Dxytradingsetup
DXY- Broadening wedge needs confirmationApril was a bad month for USD, with the index losing 3 points from 93.50 to almost 90.50.
At this point, we are trading in the trend line support of what could be a broadening wedge.
However, this pattern needs confirmation and in my opinion, this would come with the index back above 91.50
I will stay on the bench when it comes to USD pairs for now and wait for clarification
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!
THIS WEEK...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!
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GREAT ATTENTION: This pair may be influenced in the short term by any news!
This pair may be influenced in the short term by any newsOur analyzes have an accuracy of over 91% but due to market manipulations during this period we will avoid putting exact values on SL!
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
DXYtaking into account the results of NFP, DXY will force and will climb to the level of Fibonacci 786 from where I will reanalyze the entire analysis depending on when it closes after this week!
As I said last week...DXY also closed over Fibonacci 618 and even if it makes a retracement movement at most up to the 92000 area, it will climb and test fibonacci 786 in the shortest time ... where we will reanalyze the whole situation!
THIS WEEK... taking into account the results of NFP, DXY will force and will climb to the level of Fibonacci 786 from where I will reanalyze the entire analysis depending on when it closes after this week!
NOTE: Please, give a LIKE if you find this idea useful!
GREAT ATTENTION:
Our analyzes have an accuracy of over 91% but due to market manipulations during this period we will avoid putting exact values on SL!
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
DXYStarting this week, I will also analyze DXY and NAS100USD!
Because it is the first analysis, I will draw a parallel between the 1-week chart and the 1-month chart, as follows:
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!
However ... a close even for a day over the extremely strong area at Fibonacci 0.5, will make me think of BUY to the Fibonacci 618 area from where ... DOWN AGAIN
*** It is a very difficult week with many political events that will create a high volatility in the market and especially on this pair
NOTE: Please, give a LIKE if you find this idea useful!
GREAT ATTENTION: This pair may be influenced in the short term by any news!
This pair may be influenced in the short term by any newsOur analyzes have an accuracy of over 91% but due to market manipulations during this period we will avoid putting exact values on SL!
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
DXY- change of trend on medium term?After reaching a low at the end of January, DXY broke above trend line resistance and made a higher low, confirming this break.
At this point, the index is trading just in horizontal resistance and my belief is that this resistance will fall and DXY will rise towards 94 zone.
I'm looking to sell rallies on EurUsd, GbpUsd, AudUsd and NzdUsd
DXY (USINDEX) buying ON DIPSAs we told you in our previous analysis of US INDEX this pair has
a harmonic pattern H & S which already achieve our 1st TP
now it is retesting the support zone and fly till design new TP
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DXY - What Is a Head And Shoulders Pattern?What Is a Head And Shoulders Pattern?
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis , a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
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DXY- 91.50 in focusFor more than a week now, USD Index is consolidating above 90 important psychological and technical support level.
Yesterday USD found some life reversing against its counterparts and I expect a new leg up from the Index.
91.50 resistance is my first target followed by 92 zone and I will look for selling opportunities in EurUsd, NzdUsd, AudUsd, and GbpUsd