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Dxytrading

DXY: Highly overbought on 1D. Excellent short.The U.S. Dollar Index has turned overbought on its 1D technical outlook (RSI = 73.223, MACD = 0.950, ADX = 43.535) as the current weekly candle is only a few clicks away from the top of the 2 year consolidation Rectangle pattern. Even the 1W RSI (67.108) is about to turn overbought but has already reached the top of the 1 year R1 Zone. All the above create the conditions for the perfect long term short. Our target is the 1W MA200 (TP = 101.750), which supported the price during the bearish wave of July-August. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
1
DXY: Still bullish but be ready to sell at the right price.The U.S. Dollar Index is heavily bullish on its 1D technical outlook (RSI = 65.833, MACD = 0.380, ADX = 45.822) as it has been rising strongly since the Sep 27th Low, not over its 1D MA50. The price action is identical to the rebound that was initiated on December 28th 2023 and reached the 0.618 Fibonacci level only to get rejected there back to the 0.5 Fib. Consequently we will remain bullish, aiming at the 0.618 Fib and the 1D MA200 (TP = 103.850) and then switch to shorting aiming a little higher than the 0.5 Fib (TP = 102.500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXY
by InvestingScope
DXY: Some more downside is expected. Is it a buy after?The U.S. Dollar Index is on strong bearish levels on the 1D technical outlook (RSI = 36.538, MACD = -0.480, ADX = 39.006) as it is extending the Channel Down with a rejection today exactly on its top. The very same Channel Down was seen last October-December (2023) and declined by -6.25% before recovering. The buy signal was a DB (double bottom) on the 1D RSI. Consequently we will remain bearish on DXY (TP = 99.550) and only buy after we get a clear rebound (around -6.25%) and a DB on the RSI. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
DXY D1 - Long from 104.000 DXY D1 This really wasn't the expectation of the market open we were anticipating. Given the Trump assassination attempt, I was expecting some more market uproar, for US stocks to fall and XAUUSD to climb. As you would expect from typical risk off markets. The reason for this, is market uncertainty and follow up headlines. That being said, we are very early on in the trading day/week. Lots to come out this week, expecting a week full of volume and excitement. 104.000 has been the play for some time now. We simply continue this until this zone break and other trading ranges are formed.
TVC:DXYLong
by Trade_Simple_FX
DXY is turning bullish short term.The U.S. Dollar Index is coming off a three day rebound after the 1D RSI almost touched the oversold (30.000) level. Even though the 1D technical outlook is bearish (RSI = 35.930, MACD = -0.200, ADX = 51.582) this small reaction is most likely the start of a counter trend rebound like late June 2023, which reached the 0.5 Fibonacci level. Consequently we are taking a short term long, targeting a little over the 0.5 Fib (TP = 103.800). For the past 14 months, DXY has been basically consolidating. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYLong
by InvestingScope
1
DXY: Long term rebound expected.The U.S. Dollar Index has closed the week on a flat 1W candle, the first such since October 2nd 2023 on a marginally bearish 1W technical outlook (RSI = 43.488, MACD = -0.450, ADX = 30.953). The 1W RSI has rebounded on the S1 Zone forming a HL trendline and this gives shape to a Channel Up. This RSI formation is much like the bottom's of 2021 and 2018 as you can see on the chart. As long as the dotted HL trendline holds, we are long, aiming at the dotter LH trendline (TP = 105.500). If the HL breaks, we will short aiming at the LL trendline (TP = 98.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYLong
by InvestingScope
DXY: Under the 1W MA50 indicates a long term selling opportunityThe U.S. Dollar Index closed last week under the 1W MA50 for the first time since August and that signals the bearish extension of the decline that started on the October High. Naturally, the 1W technical outlook has turned bearish (RSI = 42.067, MACD = 0.190, ADX = 46.054) but the 1D is oversold (RSI = 29.749) and calls for a rebound in order to harmonize this state near neutral numbers. That matches very accurately the behavior of DXY after every 1W MA50 bearish breach (circles on your chart) as after the break it always consolidated with a small rebound and then resumed the sell to extend to a new Low. In May 2016 that stopped on the S1 level but in the next two occassions, it made two new Lows on the LL trendline. Consequently our long term target is the S1 (TP1 = 99.550). Then as long as the price doesn't cross over the 1W MA50, we will resell on the bounce and target the LL trendline (TP2 = 96.450). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
DXY: Channel Down on the 1D timeframe.The U.S. Dollar Index is reversing at the top of October's Channel Down on a technical outlook that is about to turn neutral (RSI = 56.064, MACD = 0.260, ADX = 25.484). As long as the price stays inside the Channel Down, we are bearish, aiming at the 1.1 Fibonacci extension (TP = 105.225). If the price crosses over the top of the Channel Down, while the 1D MACD forms a Bullish Cross, we will buy, aiming at the R1 level (TP = 108.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
1
DXY 4HR Analysis - No Sign of a Reversal! Bull Channel ContinuesDXY refused to fall below 4HR 200EMA support last week and had a fantastic bounce to the upside. This bounce solidified the current bull channel we are in, with no sign of a reversal in sight. There is currently a gap between 106.672 and 109.000, which is the next weekly resistance zone noted from July 2022. How do we trade this? Probability shows that breakouts are roughly 10% of price action on the charts. Until we see a bear breakout of this channel, we should remain long. Trade Strategies: Swinging For a swing trade, long it if the price action is in the bottom 20% of this channel and place your stop loss a few pips below the 4HR 200EMA. This gives you at least a 1:2 Risk/Reward ratio where you can take partial or complete profits (depending on your strategy). I placed an example long in this chart, an opportunity that has already passed. Scalping You can also scalp your way to victory, but this requires you to lower your reward and increase your risk to gain probability of a profit. The proper stop of the 4HR chart is below the 200EMA or at least, below the bull channel bottom by a handful of PIPs. The further away you enter from that stop, the smaller your position size should be such that your total loss is the same as your 1:2 Risk/Reward ratio. The Math If we're applying the 2% rule in trading, meaning you cannot lose more than 2% of your total account equity on a single trade and your total equity is $10,000, then your maximum allowed loss is $200. Your position size should always be relative to your maximum loss which is determined by where your stop loss is placed. This means a scalp at a 2:1 Risk/Reward ratio provides a profit of $100 at risk of losing $200. In a bull channel, the probability is on your side. If you took 10 trades scalping and won 8 out of 10 trades using this math, you would be up $400. Using the Swing strategy, your probability is lower at the bottom of the channel, but your potential reward is greater, and your risk is lower($200 Reward and $100 Risk). If you won 5 out of 10 trades, you would be up $500. As always, trade at your own risk, you are responsible for your trades, and I hope this information was helpful. Trade wisely and let us know what you think in the comment section below!
