Dollar 4hr Analysis1 Day Time frame
Dollar has been bearish for a couple of days how, ever after reaching a major support zone last week, Dollar bounced back from the support and its currently on a minor uptrend
Dollar: 4hr Time frame
When i spotted the double bottom last week, i knew there is a high probability for dollar to rise from this support.
This week, i expect dollar to continue to rise up to the 102.500 key area.Before we may possibly see the bearish continuation or breakout to the upside.
Fundamentally, US FED may likely cut interest rate this month, which will push the price of dollar down
J-DXY
USDCHF - Short Trade IdeaThis a short trade idea I have for the USDCHF.
It is pretty straight-forward. Trade back into a Weekly iFVG and SIBI then move lower from there. First target is the immediate swing low, and the second target is the older low to the left. Entry somewhere in the gap, and stoploss above the high that entered the previous SIBI.
Sometimes I feel as though I should make my analysis more complicated so it can get featured, but truth be told, there is nothing useful about having a complicated analysis. In terms of technical analysis, this is as accurate and simple as it gets. And usually if a trade is wrong, there is unanticipated news or the tides have turned and a trade in the opposite direction is warranted.
- R2F
DXY, what is next bro?DXY analysis 1/09/24💵
Few things about it:
DXY is oversold and it has 4h and daily FVG higher +
It just tested the bottom of the global range (almost 2 years in consolidation), and most likely it will bounce till dFVG,
On 15m and 1h time frame, DXY has an uptrend (MS( ChoCH) and BoS) until the uptrend on 1h is not broken I will not consider reversal on DXY
DXY and EUR always fill their gaps on high time frames, before they move further and the next move on DXY will be final, so most likely it will keep going higher till 0.5 zone ( equilibrium) of this global range ~103.2-103.4 area
Considering all of this I will expect EUR and all pairs that trade against USD will be bearish unless the uptrend on 1h is broken with DOUBLE shifts only then i will consider DXY's reversal
USDCHF - Catch This 500pip Trade!USDCHF is currently in a 5 wave impulse. Elliott wave theory suggests that if wave 2 is a simple correction, it is likely that wave 4 will be somewhat complex.
From the looks of things, we are seeing an expanded correction for wave 4. We are expecting wave C to complete at the local highs where we got the 0.5 fibonacci.
Trade Idea:
- Watch for wave C completion at the recent highs
- Watch for a trend reversal via trendline break, BOS etc
- once reversal is confirmed, enter with stops above correction or above wave 4 invalidation
- Targets: 0.844 (300pips), 0.825 (500pips), Taper thereafter
Goodluck and as always, trade safe!
King' s ($DXY) return?In #dollarindex chart, #dxy intends to reclaim the support zone that was already broken. If TVC:DXY succesfully reclaims the zone, then i expect this bullish diamond pattern to play out greatly!. If plays out, all markets - #nasdaq #stocks #crypto will have blood bath in mid term. Not financial advice.
BUY GOLDYesterday we had quite a lot of price action on gold. Today we are monitoring gold for potential buys especially during New York session. Currently we have buys at 2514 aiming for targets of 2541.269 and stops below 2505. Seeing how gold has retested that resistance level it is likely to test it today and try to break it. Use proper risk management. Watch out for the 8 AM open... wink wink
DXY Will Go Lower From Resistance! Sell!
Take a look at our analysis for DXY.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 101.502.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 100.706 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
$DXY | SilverEdge Insights |Technical Confluences:
Price action is in Oversold conditions in the Daily and Weekly Timeframe. Likely to see some consolidation of positioning here.
Price action broke out of an Upward Sloping Parallel Channel and cleared itself out of the that Interest Zone too. Likely will see a test to re-enter that Channel due to Oversold conditions.
Elliot wave count shows it is trying to compete Wave C (expected target would be to 71% Fibo Extension levels - possible to test the 100% Fibo level)
A new Downward Sloping Parallel Channel is in play now and Price action needs to see it break the mid of the Channel to see a substantial move downwards
Fundamental Confluences:
With the expected cuts, market started unwinding their long USD positions and it is reflected in the TVC:DXY
The extent of Wave C will really depend on how quick and reactive is the FED in cutting rates (the higher chances of 50bps cuts; the likelier we will see USD get sold.
Building into next week, we are likely to see some traders cover their short USD positions as they size down before NFP data.
However, if there is any gyration on the geopolitical front or US elections, it is possible to see the TVC:DXY reverse back to the top of the Downward Sloping Parallel Channel and top out at the Interest Zone area again
DXY - Looking to Big PictureWhen we look back, when Trump first came, Dxy showed a 5.5% increase, Dxy goes to 103.5. And Trump Dxy is too expensive, the dollar is too expensive, it should fall, the statements started. Then Dxy's 14% decrease went to 88.5. Now Dxy is around 102.
