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DXY Daily TA Cautiously BullishDXYUSD daily guidance is cautiously bullish. Recommended ratio: 70% DXY, 30% Cash. *All markets reacted negatively to news of Chinese citizens protesting the Covid lockdowns in fear of more supply chain disruptions. The Pentagon is currently devising a proposal to send smaller precision bombs that can be fitted onto rockets and allow for Ukraine to strike behind Russian lines as the US and NATO military inventories are dwindling in response to a now 9-month constant bombardment by Russia on Ukraine. Russia's plan to destroy Ukraine's energy infrastructure to demoralize Ukrainian's during what is expected to be a very cold winter is reminiscent of The Holodomor (Great Famine) under Stalin in 1932-1933 when Russia ignored natural factors and enacted repressive policies that contributed to a massive decline in Ukraine grain and killed 3-5 million people as a result. It appears that Russia is also intentionally exhausting military supplies from NATO countries (US mainly); which could possibly hamper future US intervention during potential future altercations between China and Taiwan. Elon Musk is "waging war" against Apple after Apple decided to suspend advertising and is mulling the idea of removing Twitter from the App Store . Apple takes 30% of all sales within the App Store, so Twitter would only be seeing $5.60 of the $8 iPhone users would pay for a Blue-Check. BlockFi did what everyone expected and filed for Chapter 11 bankruptcy today . DXY, Short-Term US Treasurys, US Equity Futures, EURUSD, GBPUSD, JPYUSD, Gold and VIX are up. Long-Term US Treasurys, US Equities, Cryptos, CNYUSD, NI225, HSI, N100, Energy and Agriculture are down. Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29 ; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. * Price is currently trending up at $106.66 after bouncing off of the 50MA at ~$105.35, the next resistance is at $108. Parabolic SAR flips bullish at $108.46, this margin is mildly bullish at the moment. RSI is currently trending up at 40.73 and is still technically testing 39.43 resistance. Stochastic remains bullish for a second consecutive session and is currently trending up at 38.83 as it approaches a test of 45.65 resistance. MACD remains bearish and is currently trending up at -1.28; it's still technically testing -1.21 support and if it can cross above -1.18 it would be a bullish crossover. ADX is currently trending up slightly at 26.85 as Price bounced off a critical support level (the 50MA), this is mildly bullish at the moment. If Price is able to continue higher then it will likely retest $108 resistance . However, if Price falls back down here it will have another chance to formally retest the 50MA at ~$105.35 as support before potentially retesting $103.15 support for the first time since June 2022. Mental Stop Loss: (one close below) $105.35.
TVC:DXY
by dailytaguy
DXY Daily TA Neutral BearishDXYUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% DXY, 60% Cash. *I violated the House Rules for showcasing private indicators that I didn't create and was put in timeout in addition to my previous 5 ideas being hidden. Sorry I guess.* *Investors are fleeing DXY and their Fixed Income trades and moving back into Risk-On assets as market participants seem to think that the Fed is going to slow down rates hikes by opting for 50bps vs 75bps on December 14th. Meanwhile Ukraine continues to operate with half of the country's energy capacity as the winter continues to get colder and has appealed to President Biden to consider sending Gray Eagle Drones to aid in their defense against Russia . Tomorrow is a big day for economic data in the US with Manufacturing PMI, Consumer Sentiment, New Homes Sales and the FOMC Minutes all due to report. It's important to remain prepared for a reversal back to DXY and US Treasuries if the numbers don't support the "inflation is coming down" narrative. TIPS are still attractive until CPI comes down consistently. Equities, Equity Futures, Cryptos, Commodities, JPYUSD, GBPUSD, EURUSD, CNYUSD, NI225 and N100 are up. DXY, US Treasuries, VIX and HSI are down. Key Upcoming Dates: S&P US Manufacturing PMI at 945am EST 11/23 ; UofM November Consumer Sentiment Index at 10am EST 11/23 ; US October New Homes Sales at 10am EST 11/23 ; FOMC Minutes at 2pm EST 11/23 ; 6th GDPNow US Q4 GDP estimate 11/23 ; 2nd BEA Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. * Price is currently trending down at $107.15 after being rejected by $108 resistance. Parabolic SAR flips bullish at $109.73, this margin is mildly bullish. RSI is currently testing 39.43 resistance, if it can break above this level then the next resistance is the uptrend line from July 2020 at 49 resistance. Stochastic remains bullish and is currently trending up at 39 as it approaches a test of 45.65 resistance. MACD remains bearish and is currently trending up off of -1.21 support, if it can get above -1.05 this would be a bullish crossover. ADX is currently trending sideways at 25 as Price attempts to recapture its uptrend, this is neutral at the moment. If Price is able to bounce here then it will likely aim to retest $108 resistance before potentially pushing higher to test $110 minor resistance . However, if Price continues down here, it will likely test the 200MA at ~$105 as support for the first time since June 2021 before potentially retesting the uptrend line from May 2021 at $103.15 support . Mental Stop Loss: (two consecutive closes above) $108.04.
