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DAX crosses the 100 day EMA for the third time this yearThe DAX30 has once again crossed the 100 day EMA for the third time this year. After the previous two crosses, the index went ahead to lose an average of 15%. The index has already reached a trough of 27.55% this year with each drop weakening and bear exhaustion showing up as evident from MACD divergence. The index has priced in a lot of bad news including the impact of Russia's invasion of Ukraine, high inflation pressuring consumers budgets and ECB rate hikes. It is highly unlikely that a recession in Europe has been priced in. The BoE acknowledged that the UK entered a recession in Q3. Eurozone PMIs released this week showed that manufacturing is already in recession territory. Pessimism in the sector is still high but supply chain pressures seem to be falling amidst falling orders. The question on my mind is how deep the recession in Europe will be and how long it will last. I'm currently bearish on European indices as bullish sentiment or lack of bearish price action shows a disconnect from fundamentals. Looking at volume flow (FDAX futures), it can be seen that short positions have largely reduced from a peak of 125K in September to the current 33K. Long positions have also fallen from 134K in Oct to 92K. This implies that the current bullish price action has no legs. This can be collaborated with On Balance Volume showing that inflows might have peaked at the August - September highs. In summary, this is why I'm still bearish and looking to sell the rips: Recession in Europe not priced in or at least partly priced in. Inflation is still a sore thorn for Europe with YoY increases crossing the 10% mark. Volume flows for traders are showing signs for peaking.
CAPITALCOM:DE40Short
by GrizzlyBearBee
DOLLAR INDEX (DXY) Bearish Bias Remains 💵 Update for Dollar Index: last week, we spotted a confirmed breakout of a major rising trend line on a daily. The market is steadily recovering now, and it is coming closer and closer to a broken trend line. I will expect a bearish movement from the underlined blue area this week. Closest support will be 109.6. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
6
MarketBreakdown | GBPUSD, USDCHF, NASDAQ INDEX, BITCOIN Here is a brief technical outlook for 4 instruments in my watch list. 1️⃣ GBPUSD 🇬🇧🇺🇸 The pair broke and closed above a major falling trend line last week. Now the pair is quite weak and looks overbought. For those, who want to buy, I would suggest to wait for a retest of a trend line. Probabilities will be high that the next bullish move will initiate from there. 2️⃣ USDCHF 🇨🇭🇺🇸 USDCHF recently broke and closed below a major rising trend line. The pair is growing steadily and it looks like that soon we will see its retest. I believe that the pair may drop from that. Pay close attention to the broken trend line. 3️⃣ US100 (NASDAQ) Index 📈 I see a local consolidation on Nasdaq. The index is stuck between 2 solid horizontal structures. To catch the next wave, wait for a breakout of one of the boundaries of the underlined range. Its bullish breakout will trigger a bullish continuation, while its bearish violation will push the index lower. 4️⃣ BITCOIN (BTCUSD) ₿ Bitcoin looks very bullish to me. The price set a new local higher high last week, confirming its strength. I would expect a bullish continuation. Consider the underlined supports for potential buying after a pullback. Do you agree with my market breakdown? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
S&P500 INDEX (SPY) Breakout Trade For Next Week Hey traders, What a bullish week for S&P500 index. The market nicely bounced on Friday. Ahead is a key horizontal resistance. 3905 - 3935 is a solid supply zone. Wait for a bullish breakout of that next week. You need a daily candle close above that to confirm the breakout. The breakout will trigger a bullish continuation. Next goal will be 4118. Good luck! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Long
by VasilyTrader
6
Dollar Index (DXY): Key Levels to Watch 💲 Here is my latest structure analysis for DXY. The price is currently stuck between 2 vertical structures: major rising trend line based on higher lows and major rising trend line based on higher highs. So far, these are the closest structures to watch. If the price breaks and closes below a vertical support, the next support on focus will be 109.8 - 110.2 area. For now, I remain bullish biased and I will look for a trend-following move from the trend line. However, the fact that the price set a lower high recently may indicate a coming correctional movement as well. Let's see what will happen. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
4
8300 Minimum Pips reward for SWING TradersUS Dollar index has been in an overall BULLISH since double bottom chart formation formed at price level 90.00 and it will likely continue in same direction over the next couple of months painting a picture of a repeat of 01 Feb 1985 historical price action, leading the price to 164.50 target Consequently, that will play out if price will be able to Break the minor resistance yellow line at 120.50 giving a take away of about 8300 Pips over the next few months. Swing traders will pose for hopping on the pull backs as the trend continues higher
TVC:DXYLong
by Ejike_Odeh
Dow Jones Index (US30): The Next Bearish Wave... 📈 Dow Jones Index is currently trading within a major weekly structure support. To catch a trend-following movement, we should wait for a bearish breakout of 28600 - 30000 area. Weekly candle close below that will most likely initiate a bearish continuation to 26500 support. Be patient and wait for a breakout, traders! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
UShort
by VasilyTrader
6