DXYPrice formed a double top on a resistance zone, this confirms that the dollar will weaken. Short term or long term is the question?
Dxytradingsetup
DXY ANALYSIS FOR NFP THE NON-farm pay roll will impact on the dollar so this is my own projection and analysis for the dollar.
support/deman zone for order block formed.
Let's await NFP ,so all XXX/USD may experience Bearish movement!
Not a financial adviser, just an analysis for NFP.
DXY Daily charts.DXY has hit the bottom of the channel, apparently in my opinion, the market will respect the channel support, and we can look forward, retaining its upward trend. However, it is a risk I am happy to take, for a BUY trade.
DXY: UPDATE FOR THIS MONTHDollar index performance for this month.
expect for bearish target Imabalance daily
DXY- Higher low in place?As I said a few days back, I expect a break above resistance in DXY's case.
As normal, after touching resistance, Dollar Index corrected some and, at this point, we can have a higher low in place.
Confirmation for bulls comes with a clear break above and a drop under 92.50 invalidates the bullish scenario
DXY- Will it break?Since the recent 89.50 low, USD Index is trading upwards, putting in higher lows on our chart.
At this moment DXY is facing resistance at around 93 and a break looks imminent.
If we indeed will have this break, 95 is the next target.
This outlook is valid as long as the price stays above the recent low
Selling EurUsd, GbpUsd, AudUsd and NzdUsd can be a good idea
DXY SellWill look for shorting opportunity in case of a breakout to the downside on the lower timeframe.
Bullish momentum is still intact look for sell only in case of a breakout.
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Stay tuned.
This is just an idea, not financial advice.
DXY short term bearishHi there,
DXY is setting up for an ABC correction to prepare for next move higher, Look for sells now on dxy to prepare for buys on long term.
Good luck
DXY- 95, a good target for bullsIn the past 2 weeks, DXY consolidated gains, just under local 92.75 resistance.
I expect a break from the Index and swing trader can target 95 zone for their long positions.
Dxy to break resistanceYesterday's drop to 92 support was bought and now USD Index is trading in 92.50 resistance zone
I expect a new leg up and the target is 93.50
DXY is going strongerDaily Chart:
- Dxy is showing a potential strong movement into the volume imbalance from May 2021
Depending on weather price breaks the previous SH or SL ,
> Dxy will carry on getting stronger to fill the V.I (at ~90.800 ) or drop down to 90.600
so i suggest that the reader pay close attention to the price action on Monday and to see if one of the instances occur to be able to look for a perfect entry in the overall direction of the market
BULLISH DXYDXY has bottomed out around the 89.50 level and has continued to grind higher since. The next level that we took out was the 89.90 level which now acts as support and the upward trend line and pivot area. I expect a move higher in the dxy in the coming weeks and therefore I will sell the rallies in EURUSD and AUDUSD and buy the dips in USDJPY.
Good luck!
Dxy- Now whatAfter breaking up the falling wedge, Dxy has reached the pattern's target and now is trading in very strong resistance zone that lies around 91.50.
A correction can follow at this point and 90.50 could be the target
DXY Idea on 16 June 2021 #H4As we see dxy chart on 16 June 2021, after dxy finish running on flat price range between 90.400 - 90.600 from 13 June to 16 June, As FED meeting would affect the interest rate and US Dollars.
Trading plan, Wait for break out Flat Range and long at retest around 90.600 Target 90.800-90.850
DXY Bearish Than BullishDollar create descending channel with hidden bearish divergence. So now its gonna complete 5 than supper bullish for dollar!
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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*This information is not a Financial Advice.
DXY- A clear falling wedgeSince the beginning of May, USD was weak and dropped again under 90 figure.
However, the drop is not impulsive and the lows are marginal, forming a falling wedge on the lower TFs.
A break of wedge's resistance could lead to acceleration to the upside and we finally can have a correction on usd pairs