TVC:DXY
by dailytaguy
DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 20% DXY, 80% Cash. *DXY and Long-Term US Treasuries are down after a barely dovish October CPI print that has investors thinking that the Fed is going to somehow pause rates hikes in 2023 or slow down on December 14th. Equities benefited from this and if it wasn't for the FTX/Alameda fallout then Cryptos may also be benefitting from this recent transition back to Risk-On. Bad headlines keep coming out for FTX as a large portion of their remaining assets (around ~$700m) were "illegally moved" last night after they filed for Chapter 11 Bankruptcy earlier in the day; after hearing about the FTX backdoors that only SBF and 3 other people knew of, it's hard not to be skeptical of who orchestrated this. The Fed has made it abundantly clear that they still have a ways to go before bringing the federal funds rate to a sufficiently restrictive level, and if there's one thing that we learned in 2020 and this year, it's to not fight the Fed. Keep an eye out for what Russia decides to do about the Grain Deal with Ukraine that's set to expire next Saturday 11/19. Key Upcoming Dates: Fourth GDPNow Q4 GDP estimate 11/16; US October Retail Sales at 830am EST 11/16; US October Building Permits and Housing Starts at 830am EST 11/17; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . * Price is currently trending down at ~$106.41 and broke below $108.04 support after falling 4% on the CPI report. Parabolic SAR is bullish at the moment. RSI is currently trending down at 32 with no signs of trough formation, the next support is at 23. Stochastic remains bearish and is currently trending down at 10.25 as it approaches a retest of 9 support. MACD remains bearish and is currently trending down at -0.75 as it approaches a test of -0.83 support for the first time since July 2020. ADX is currently trending up at 16 after forming a trough at 13 as Price continues falling, this is mildly bearish at the moment. If Price is able to bounce here then it will likely test $108.04 resistance . However, if Price keeps going down, it will likely test the 200MA at ~$104.75 as support for the first time since June 2021. Mental Stop Loss: (two consecutive closes above) $108.04.
TVC:DXY
by dailytaguy
DXY Daily TA Neutral BearishDXYUSD daily guidance is neutral with a bearish bias. Recommended ratio: 42% DXY, 58% CASH. * MINOR SUPPORT WATCH . US Midterm elections are underway and the polls are getting ready to close soon, Republicans are expected to control both the House and Senate when the results come in. DXY, US Long-Term Treasuries, CNYUSD, Metals, Agriculture and Cryptos are all down. While Equities, Equity Futures, JPYUSD, GBPUSD, EURUSD, VIX and Energy all finished higher on the day. In a calamitous day that sent shockwaves through the entire Crypto industry, FTX experienced a liquidity crunch due to investors fleeing their exchange token FTT en masse after reports surfaced on 11/06 of Alameda Research (partner crypto trading firm) possibly not being as solvent as people thought. This inspired Binance to one-up their initial investment in FTX (that they exited last year) by acquiring all of FTX (excluding FTX.US) in a strategic transaction to provide liquidity to the struggling exchange . FTX CEO and Co-Founder Sam Bankman Fried was ranked the 95th wealthiest person in the world just yesterday with a $15.6b estimated net worth; now, after the biggest one-day collapse (94%) ever among billionaires tracked by Bloomberg, his net worth is estimated to be $1b. This event sent almost all Cryptos down 20%+ as investors feared what kind of ripple effects such a big player (FTX) going down in the industry would have on the broader market. Equities and Cryptos showed another case of decoupling with Equities finishing higher for a fourth consecutive session on the expected Red Sweep in Congress, the CPI print on Thursday will be telling in how far this rally in Equities has to go. Today, Xi Jinping inspected the joint operations command center of the Central Military Commission as part of an effort to enhance combat preparedness, he was even quoted as saying that "the entire military should devote all its energy to, and carry out all its work for, combat readiness" to "enhance its capability to fight and win and effectively fulfill its missions and tasks in the new era". It's become quite clear that China will likely invade Taiwan later this year or in 2023 with Taiwan continuing to make independent decisions like investing $10m in chip production in Lithuania as well as "colluding with external forces" (meeting with world leaders that recognize Taiwan as a sovereign state). The US has information regarding North Korea supplying Russia with weapons , North Korea is one of the few countries in the world to openly recognize Russia's proclaimed territories in Ukraine. Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . * Price is currently testing $110 minor support for the third consecutive session and risks losing support of the 50MA if it breaks below $110. Parabolic SAR flips bullish at $113.05, this margin is mildly bullish at the moment. RSI is currently trending sideways at 41 and is technically retesting 39.43 support for the second consecutive session. Stochastic is currently bearish and is beginning to form a trough at 15, the next support is at 9. MACD remains bearish and is currently trending down at -0.30 as it approaches a test of -0.38 support for the first time since April 2021. ADX has been forming a soft trough at 14 for three consecutive sessions as Price struggles to find buying momentum, this is neutral at the moment but if ADX starts to go up as Price goes down this would be mildly bearish. If Price is able to bounce here and defend $110 support then it will likely retest the 50MA as resistance at ~$111.25 . However, if Price continues to breakdown here, it will lose $110 support and likely retest $108 support . Mental Stop Loss: (two consecutive closes above) $110.03.
