Dollar Weakness In Coming Week!A perfect shooting star pattern on a descending trend line for the Dollar. Reversal at play off of this so expect some weakness for the Dollar this week!
Dxytradingsetup
DXY Strength - But A Trendline In The Way?The last two weeks we have seen some bullish moves with the Dollar which broke the DXY out of a low range. However on a weekly chart, we can see it has now reached a descending trendline around the 93.00 level. Could this be a bit of a make or break move for the Dollar? With a break to the upside and push towards previous 2017 highs or a rejection and downside move to test 87.00 area.
DXY Short at resistanceAnalysis:
I've seen DXY correctively retrace towards a diagonal resistance (trendline).
& It is currently entering into a 2 day reversal zone.
Hypothesis:
I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue.
Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow
Risk Management:
Trade potential 3:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned about shorting against short term bullish momentum.. you can wait for a 4hr bearish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
DXY Index Technical AnalysisIt seems DXY reached it's strong resistance @ 91.40
* US Dollar stronger seems more stronger from last week. There is a chances to breakout the current sideways channel to Bullish trend if the market price breakout 91.50 price.
* Otherwise it will continue the bearish trend for sideways channel.
Up Down Up DownThe Dollar Index has been stuck in this wedge pattern since the beginning of 2018. After a large fall from the 95.00 area it seems to have stalled and now deciding on whether to continue pushing down, or prove this wedge pattern is the bulls getting ready to go! Between 90.50 and 80.50 seem to be keen bounce areas for price to reverse so keep an eye for a a strong rejection / break of these levels...
Is The US Recovering?Will we see a break of the 89.90 level to start the rally upwards and back into known territory for the Dollar? Could 92 / 93 be on the cards...
Possible corrective structure on DXYI can see a B wave is forming in DXY and trading the C wave is a good idea. Please trade with care.
US Dollar Currency Index (DXY) Medium TermMulti-day view: DXY price action contained in a multi-month bearish channel decelerating with new tops and lows, finally clearing the May 2016 lows. Current price action has so far stalled near the prior resistance area but I am likely to see a break of this area as there is a bullish divergence under play and momentum is supporting the view as well. So I am likely to see DXY visiting 38.2% retracement area (95.90) over the coming days or so.
Strategy: Buy on dips for a target to 95.90, stop below 91.66
Usdindex perfect head and shoulder pattern If dollar break neckline then conform its make
head and shoulder pattern and its going to
our Expected targed .
Dollar and eurusd in positive correlation and
eurusd also make Head and shoulder pattern ,
yOU also check our eurusd ideas
trade with care and good luck
positive correlation with euro
Asad Ullah Jass
DXY Daily Chart Reverse Head and ShouldersWatching the dollar to form the right shoulder of the reverse head and shoulders. Assuming that the low for the intermediate term has been formed, then this suggests that we are in a prime buying opportunity to test the long side for the dollar.
What's in store for USD in Q2... time to choose our side!Firstly congratulations to those who took shorts on the previous idea (please see attached), very well done for clearing all targets on the handle.
We are rolling with the dollar holding 100.xx post FED - we need to keep in sync with the dollhair to make our next few months a lot easier and it will separate the men from the boys, having a crystal clear map will be invaluable.
OK so with that in mind, lets draw our maps moving forward;
As long as strong prints on the macro front continue, then as will Trump's Honeymoon be extended with tax cuts being tracked like a hawk by smart money. The initial knee jerk rally is over as markets have begun to demand more since Trumpcare fell through.. In any event, there are many doors still open, if not tax cuts then we have huge infrastructure and if all else fails there is always defence (or "attack").
What we now need to track is the pullback we find ourselves in... there is plenty of room either side here, what I aim to do by publishing this idea is to start the discussion and place for us here to track and put in context over the next Q and current leg.
Our options are as follows;
a. BUY above 102.xx -> TP 109.xx
b. SELL below 98.xx -> TP 92.xx
c. sidelined, waiting for things to become clearer
d. No idea
DXY shortHi Seildev here.
This looks remarkably similar to the DXY slip in May this year.
- Point A shows the attempted recovery from 18th/May ~ 19th/May however fell lower within a day
- Point B shows similar patterns which shows recovery however will fall within a day.
Projected high move to hit 96.44 and fade.
Projected DXY to be 94.5 by end of this month. DXY has been avoiding patterns and showing impulse movements to bait retail traders which in turn reverses after 24 hour period. This is the new day of Q3 and start of new financial quarter which psychologically may portray a "fresh start" image for the heavily fading US dollar in the past quarter. I believe this would be a fake out and will reverse within 96.2 ~ 96.4 down to 94.5 by the end of this month.
Please trade with care. This is only my opinion from backtesting.
USDollar DXYThe DXY likely to see more downside in the short term.
If this is the case, other currencies should see an upside for the duration.
DXYfailed to retest previous high. we should see it have a bearish trend down to the trendline plotted.
USD Index for the Long term Investment < to 2025 Probably!long it , to the trend ,
Then short it to the B AREA
if the price goes up the red trend , and it is something really hard but everything in the market can be , so long it again to A Area
see you after 7 years :=) , or if something really big happen ,and i expect the second one ,
Update idea
DXY Daily Key ElementsDXY major level of resistance:
103.40 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance)
DXY major levels of support:
92.00 (Fibonacci retracement, horizontal overlap support)
AUDUSD technical indicators:
RSI (34) is seeing strong bearish divergence vs price.
DXY DailyI would like to see bounce back to 100.33, reverse and break above 101 level to profit target at 102.
Level 101 is very strong resistance level from multiple time frames.
Otherwise close below 100.33 will open the way to 99.24
Sell DXY to sub 100Just a small update on my previous ideas regarding the DXY.
Straight-forward sell set-up, strong bear div.
DXY @ 1h @ will 101.78 holds this week & confirm bullish trend ?Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
Best regards
Aaron
DXY @ 1h @ will flag-formation be confirmed this 52nd week `16Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
