Dollar Index (DXY): Time For Pullback?!
Dollar Index looks quite oversold after a yesterday's bearish movement.
The price reached a key horizontal support and formed a double bottom pattern on that.
I think that we may see a pullback today at least to 103.9
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Indexes
Dollar Index (DXY): Pullback From Key Level
Dollar Index nicely respected a key daily horizontal resistance.
I see a double top formation on an hourly time frame
and a confirmed violation of its neckline.
I think that the market may drop at least to 104.43 before the news.
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S&P500 INDEX: More Growth is Coming
S&P500 index recently updated the all-time high.
After a violation, the previous ATH turned into support.
The market retested that and positively reacted.
I believe that a bullish trend will continue.
The market may keep growing to 5380.
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S&P500 INDEX: Growth Will Continue!
S&P formed a cute cup & handle formation after quite a strong
bearish movement on this week.
A bullish breakout of the neckline of the pattern
is an important sign of strength of the buyers.
I think that the Index will keep growing next week.
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DOW JONES INDEX (US30): Waiting for FOMC
Do not forget, traders, that tomorrow we are expecting FOMC.
Ahead of these fundamentals, US30 started to consolidate
within a narrow intraday range on a 4H time frame.
I will wait for its bullish breakout for a strong bullish confirmation.
4H candle close above that will confirm the violation.
A bullish continuation will be expected then.
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Dow Jones Index (US30) Get Ready For Breakout
Dow Jones closed this week, approaching a horizontal resistance
based on a current All Time High.
Because the trend is strongly bullish, probabilities will be high
that the price will break that.
Daily candle close above the underlined area will confirm the violation.
A bullish continuation will be expected then.
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S&P500: First Red Day, FRIDAY DAY 3Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Tuesday, Wednesday and Thursday the market bring traders up high, triggering long breakout for three days is a row, breaking higher and failing the weekly level on Thursday, day which closed as well as a first red day.
DAILY TEMPLATE (15min chart):
The market today slightly trigger other time frames in the market, consolidating both the session of Asia and London above CP and previous LOD.
THESIS :
Wait for equity NYO at 9:30, possibility to the big pump and dump to be completed by the next few days if the backside move will start.
Trader in profit also above HOW, I will not exclude scalp long if a setup is presented
SETUP :
Short: LL LOD, pump and dump into yesterday LOD
Long: dump into CP/LOD for a pump back to previous HOD
HERE BELOW, SIMILAR TEMPLATE FOR THE DAY"
NAS100
US2000
US30
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
US30: Day 3, coiling underneath yesterday HODHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Monday day 1 broke higher the previous HOW, failing the breakout, dumping down and closing as a first red red day.
Tuesday day 2, the market consolidated almost all the day at the current LOW placed by the Monday high low, performing a nice pump at the end of the day.
Today Wednesday day 3, the market is in consolidation above the yesterday closing price and previous HOD, a particular situation that often lead to an explosive move. However, indexes open at 9:30 NYT and CPI red news on calendar at 8:30am.
DAILY TEMPLATE (15min chart):
Both Asia and London session consolidated between the CP and HOD, nothing really happened yet.
THESIS :
As always, I do not predict any market direction, because predicting/guessing is just a 50:50 method. However, for a long thesis I would target the previous HOW considering the 3 days dump and pump scenario, but I wouldn't exclude a bigger short scenario back at least to the LOW or breakout traders of Thursday.
SETUP :
Long: consolidation at CP till news release or NYO 9:30am
Short: lower low in place, pump into CP for a dump, eventually also pump into previous HOD for a short setup.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Dow Jones Index (US30): Bullish Price Action Ahead of The News
In 1 hour, we are expecting US PPI report.
Ahead of the release of that data, I see a bullish price action on US30.
After a test of an intraday support, the Index started quite a long correction
within a narrow horizontal range.
Its resistance was broken with a strong bullish candle,
indicating the strength of the buyers.
The market may bounce.
Goal - 39600
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Dow Jones Index (US30): Bullish Rally Continues
Dow Jones keep breaking key levels.
This week we saw a breakout of a one more significant resistance.
Bulls clearly show their power.
I will expect a further bullish continuation.
Next resistance - 39850
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NASDAQ INDEX (US100): Bullish Rally Continues
As I predicted earlier, US100 keeps growing.
Analyzing the index today, I spotted a strong
intraday bullish confirmation.
After a strong bullish impulse, the market started to correct
within a symmetrical triangle formation.
A breakout of the resistance of the triangle signifies that the
correction is over, and that the market returns to a bullish trend.
I think that the Index may reach 12285 level soon.
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Dollar Index (DXY): Bearish Outlook After News 💵
Today's US fundamentals are very bearish for Dollar Index.
After a test of a key daily horizontal resistance,
the price formed a strong bearish imbalance
and violated a support line of a rising wedge pattern on a 4H time frame.
I think that the fall may continue.
Next support - 104.9
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Dollar Index (DXY): Important Key Levels 💵
Here is my latest structure analysis and important
key levels to watch on Dollar Index.
Support 1: 103.88 - 104.1 area
Support 2: 102.93 - 103.25 area
Resistance 1: 105.41 - 105.58 area
Resistance 2: 106.37 - 106.52 area
Consider these structures for pullback/breakout trading.
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NASDAQ INDEX (US100): Intraday Bullish Confirmation
After a breakout of a key horizontal resistance,
NASDAQ retested that and formed an ascending triangle on an hourly time frame.
A bullish violation of its neckline is an important intraday bullish confirmation
and a clear sign of strength of the buyers.
We can anticipate a growth now at least to 18100
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Dow Jones Index (US30): Bullish Rally Begins?!
Dow Jones formed a huge double bottom pattern on a daily,
after a quite extended correctional movement from all-time high.
The price turned very bullish on Friday after the release of US fundamentals.
The Index broke a solid horizontal resistance.
The market may start a bullish rally now.
Target - 39000
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Dow Jones Index (US30): Important Breakout
Dow Jones formed a huge double bottom pattern on a daily,
after a quite extended correctional movement from all-time high.
The price turned very bullish on Friday and broke a solid horizontal resistance.
The market may start recovering now.
Target - 39000
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Dollar Index (DXY): Important Breakout 💵
As we discussed on the yesterday's live stream,
Dollar Index broke and closed below a key daily structure support
after a consolidation
Retesting the broken support, we see a positive bearish reaction to that.
It makes me think that the market will drop lower.
Next support - 105.2
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