TVC:DXY
by dailytaguy
DXY Daily TA Neutral BearishDXYUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% DXY, 60% Cash. * The US October Employment Situation today reported 261k nonfarm payroll jobs added (vs 250k expected), a 0.2% increase in unemployment and a 62.2% labor force participation rate. These numbers hardly reflect monetary tightening (labor force participation rate has remained largely unchanged since Covid-19 lockdowns) nor a recessionary environment. If CPI comes in lower on the 10th it will likely help soften the Fed's stance on inflation but as it stands now, the Federal Reserve is likely to increase the funds rate by another 75bps in December. If CPI comes in higher on the 10th, 100bps would likely be on the table come December 14th. The Russia/Ukraine grain deal that Putin resumed this past Wednesday will expire on 11/19/22 and there have been no commitments to extension thus far. Chinese stocks are in rally mode as rumors regarding a reopening from Covid restrictions are beginning to circulate. Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently trending down at $110.78 and is still technically testing the 50MA at $111.15 as support. Parabolic SAR flips bearish at ~$109.61, this margin is bearish at the moment. RSI is currently trending down at 45.84 with no signs of trough formation and is on the brink of losing both 49.10 support and the uptrend line from July 2020 as support; the next support is at 39.43. Stochastic is currently on the verge of crossing over bearish as it tests 68.24 resistance. MACD remains bearish after a failed bullish crossover and is currently trending down at 0.035 as it approaches a potential retest of -0.065 support. ADX is currently trending down slightly at 13.70 as Price continues to try to push higher, this is mildly bearish at the moment. If Price is able to bounce off of the 50MA as support then it will likely retest the local-high of ~114 as resistance . However, if Price continues to break down here, it will likely retest $110 minor support . Mental Stop Loss: (two consecutive closes above) $111.20.
TVC:DXY
by dailytaguy
DXY Daily TA Neutral BullishDXYUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% DXY, 48% Cash. * FOMC WATCH . DXY, VIX and Agriculture are down while Cryptos, Equity Futures, US Treasuries, CNYUSD, JPYUSD, GBPUSD, EURUSD, Metals, Oil and Energy are up. White House Economic Advisor Bernstein said today that "President Biden has endorsed the Fed's policy pivot", which many readers interpreted as a sign of 75bps and a Fed pivot tomorrow; turns out he was referring to the hawkish pivot already being made this year. Interesting word choice with the FOMC rate hike announcement tomorrow and US Midterms on 11/08/22. The US Pentagon has confirmed that there are US military personnel currently in Ukraine conducting security detail at the embassy and providing logistical support for Ukrainian soldiers , but that none are on the frontlines. However, it's rumored that there's a large presence of clandestine CIA and US special forces that have been operating in Ukraine since the Russian invasion in February . The second GDPNow US Q4 GDP estimate is 2.6% , down from 3.1% on 10/28. Key Upcoming Dates: FOMC Statement at 2pm EST 11/02; October Employment Situation at 830am (EST) 11/04; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price is currently attempting to push higher after bouncing off the 50MA at ~$111. Parabolic SAR flips bullish at $112.75, this margin is mildly bullish. RSI is currently trending down and testing the uptrend line from August 2020 as support at 49.10 minor support. Stochastic remains bullish and is currently testing 50.61 resistance with no signs of peak formation. MACD remains bearish and is currently forming a soft trough just above -0.38 support for the fourth consecutive session. ADX continues to trend down at 13.57 as Price attempts to push higher, this is mildly bearish. If Price is able to keep pushing higher then it will likely aim to retest the local-high at ~$114 as resistance . However, if Price breaks down below the 50MA at ~$111 as support , it will likely retest $110 minor support . Mental SL: (two b2b closes below) $111.
