily see that at this moment we have a major shift of trend and DXY has a lot of bullish confirmations, starting with this break, but also with a double bottom in 90 zone and, after the second bottom in June, a lot of higher lows and a major rounded bottom break. I expect USD to remain strong for the rest of the year and 94.60 is now strong support Rallies in EurUsd, GbpUsd, AudUsd and NzdUsd should be sold
TVC:DXYLong
by Mihai_Iacob
26
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 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
TVC:DXY
by BloomFX_SIGNALS
DXY 1W RSI hit its 5 year Resistance. -3% correction expected.The U.S. Dollar Index's long-term Cycles aren't a mystery. I've posted quite a few analyses on its long-term cyclical behavior including those below: This time, having broken above the 1W MA200 (orange trend-line) and all short-term patterns, it is time to look at the long-term indicators once more. The most important of those is the RSI on the 1W time-frame, which has just hit the 70.000 Resistance that has been holding for +5 years. As you see every time the RSI hit that level (red arrows), the price pulled back. In December 2016 it was the peak of that Cycle while in August 2018 it was the first pull-back within a Channel Up that lasted for more than a year. That most recent pull-back however was initiated on the week that followed the RSI 70.000 peak. It is therefore possible to see DXY making a Higher High early next week and then start pulling back. A -3% pull-back from a new emerging Channel Up Higher High would place the correction around 93.550. If however that escalates to a larger correction, we'll have to wait and see the 1W MA50 (blue trend-line) to confirm that. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:DXY
by TradingShot
2
DXYDear traders, as I said on last weeks ... DXY went down but did not reach my target in the 93200 area ... and went up again in the strong area from 94250 from where it rejected ... in the next period I will continue to look for an entry on SELL to the mentioned area but any closure even for 1 day over 94300 ... will make me enter BUY up to 96300! THIS WEEK...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 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
TVC:DXY
by BloomFX_SIGNALS
1