Dxyviews
DXY SHORT TIME SELL & LONG BUY IDEA..........
27 JUNE 2021
DOLLAR INDEX MY VIEW-
N.B- DXY chart create Bullish butterfly pattern. When market create candle contamination on 91.300 support zone.
Then the market goes up to 92.355 and 93.270 resistance zone. If breakout 31.300 support level then dollar index
buy case invalid. And down to 90.663 level.
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Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad
US-Dollar possible next big movesHi!
First of all:
it's a personal, purely technical view
without taking news or economic miracles into account!
or an alien invasion...
your opinion on this is very welcome in the comments!
Part 1: way up
let's switch to a smaller time frame to see why I think it would be possible
There is still a key level from the last up move in 2014 that has not been tested again.
I could imagine this will happen before we see another upward movement.
this key level is also in the range between 78.6 and 88.2 fibonacci.
anyone who knows a bit about fibonacci, knows that the market likes to hit this area again before major movements happen. mostly ... not always but often.
if this happens and the market does not break through here, the way could be free to go upwards.
Part 2: way down
here i take the same principle - just rotated
there is still the level of the high between 2000-2002 which has not been retested.
here again the fibonacci with the same levels. only rotated this time.
the range between 110 and 115 would be a very good short entry for me. because there could be a really tough resistance.
if the market goes above 121, we can look forward to more golden times.
if not... Michael Burry gets his next big short.
the only question would then be how far the usd can fall. the target area at -27 Fib is only a guess!
maybe someone already sees possibilities!
maybe I'm completely wrong?
we will see...
thanks for reading and have a nice day
not a trading recommendation or a investment advice
just my own opinion
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
DXY very bullish after retracementHi there,
DXY heading for another leg down, I think we completed now wave 3 and we heading for wave 4 for a big retracement on the dollar, which will send eurusd to 1.21 and gold to 1800+
After we make the correction, the whole market will crash with the strong dollar,
Get ready to get in after the correction on GOLD, EURUSD, GBPUSD, NZDUSD, AUDUSD, all will drop hard
Good Luck
DXY - Uptrend to continue if it closes above 92 todayClose above 92ish today, with a backtest of this level, would confirm DXY's move into this range where highs approach 95
I can't see it hitting this high, but it would defo make sense for it to collect some liquidity above 92.8 and test the mids
92.8 lines up well with golden pocket of recent play so that could be the top for DXY imo
If it does move to mids and above it could defo hinder BTC's move to it's ATH and beyond, maybe stalling it and sending it lower to 49's
You could say dollar strength makes no sense due to inflation and money printing but at the same time the DXY is relative to other currences not cryptocurrencies
Other currencies have all become relatively weaker due to money printing and creeping inflation also so the FED printing money doesnt necessarily mean DXY death, not in short term anyway!