Get started

Forextrading

DXY: Some more downside is expected. Is it a buy after?The U.S. Dollar Index is on strong bearish levels on the 1D technical outlook (RSI = 36.538, MACD = -0.480, ADX = 39.006) as it is extending the Channel Down with a rejection today exactly on its top. The very same Channel Down was seen last October-December (2023) and declined by -6.25% before recovering. The buy signal was a DB (double bottom) on the 1D RSI. Consequently we will remain bearish on DXY (TP = 99.550) and only buy after we get a clear rebound (around -6.25%) and a DB on the RSI. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope
“Gold Prices Target 2600 Level”After the Fed cut its policy rate for the first time in four years, the dollar index saw further declines. The yield on the U.S. 10-year Treasury bond dropped to 3.63% following the decision. This market reaction accelerated the push for gold prices towards the 2600 level. Additionally, the Fed indicated the possibility of another 50 basis point rate cut this year. Fed Chair Jerome Powell noted that upward risks to inflation have decreased, while downward risks to employment have increased. From a technical perspective, if prices remain consistently above the 2580 level, an increase to 2600 and then to 2650 could occur. On the downside, if the price falls below the 2570 support level, a pullback could extend to 2535 and then to 2482.
OANDA:XAUUSD
by primequotes
“Dollar Index Declines After Fed Decision”The U.S. Federal Reserve (Fed) cut its policy rate for the first time in four years, lowering it by 50 basis points to the range of 4.75%-5.00%. Following this decision, the decline in the dollar index accelerated. Fed Chair Jerome Powell stated that the decision shows increased confidence in maintaining a strong labor market while ensuring moderate growth and bringing inflation down to 2% sustainably. Additionally, the Fed lowered its federal funds rate projection for the end of this year from 5.1% to 4.4%, suggesting the possibility of a further 50 basis point rate cut by the Fed this year. Technically, if the index falls below the 100.50 level, the 100.0 and 99.50 levels can be considered support. However, if it recovers and moves above the 101.0 level, resistance can be observed at the 101.85 and 102.70 levels.
TVC:DXY
by primequotes
USDJPY Analysis: Awaiting Market Confirmation Post Fed Rate CutHi Traders, Following yesterday's USD news, the Federal Reserve has reduced the interest rate by 0.25%. It seems the market has already absorbed this news, and our attention shifts back to the USDJPY pair. On Tuesday, my analysis showed a price break above the H4 structure. According to this structure, we can anticipate a continuation of the overall downtrend. However, predicting the exact point where the decline will begin is tricky. We'll need to carefully monitor price movements on smaller timeframes for more clarity. On the 1-hour (1Hr) chart, we're looking for either a new higher high (HH) or a slightly lower high (LH) to complete the current wave structure. Selling at this stage is premature. Instead, we’re looking to buy on the current swing of the 1Hr chart, waiting for a potential failure to make a new HH.
Long
by Charts247TradingAcademy