Dxysignals
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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#DXY ANALYSIS.. DOLLAR READY FOR GLOBAL RALLY.. #DXY is preparing to rewrite a story in its historical cycle..
Looking at the #DXY monthly chart; We can see that #DXY movements have been in a wedge pattern for many years. The point I want to draw attention to here is that # DXY is a well-functioning historical symmetry in the market cycle.. Local peaks in Wedge pattern usually appear in February, while local bottoms usually appear in July.. After the #DXY has left the wedge patter, we can say that it has done a very successful retest, as I mentioned in the chart, the dollar looks absolutely ready for a long-term serious rally on a global scale.. I think that we will experience a period in which the currencies of developing countries will be badly damaged in the coming years, we will wait and see..
To summarize briefly, I am waiting for a pattern in dxy that I mentioned in the chart.. Also, I think that historical symmetry will continue in the market cycle..
Disclaimer: Please do your own due diligence when it comes to trading.. Invest at your own risk..
I wish you all the best..
US Dollar Index - Market ShiftMarket Shift has occurred on the DXY during the last quarter of 2018 with equal lows at 93.20 being run to take out short stops. A retracement higher throughout 2019 saw price struggle to move higher to the 100.00 round figure number.this being 61.8% retracement of the previous swing. We had a entry confirmation on the SAR and ADX confirming to go short with a pivot a 96.00 level.
My first Target is below the 88.50 level as this is location where a large number of short stops are placed (Liquidity pool). Any traders long from the 80.0 level would have move their stops below this swing low at 88.50.
Price will want to sweep through this area to take out long positions.
My second target is into the 79% fib as this aligns with an order block and test the top of the previous range at the 84.00 level.
What does this mean for all USD pairs?. We should sell off over the next 6 months to a year, for all Forex pairs that have a quote currency as USD.
#DXY, Red Week?If you thought the dollar was on its way to a new high, think again!
Last week, the dollar was on a strong uptrend until it stopped at the resistance line at $ 98.3 and started to fall.
The Stochastic also indicates a trend change or a trend ending.
The Ichimoku Cloud Indicator changed to a red cloud meaning a bear cloud
Target: 97.5
#DXY, The negative momentum will continueA bearish trend on the daily graph according to the Ichimoku Indicator.
The dollar failed to generate upward momentum and returned to fall, the dollar entered the range between 95.4 and 97.4, because of our proximity to the resistance line and the other reasons stated above our recommendation is to sell.
Target: 96.2
Forecast for the coming week #DXYSince last week the dollar broke resistance but failed to keep up the momentum, the dollar weakened and dropped back to support line 97.4.
The area where the dollar stops is also supported by the yellow line (200 moving average line).
The Stochastic is in a bullish position on the daily graph.
The dollar is trending up in the daily graph.
Bullish signal with a target: 98.3