Dxysignals
DXY - BIG MOVESPreviously at the marked level of support price shot up through a level of resistance and all the way to the second level of resistance
I anticipate the same thing happening again.
I placed a buy last week and price shot up only to come back and test support BUT i see price shooting off again to the moon
Short $DXY against 98.00Hello Sophisticated Trader,
Our long DXY from Last week did go and test resistance. This coming week, the $DXY has seemed to test a double top and is likely to test the bottom back at 96.25. So, I'm looking to short the DXY for a test of the bottom of the current range to find support for the month ends.
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Dr. Lydia Smith
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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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Dr. Lydia Smith
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DXY Weak? Monthly Chart shows the oppositeWe are at the moment on a major DXY sell off, It might look like it will continue to crash, but monthly chart shows a different story, we are just at Wave D, with Wave E being final rally for Dxy to 110 area, until the moment Dxy respected the trendline, support at 96.40 will decide the continuation of uptrend of break to the downtrend.
This is pure technical analysis but some other major factors such as stocks being in uptrend for months now also can support this since they move opposite, and we can probably see another sell off at stocks on a next liquidation phase.
DXYthis is what I am thinking guys, dollar wants to test 101 and will probably bust thru which is bearish for oil and stocks and crypto.
Now even if we do not have the A gym Triangle in play we can see clear levels of S/R in play and 101 is up next.
if this is actually the bullish case then this will be the 3rd attempt in a couple of months to break this level which as we know the more a level is tested the weaker it becomes.
Also we have clear HL HH on all TF's. I stay bullish on dollar demand bearish on everything else.
DOLLAR INDEX Buy SignalPattern: Rectangle on 1D.
Signal: Bullish as a candle of such strength has led to a new (Lower High) within the Rectangle on all 3 previous occasions.
Target: 100.80 (Lower High on the dashed line).
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