TVC:DXY
by dailytaguy
DXY Daily TA Cautiously BearishDXYUSD daily guidance is cautiously bearish. Recommended ratio: 30% DXY, 70% Cash. *DXY, 10 Year US Treasury Bonds and VIX are taking a hit as JPYUSD, GBPUSD, EURUSD, 30 Year US Treasury Bonds, Cryptos, Equities, Equity Futures and Commodities are all up. This is after speculation that Japan's government had intervened in currency markets by selling USD for JPY in order to protect a key JPYUSD threshold . Additionally, San Francisco Fed President Daly (currently not FOMC member) commented that the Fed should reevaluate how restrictive they need to be and that 75bp increments after November may be unnecessary . This combination is likely responsible for today's shift in market sentiment toward more Risk-On. St. Louis Fed President Bullard (FOMC member) quickly clapped back today and said that the Fed can keep raising rates until they see inflation come down meaningfully because the job market is "extremely strong" . Comments like Bullard's leave the possibility of 100bps on November 2nd still on the table. The 7th and penultimate Beige Book of 2022 released on 10/19 highlighted : a tightening job market with wage growth still intact, a slowing housing market, a continued weakening demand for production and an increase in travel/tourism from the post-Covid reopening. Key Upcoming Dates: S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is currently trending down at ~$112 after being rejected by the upper trendline of the ascending channel from October 2008 at ~$114 as resistance, this is just below $114.63 major resistance. Parabolic SAR flips bearish at the 50 MA (~$110.50) which is just above $110 minor support, this margin is mildly bearish at the moment. RSI is currently trending down at 51.50 as it approaches a retest of 49 minor support, this would likely coincide with the uptrend line from July 2020 at ~48 as support. Stochastic is currently on the verge of crossing over bearish at 46 after forming a peak at 51 resistance, the next support is at 24. MACD remains bearish and is currently reversing a trough formation as it breaks below 0.65 support and continues to trend down at 0.57; the next support is at 0.24. ADX is currently trending sideways at 19 as Price continues to see rejection at the local high, this is neutral at the moment. If Price is able to bounce here then it will likely aim to retest the upper trendline of the ascending channel from October 2008 at ~$114 as resistance (and potentially $114.63 resistance ). However, if Price continues to breakdown here, it will likely retest the 50 MA at ~$110.50 as support before potentially retesting $110 minor support . Mental Stop Loss: (one close above) $113.32.
TVC:DXY
by dailytaguy
DXY Daily TA Cautiously BullishDXY daily guidance is cautiously bullish. Recommended ratio: 90% DXY, 10% Cash. *Equity Futures, Agriculture, Metals and EURUSD are down to start the week while DXY, US Treasuries, Energy and Crypto are up. As long as the Federal Reserve's federal funds rate keeps going up and Russia keeps escalating the war in Ukraine, DXY will likely keep going up. Key Upcoming Dates: September US Consumer Confidence Index at 10am EST 09/27; August US New-Home Sales at 10am EST 09/27; Final US Q2 GDP revision at 830am EST 09/29; August US PCE price index at 830am EST 09/30.* Price is currently trending up at ~$113.78 after briefly testing $114.62 resistance earlier in today's session. Parabolic SAR flips bearish at $108.84, this margin is mildly bearish at the moment. RSI is currently trending up at 77.21 and is beginning to form a soft peak as it approaches 81.84 resistance. Stochastic remains bullish and is currently trending up at 96 and is beginning to form a soft peak as it still technically tests 88.40 resistance. MACD remains bullish and is currently trending up at 1.16 as it approaches 1.24 resistance with no signs of peak formation. ADX is currently trending up at 35 as Price continues going higher, this is bullish. If Price is able to break above $114.62 resistance then the next likely target is a retest of $119.88 resistance for the first time since January 2002. However, if Price is rejected here at $114.62 resistance, it will likely retest $110 minor support . Mental Stop Loss: (two consecutive closes below) $107.91.
