INDEX_DXY_4H🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
hello
Analysis of short and medium term dollar index
The analysis style is based on Elliott waves.
The indicator is in an ascending wave, which is currently the big 3rd wave, which is again a downward correction wave as wave 4 and again the continuation of the ascending wave towards wave 5.
3 wave resistance 105.000
Support wave 4 number 103.300
5 wave resistance 106.600
Index-dxy
DXY D1 - Short Signal DXY D1
Cleaning up our dollar index chart here, we have previously been following the price level of 103.000, then 103.300 and now we are looking at this 104.000 whole number. This would be an area of resistance we would yet again expect a rejection. Of course, we have exploded through both previous zones, after some consolidation.
Without trying to catch a falling knife, so to speak… There certainly should be a correction due on the dollar index in the near future. The bullish D1 candle run has been insane, I’d like to see a correction to around 102.000 after testing 104.000 territory.
Barriers in the interim sit at 103.300 support and 103.000 support respectively, simple resistance to support and support to resistance as we break and move beyond certain trading zones.
USDollar Is In Higher Degree Recovery ModeDollar Index with ticker DXY has turned bearish after the corrective rally stopped at 105.70-106, an important resistance area at the end of June. Since then, the price even accelerated lower through summer so it appears that a bearish impulse, but with current sharp bounce out of an ending diagonal on 4h TF, we believe that correction is now in play. Notice thats a very sharp leg up, so its wave a, still first leg of a minimum three-wave a-b-c recovery that can take index back to 61.8% Fib, near 104 which can be very strong resistance for the next sell-off, especially if we consider that this can be wave 2 rally.
DXY H4 - Buy SetupDXY H4
The dollar index has been steadily climbing since it last reached the significant support level of 104.000. We have observed higher highs and higher lows until recent trade (Friday). The release of NFP/AE and UE figures on Friday caused market volatility, notably impacting XAUUSD.
Despite breaking through south of the 105.500 level, we have found some support around 105.000. If 105.000 level holds, we could see a rebound, potentially targeting the 106.500 level once again, which has always been our eventual swing target.
DXY H4 - Long SignalDXY H4
Support price of 105.100 held nicely. We seemed to bounce as we look to continue the bullish trend up towards that next target price of 106.500. Certainly possible, even maybe today if we gear up for more dollar bulls moving into the US session.
We need to first sustain this break above the previous high, we have drawn the resistance (black line) marking previous H4 resistance. Possible retest (could offer entries for ***USD or USD*** pairs if they align).
DXY H4 - Long signal DXY H4
Dollar is moving as expected, bouncing from that 105 price we were marking up and focussing on from last week. Following all the economic data points, support held out and corrected perfectly.
We have since approaching 105.600 price, a key area of S/R. This also ties in with GBPUSD support price. An area where we may see a bit of a correction (as annotated) before seeing the next bullish leg upside.
DXY US INDEX LONGhi traders as i can see a very simple view on Dxy chart
that the bullish move is still going to complete the given level
if we watch deeply in the chart the DXY holding a strong support zone with a strong data of CPI & NFP with FOMC meeting minutes then its an easy target for incoming days
Kindly share ur thoughts via comment session...
stay tuned for new updates
US500 - Detailed Video Analysis 📹 From Weekly To H4Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 Here is a detailed update top-down analysis for #US500.
Which scenario do you think is more likely to happen? and Why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
US500 - Break or Make Zone ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📊 After successfully rebounding from the previous major low at 4340.0, the US500 has displayed an overall bullish trend over the past few days.
However, it currently faces a formidable resistance level, which suggests that bearish pressure could emerge in the near future.
📉 For the bears to gain control, a break below the most recent minor low at 4487.0 is essential.
📈 Conversely, if the bulls maintain their dominance and manage to breach the 4540.0 resistance, we can anticipate further bullish momentum towards the subsequent resistance at 4600.0.
Which of these scenarios is more likely to occur first, and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US500 - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for US500 .
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
easyMarkets DXY Daily - Quick Technical OverviewSeeing a small retracement back down on DXY, after some bullish performance last week. If the index continues to trade above that short-term tentative upside support line, drawn from the low of February 2nd. More buyers may join on a break above the current highest point of February, at around 104.61.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
US500 - Detailed Video Overview!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for US500 .
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
could the dollar be topping out?there are a few paths we could take between fib with r1 and fib with pivot. rainbow is confirming progression toward resistance in the dollar. dxy down means in this case broader markes indices futures up and crypto large cap (btcusd bitstamp) up. as btc rebounds expect it to go to close sideways with alts up after it attains same high.
DOLLAR RETRACE TO 103+ ON FOMC & NFP VOLATILITY ?COT:
Dollar has weakened significantly since mid NOV-22
Driven by institutional selling of long contracts since begin Q4-22
Assisted by accumulation of short contracts sinds JAN-23
Outlook for Q1-23 remains sideways to down
Next downside level is 99.60
FOMC & NFP:
Before another drop below 100 big figure a retrace is likely
103+ will likely be mitigated in FEB
103 = mitigation level = GAP resistance = sell VWAP
Begin FEB is pivotal week(s) with FOMC & NFP
FOMC and/or NFP volatility will likely facilitate the retrace
OUTLOOK:
Will be monitoring price behaviour between 103.00 - 103.25
Looking for change of behaviour on the lower timeframe (wicks into mitigation-level)
Anticipating a swing lower from 103+ to 100- after mitigation
This will offer buy setups in the MAJORS, with a preference for commodity CCY's
DXY D1 - Awaiting breakout of consolidationDXY D1 - For the last 2/3 weeks we haven't seen an awful amount of movement from the dollar and many other pairs that have yet to cause or given a definitive breakout to show currency bias/direction.
I think this week will mostly be keeping an eye on the introduction of volume, headlines and everything else to follow which may give us an indication of what we should look to buy and what we should look to sell.
DXY very bullish ! growth can continue up to 120The Fed had on Wednesday had hiked the upper target for fed funds to 4.0%, its highest since the Great Financial Crisis, while Chair Jerome Powell had said that interest rates will have to go higher than previously thought, even if the size of individual hikes from now on is likely to be smaller than the 75 basis points seen at the last four meetings. If we can break through the previous high, the growth will continue very strongly.
DJI - hawkish FOMC indicates downsideHello everyone,
After todays FOMC meeting which saw an increase to the Fed Funds rate by 75bps, the hint for Fed's Powell continued inflation pressures yet to be resolved are clear. The hint for "Fed Pivot" was not, with clear emphasis that hikes should continue.
Technically, on the Weekly TF, DJI is facing strong resistance at 0.786 fib level as well as top of 50 MA, which seems to have a rejection. The move was sparked by hitting the 0.5 (50% retracement) on Pivot hopes as well as earnings hopes. It is very likely we should test major support level of 28600, if not, a move onto to trend line support. Elliott wave count also suggest a top of the current trend.
With both earnings and Pivot hopes being crushed, I'm waiting for further economic data which could give me an idea for the next possible moves of DJI.
Let me know what you think.
DXY's Fall will be brutal
Lets take a look at the USD Index DXY
Its been forming a hell of a bear flag all the way since 2008 and we're now in the final moments of reaching its top.
Right now the 5th wave of C looks like an ending diagonal (yellow) count where the 5th wave gets extended forming a broadening wedge top formation.
Once that breaks the game is on for lower.
DXY should turn before 112.943 (so that orange w3 is not the shortest within the parent wave)
In order to keep this idea valid DXY may not exceep 2.618 of AB @ 117.56 / local 1.886 @ 117.70 confluence