I bought it directly as a fractal from August 15, 2016. If Dxy comes to around 104 until the election, the rapid increase with Trump's arrival corresponds to 110s. It has been an expected area for a long time and when Trump Dxy is at 110s, similarly, if the decrease starts with him saying the dollar is too expensive, it goes to 94s, fractal.
Here, my hopes begin and I say that it is still expensive at those levels, we will go down to 86s. This means a 4-year never-ending mega bull.
I applied the same fractal to the euro, and the much-anticipated 1.02s are here again. If I can get a fund, I will look for swing shorts at 1.12s. The fractal and events looked pretty good to me. It also fit the channel nicely.
FX:EURUSD
GOLD → Inside the key range. Emphasis on MA-200 ↑FX:XAUUSD is once again testing the resistance of the 2531 range, but is not able to overcome it yet. At the same time the dollar is forming a flat in anticipation of important news....
“Dovish” expectations of the Fed and persistent geopolitical tensions in the Middle East will continue to support the price of gold. The Israeli army mobilized thousands of soldiers from special units in preparation for a major operation in the northern West Bank.
Despite the bullish sentiment around the gold price, the upcoming Fedspeak could have an impact on the markets.
Technically, the market is in a strong bullish trend, another range is forming and price is confirming its boundaries. Focus on trend support and SMA-200 on H1. If trend support fails to hold the price, gold may reach the lower end of the range, after which it will continue to rise.
Resistance levels: 2517, 2531
Support levels: MA-200, trend, 2501, 2493
As long as the gold is within the ascending channel, we should consider long positions against the support. But if MM decides to lower the price, we should wait for correction to liquidity zones and count on growth from 2486, 2477.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
Bullish bounce?The US Dollar Index (DXY) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 101.02
1st Support: 100.52
1st Resistance: 101.60
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S&P500 v USD since 2008. Cheap dollar guarantees stock expansionThis is a cross chart analysis between the S&P500 index (SPX) and the U.S. Dollar Index (DXY) since the 2008 Housing Crisis. Ahead of widely anticipated Fed rate cut next month, it is useful to see how the Dollar has impacted from its perspective the stock market on a multi-year basis.
As you can see, the DXY has been trading within a Channel Up since the 2009 Housing Crisis bottom. At the moment it is under the Resistance of the Lower Highs trend-line (dashed) and a rate cut should apply even stronger selling pressure and keep it under. There is still some wayt to go until it hits the bottom of the Channel Up again.
We believe that the stock market is at the point where it finishes the recovery phase (blue Arc) and will enter the expansion phase (green Channel Up), at the beginning of next year. As a result, a rate cut and as a matter of fact a series of rate cuts by the Fed, will do wonders on S&P500, giving investors steady long-term opportunities to buy low and sell high within a strictured Channel.
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DXY "Dollar Index" Bank Money Heist Plan on Bullish SideMy Dear Robbers / Money Makers & Newbies,
This is our master plan to Heist DXY "Dollar Index" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
Stop Loss : Recent Swing Low using 30 mins timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
Levels discussed on Livestream 29 August29th August
DXY: Could trade higher, needs to break above 101.20 (61.8%) to retest of 101.60
NZDUSD: Retracing down, look for reaction at 0.6220, Buy 0.6235 SL 25 TP 60
AUDUSD: Buy 0.6815 SL 20 TP 40
GBPUSD: Could trade up to 1.33, look for reaction at the strong resistance level.
EURUSD: Sell 1.1085 SL 40 TP 85
USDJPY: Sell 144.80 SL 40 TP 140
USDCHF: Buy 0.8445 SL 20 TP 40
USDCAD: Sell 1.3435 SL 20 TP 70
Gold: Could trade slightly higher, look for retest of 2500 to buy the bounce
DXY Will Grow! Long!
Here is our detailed technical review for DXY.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 101.111.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 101.409 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
GOLD SHORT TO $1,964 (4H UPDATE):Gold once again pushed back up into our supply zone, giving us a second chance to enter sell positions if we missed out the first time & this time I got into sells! Our Gold short analysis is down 300 PIPS in profit, since rejecting our supply zone. Beautiful move to the downside!
This is only the START OF THE CORRECTION, before Gold allows us to buy it back at a cheaper price & target new high's in the market🚀
BTC-DXYI checked the BTC to DXY chart
It should be said, is it time for high-risk markets to enter their secondary bull market and once again all the people of the world stare at themselves with their champs, especially in the altcoins sector?
I say yes, the next few will prove that the beginning of this process is taking shape...