TVC:DXY
by dailytaguy
DXY Daily TA BearishDXY Daily bearish. Recommended ratio: 5% DXY, 95% Cash . *Treasuries (excluding the 30 yr Bond) and the Dollar are correcting after a bullish summer fueled by supply chain woes and recession fears. Supply chain woes have not been remediated but there is an element of the Bullwhip Effect that should be considered and that is the excess supply that can come shortly after an abrupt slow down in demand, this could lead to deflation which would naturally (yet artificially) reduce inflation. The recessionary fears on the other hand are starting to wane with every remotely bullish economic data point that is reported, speculators are even already betting on a 50bps rate hike in September. Just today Minneapolis Fed President Neel Kashkari stated that he would like to see EOY FFR at 3.9% and 4.4% by the end of 2023, he doesn't actually have a final vote on this but it's worthy of mention considering he has been rather dovish in recent years. Both money markets and Fed members have acknowledged that the EOY target for FFR in 2022 is 3.25%-3.75% (technically 3.15%-4%), so if the current range is 2.25%-2.5% (current effective rate is 2.3%) it would require 100bps or more over the next three Fed meetings in September, November and December to get to 3.25%-3.75% EOY FFR. As of now the most likely scenarios are: September 50-75bps, November 50-75bps and December 25-50bps. More clarity will arrive at the end of this month with PCE numbers due on 08/26 and the Jackson Hole Economic Symposium on 08/25-08/27. In other news, Disney reported beats on Q3 earnings and revenue but forecasted slower subscriber growth in 2024. Key dates remaining this week: PPI report at 830am EST 08/11 .* Price was rejected by the descending trendline from 07/14/22 and is currently trending down at ~$105.20; it is still technically testing the 50 MA as support at ~$105.58. Parabolic SAR flips bullish at $106.87, this margin is mildly bullish at the moment. RSI is currently trending up slightly at 43 after bouncing at 39 and is still technically testing the uptrend line from July 2020 as support at ~45. Stochastic remains bearish for a third session and is currently testing 24 support with no signs of trough formation. MACD remains bearish and is currently testing 0 support with no signs of trough formation, if it breaks through this support then the next support is at -0.38. ADX is currently beginning to form a trough at 21 as Price continues, this is mildly bearish; if ADX can start trending up as Price continues to fall this would be bullish. If Price is able to defend support at the 50 MA (~$105.58) then it will have to break above the descending trendline from 07/14/22 at ~$105.75 in order to retest $108 resistance . However, if Price continues to break down here, it will likely retest $103 support . Mental Stop Loss: (two consecutive closes above) $105.70.
TVC:DXY
by dailytaguy
DXY Daily TA Cautiously BearishDXY Daily cautiously bearish. Recommended ratio: 25% DXY, 75% Cash. * US Treasury Secretary Janet Yellen was interviewed by NBC and explained that due to strong consumer demand, credit quality and employment, the widely anticipated two consecutive quarters of negative GDP would not constitute a recession. She is essentially the White House mouthpiece for the state of the economy and is saying that a healthy labor market and a strong consumer (she's referring to growing retail sales, positive GDI growth and "healthy" consumer credit) are currently saving the US from an economic recession. The Consumer Confidence Index (the leading gauge of US consumer confidence) is scheduled to report tomorrow (07/26) at 10am (EST), it has fallen for the past two months and is now at the lowest level since February 2021. The University of Michigan Consumer Sentiment Index is currently projecting a rise in confidence from June to July and is scheduled to report at 10am (EST) on 07/29. With increases in layoffs and announced slowdowns in hiring I'm legit curious to know how the Employment Situation looks on 08/05; both the Federal Reserve and the US Treasury Department are notorious for relying upon lagging data, time will tell if this is one of those cases. With regards to the DXY there are two bullish catalysts at work here: 1) continued geopolitical turmoil and the resulting supply chain disruptions (leading to food and energy shortages) are pushing investors to US treasuries and 2) increases to FFR spillover into increases to overall economic rates, which typically push those looking for higher rates of return to dollar-denominated assets which in return pushes DXY higher. The current consensus on the EOY FFR from both money markets and FOMC members is around 3.25-3.5%, we are currently at 1.5%-1.75% (effective is currently 1.58%). That said, if the projected increases in FFR are to in fact take place AND the global geopolitical/supply chain situation continues to worsen, it would be reasonable to see DXY at 2000-2002 levels (~$120). Reminder that there was a "technical" US recession from March 2001 to November 2001.* Price is continuing to trend down at ~$106.50 after being rejected by $108 resistance; it is also forming a Bull Flag and may attempt to retest $108 resistance in the near term. Parabolic SAR flips bullish at $108.57, this margin is neutral at the moment. RSI is currently trending down at 52 and is beginning to form a soft trough after getting rejected by 59 resistance; the next support is the uptrend line from July 2020 at ~45. Stochastic remains bearish and is currently forming a trough as it attempts to cross over bullish at max bottom. MACD remains bearish and is currently testing 0.65 support with no sign of trough formation. ADX is currently trending down at 34 with no sign of trough formation as Price continues seeing selling pressure, this is mildly bearish at the moment. If Price is able to bounce here at ~$106.50 then it will likely retest $108 resistance . However, if Price continues to break down, it will likely retest the 50 MA (for the first time since May) at ~$105 . Mental Stop Loss: (one close above) $108.