TVC:DXYLong
by TraderEngineering
DXY INDEX, READY For a MAJOR BULL-FLAG-BREAKOUT!Hello There! Welcome to my new analysis about the DXY, U.S.-Dollar Currency Index on the 4-hour timeframe perspective. Within the recent times the DXY has shown up with these main bounces in the range to retest previous resistances. With this occasion I detected further important signs to consider especially as bonds recently trended upward and non-DXY economies seem to move forward with higher interest rates than firstly expected. The unemployment rates for August could support a further strengthening in the DXY especially when the wave breakout is showing up in the underlying forex pairs also. The price-action seems to have reached such a momentum that the reversal is not likely now. The only concern here is for risk-on assets to make a turning into the more bearish direction. Major Trend-Dynamic Developments: When looking at my chart now you can watch there the DXY emerged with this massive ascending-trend-channel in which it bounced several times within the lower boundary and supports the recent uptrend with forming the next new highs that are necessary to hold the trend to the upside. Recently the index then moved forward to form the next important formation within this whole structure which is actually a major bull-flag-formation as it is marked in my chart. Such a formation has the potential to convert into a determining and extended bull-flag-breakout and currently the price-action is already attempting to continue with this final breakout meaning that from there on the DXY INDEX is going to emerge with high volume and form the appropriate wave-extension as it is marked in my chart. Upcoming Perspectives and Underlying Indications: With these bullishly inclined technical indications there are several other important indications which make sure that the DXY is continuing with the expected breakout and aiming for the target-zones that will be active after the breakout. All the non-DXY currencies in the basket seem to move further with the increased interest rate periods, this means that the DXY is strengthened as the opportunity costs of holding DXY increase with higher interest rates in non-DXY baskets. Furthermore, the bonds and treasury bills marked is showing increased high yields to the upside recently which is a main factor for a bullish cause supporting the recent trend dynamics and the expected breakout to settle. Taking this into the perspective, once the breakout has shown up it will activate target-zones marked in my chart and from there on the further determinations need to be measured, especially when the DXY shows up with a strong momentum into the target-zones this can also lead to a trend acceleration with a breakout above the channel. It will be an interesting dynamic to consider in the next times, therefore the DXY is in the dashboard watchlist and we are going to reevaluate and update when important changes emerged. Thank you for watching my analysis. Support from your side is greatly appreciated. VP
TVC:DXY
by VincePrince
22
DXY: Moment of truth on the 105.900 ResistanceThe U.S. Dollar Index is rising on an almost overbought 1D technical timeframe (RSI = 69.699, MACD = 0.650, ADX = 30.040) supported by a HL trendline. Following the 1D Golden Cross (first since July 26th 2021), it is now facing the most important Resistance for the long term, R1 at 105.900. We will go long if a 1D candle closes over it and target the R2 level (TP = 108.000) and sell if rejected and target the 0.382 Fibonacci level (TP = 103.500). It has to be said that the 1D RSI has turned sideways since August 25th. This is a potential sign that the bullish trend is losing strength. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXY
by InvestingScope
10
DXY: Crossed under the 6 month Support. Sell signal.The US Dollar Index crossed today under the S1 (100.800) for the first time since February 2nd and this sets in motion the second part of this new bearish leg of the Channel Down pattern. The 1D timeframe turned oversold (RSI = 28.999, MACD = -0.360, ADX = 23.314) and with the 1D RSI imitating the November 11th 2022 Low (as well as the MACD), it is likely to get a short term rebound until the oversold state normalizes. We will use this potential bounce as a sell entry and target the bottom of the Channel Down (TP = 97.770), which potentially completes also a -6.66% decline from the top. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
2
DXY: Aiming at a new Low. Long term bearish trend intact.DXY is having the strongest bearish 1D candle since the May 31st rejection at the top of the long term Channel Down. The 1D time frame is deep in red technicals (RSI = 36.647, MACD = 0.090, ADX = 40.756) but the fact that the price crossed under the 1D MA50 gain, calls for more selling. Based on the previous bearish leg, we aim at a medium term correction of -4.85%, thus our target is structured TP = 99.700. Long term target is at a -6.66% (TP = 97.770) but only after a rebound, but until then our strategy will be updated with a new idea. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
1