Dow Jones Index (US30): Bullish Outlook Explained
Dow Jones broke and closed above a key daily horizontal resistance.
We see a positive bullish reaction after its retest.
The index will most likely keep growing to the next key level.
Next resistance - 35470
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Indexes
Dollar Index (DXY): Bearish Outlook For Next Week Explained 💵
Dollar Index broke and closed below a key horizontal daily support this week.
After the violation, the price was coiling for some time within a narrow horizontal
range on a 4H time frame.
The release of US housing data on Friday was very bearish for the Greenback.
The price violated a support of the range, giving us a strong intraday confirmation.
We may anticipate a further bearish continuation now.
Next support - 103.1
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Dow Jones Index (US30): Top-Down Analysis & Trading Plan
Dow Jones Index is consolidating on a key daily horizontal resistance.
Analysing an intraday price action, we can spot a horizontal range on a 4H.
I would suggest waiting for a breakout of the support of the range -
4H candle close below 34760 - as a solid bearish confirmation.
A bearish continuation will be expected at least to 34500 then.
Bullish violation of the resistance of the range will make the setup invalid.
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Dollar Index (DXY): Huge Imbalance 💵
Dollar Index formed a huge bearish imbalance yesterday after a release of a CPI report.
With one single candle, the market violated a significant demand cluster.
It turned into resistance now.
I will anticipate a bearish movement to lower levels.
Next goal - 103.1
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Dollar Index (DXY): Price Action Analysis & Bearish Outlook 💵
Dollar Index formed 2 bearish patterns:
First, the price started to trade within a rising wedge pattern,
Then, a cup and handle formation was formed within its boundaries.
With a single 4H candle, the price violated both the neckline of the pattern
and a support line of the wedge.
I expect a bearish continuation to 105.45 now
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Dow Jones Index (US30): Bullish Continuation is Coming?!
Does a price action on Dow resembles a cup & handle formation on a daily?
34000 - 34450 is a huge resistance - the neckline of the pattern that the index is currently approaching.
Its bullish breakout - a daily candle close above - will be a strong bullish signal
that will push the prices much higher.
Next goal will be 34950.
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Dollar Index (DXY): Top-Down Analysis & Trading Plan 💵
Dollar Index is currently approaching a solid horizontal resistance.
The market formed a head and shoulders pattern formation on that on a 4H time frame.
Monitor the reaction of the price to its neckline.
If a 4H candle closes below 105.43, a bearish movement will be expected.
Targets will be 105.16 / 104.97
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Dollar Index (DXY): Top-Down Analysis & Bearish Outlook 💰
Dollar Index reached a confluence point based on a recently broken
horizontal support and a trend line.
Approaching that the price formed a tiny double top pattern,
violated its neckline and a support of a rising wedge then.
We can anticipate a further decline.
Goals: 105.5 / 105.17
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Dollar Index (DXY): Bad NFP & Bearish Outlook Explained 💵
It turned out that we got very bad NFP release, yesterday.
Dollar Index immediately reacted, and the market formed a huge bearish candle on a daily.
With one single candle, the Index successful broken a support of a wide horizontal range.
It is a sign of a confirmed bearish reversal.
The index will most likely drop to 104.5 support soon.
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Dollar Index (DXY) Under a Bearish Pressure 💵
Dollar Index keeps falling from a solid horizontal intraday resistance,
as I predicted earlier.
As an extra bearish signal, we can spot a confirmed breakout
of a neckline of a descending triangle formation, with a strong bearish
reaction to that after its retest.
The index may keep going lower.
Next support: 105.65
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Dow Jones Index (US30): Important Structure Breakout
US30 Index dropped heavily on Friday.
The market successfully violated a major horizontal demand area.
The broken structure 32570 - 32970 turned into supply zone now.
I will expect a bearish movement from that at least to 31850 level.
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DOLLAR INDEX (DXY): Consolidation & Bearish Bias Explained 💵
Dollar Index is trading within a horizontal trading range on a daily.
The price tested the resistance of the range yesterday
and formed a doji candle on that.
As an extra bearish confirmation, I spotted a double top formation
on an hourly time frame.
I think that the Index will most likely retrace from the underlined
red resistance.
Targets: 106.35 / 106.17
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