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Critical Period for the Markets - To Buy or Not to BuyNot accounting for any fundamentals, the OANDA:SPX500USD and the OANDA:US30USD had a strong rejection from heading lower in 3 consecutive weeks. Fundamentals will be required to decide whether the market is moving back to a long term BUY. We hit a low of ~-20% from the highs on the DJIA and ~ -25% from the highs on the S&P500. On multiple time frames, prices are in a key area. From technical analysis on the daily chart: 1) potentially a double top was forming but did not break the neckline 2) then a double bottom is forming and now we're waiting to see if it breaks the neckline, which is also a major resistance 3) the double bottom formation was pushed up from a 1D demand area, which is also a 1M demand area. Looking at the candle on a weekly chart, it shows a pretty strong rejection. 1) Price printed a lower low vs the previous week at 3721.6 vs 3741.6 2) Previous week was a bullish candle, and this week we have a bearish candle closing in the body of the previous week's candle. 3) Strong rejection candle printed on 14 Jul 2022 with huge wick, followed buy a very strong bullish candle 4) We're facing a resistance zone that was tested multiple times but failed to break. I am expecting a potential fake out for price below 3950, but if candle closes higher, I think we can call buys. (purely based on technical analysis) With fundamentals, we could be more sure of the probability of how the market will move.
OANDA:SPX500USDShort
by geneAnalytics
5
Dollar Index (DXY): Key Resistance Ahead! Your Plan: 💵 Hey traders, Dollar index is currently approaching a solid monthly structure resistance. I believe that we may see a pullback from that structure. Next week, pay close attention to lower time frame and look for a confirmation to short. I will post an update once I see a decent confirmation. Good luck! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
4
Dow Jones Index (US30): Bullish Outlook For Next Week 📈 Hey traders, As you remember, we spotted together a major weekly demand zone on US30. The price has perfectly respected that and we saw a nice pullback. I believe that the market may keep growing in such a manner. Taking into consideration that the index is too oversold, be prepared for a continuation of a correctional movement. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
4
DJI will have some hurdles next week.Hello Friends! I believe DJI has more downside. Currently, it’s trading in the channel that was developed in 2009 to current. Week of June 13th it tested the bottom of the channel at 29653. Now it’s approaching strong resistance at 31533. Going into next week I think any negative news can push this out of this channel and on its way to test the 28495-28902 gap. As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers! *This information and publication is not meant to be, and do not constitute, financial, investment, trading, or other types of advice. Do your own research.
DJ:DJIShort
by MoneyFishing
DXY pushing down all other assets.Hello, dear TradingView members. This idea is a DXY analysis. As we can see on the chart: U.S. Dollar Currency Index broke resistance a little after The Federal Open Market Committee. We are about to see an ascending move in the USD value and a fall in any other known asset in pairs of dollars. For example, USOIL went under $100, and BTC and EUR are both experiencing a downtrend. I have shown you two PRZs on the chart, each of which can be our short-term and mid-term targets. Here is how it affected the USOIL price: Here is how it affected the EUR price: We expect to see the same effect on the cryptocurrency market as well. Let me know if you guys have any questions; I will be more than happy to help. Good luck, and thank you.
TVC:DXY
by ShawnMCR
19
Dow Jones (US30): Very Bullish Forecast For Next Week Hey traders, As I predicted, US30 bounced nicely. The price formed an inverted head and shoulders pattern (classic reversal pattern) and broke its neckline on Friday. It looks like it's time for a correctional movement. I expect a bullish continuation to 32400. Have a great and wonderful weekend, traders! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
6