TVC:DXY
by dailytaguy
Flight to safetyWith Burry saying we still have 50% more downfall to go - that leads me to think the DXY has quite a bit more room to run (along with plenty of other macroeconomic contributing factors of course) I just decided to single out Burry lol. I can easily see a ~120 DXY which would be carnage for stocks and crypto - earlier today I saw that the the euro/dollar had collapsed to it's 20 year low which is just more fuel for DXY to run higher. The VIX is also telling us something big is brewing. Should be a big week.
TVC:DXYLong
by InvestingIdeas9
Pathing Of Price Is Crucial ----------> DXY/USDI am almost certain that the price of DXYUSD may very much follow the sideways channel (Blue dotted lines) that I have laid out, before finally bouncing on support (Green dotted lines) which would then give a significant amount of buying power given the fact that 94.651 Is a major area of bullish divergence. However, price needs to close above the weekly MA before any actions are taken. -Levels of significance: $96.479 $95.609 $94.692 As always, patience tends to reward those In Interest. Lets just wait and see.
TVC:DXY
by Clar_214942894312797
1
Dead DollarKing dollar is about to pee his pants. Impulsive move counted on the downside basically right after it was announced that congress printed 1.1 trillion for the infrastructure. Currently it costs $1.20 to pay for $1 of goods and services. This means that whatever money printing we do now is actually a negative. We just finished a little correction up yesterday. Now we're continuing downward. I expect us to break below $0.90 within the next few weeks. (Not financial advice)
TVC:DXYShort
by MonetaryRebel
5
US dollar about to collapse​​DXY FREE UPDATE - Yello! Let's make everything crystal clear and understand a bit better what is going on in the market right now. Let's talk about the Dollar Index, ladies and gentlemen This index (DXY) basically measures the dollar's strength against all other currencies (FIAT). And to understand the context, please refresh your mind and read our update about DXY from February this year click here and read it now. Since our last update from February, DXY respects our support zone perfectly and keeps bouncing off it (keep in mind that the more often support or resistance is tested, the weaker it gets). Moreover, over the last few weeks, the DXY is showing some continued strength, primarily due to the FEDS announcement to tighten rates by 2023. The US government tries hard to push away the financial crisis and colossal inflation. But doing these things will just make it worse in the future. However, it indicates that the US dollar is starting to regain strength in relation to other Fiat currencies at the moment. And what about Bitcoin? Whilst there may be no direct connection between the DXY and Bitcoin, the correlation on short/mid-term price action is intense and always have been. To understand better the correlation: Normally, we see BTC gaining strength while the dollar weakens; similarly, we are now seeing a decline in BTC due to the dollar regaining strength. DXY is approaching a local resistance right now, which can send it back to the support. That would be logical as BTC is trading at support right now. But if there will be some other positive news by FED actions, we expect DXY to break the resistance, which would mean a further upside for Dollar Index. We are preparing for some huge volatility soon. Make sure you have a plan and a great strategy going into this week. Read our previous DXY update We wish you a happy, safe Monday, your ParadiseTeam
TVC:DXYShort
by MyCryptoParadise
6
DXY In Bearish Wedge FormationDXY Looks like it's in a bearish wedge formation that formed on June 18th and this is inside of another larger bearish wedge structure with a base around 89 which is where I think the ultimate target is before the next move up or down in DXY can be determined. This is a medium-long range HTF forecast - not to be used for shorter term trades. In the shorter term time frames it looks like DXY could continue higher over next few days and couple weeks before breaking down from the bearish wedge structure formed on June 18th.
TVC:DXYShort
by ich1baN