The gold chart here shows a similar outlook to what we had last week. We played off the area of supply we marked, selling off nicely into the lower end of the range. After taking the liquidity across the lows, we saw a strong pullback with a large area of imbalance created, indicating upward momentum. However, it's important to remember that the overall ranges are...
Hey Traders, The dollar index has been moving to the upside making some form of a wedge or a contracting diagonal. According to the basic technical analysis and based on Elliot waves theories, we should expect a reversal once the diagonal is completed. In addition to that, we can observe divergence by looking at the MACD. This indicator is used to predict when...
Here is our detailed technical review for DXY. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 105.848. Taking into consideration the structure & trend analysis, I believe that the market will reach 106.111 level soon. P.S The term oversold refers to a...
#dollar index #dxy chart has made a bearish divergence and a minor dump occured after divergence. And chart has additional bearish patterns thus , a correction will likely be necessary. Not financial advice.
**Monthly Chart** DXY has been moving into a long-term range between 107 and 100 levels (round numbers) from January 2023. Last month candles closed lower after creating manipulation candles on monthly. This month's candle (currently active) tested the low of the previous two months and pushed higher with the NFP announcement last Friday. This moved DXY back...
Just like USDT Dominance, US Dollar Index (DXY) has a somewhat inverse correlation with Bitcoin's direction. If we look at the DXY historically, whenever the DXY was in a downtrend or sideways movement, Bitcoin was in an uptrend. Also, whenever the DXY was in an uptrend, Bitcoin was in a downtrend. Simply put, if the DXY goes up, that means the U.S. dollar is...
FX:EURUSD is forming a consolidation, characteristic of a pre-breakout, against a key support line as the dollar index continues to gain support and hold north. A strong bearish situation is developing on D1. There is no strong buyer in the market that can turn around a weak market under pressure from strong bears. The market is below the MA200-MA50 daily...
📅 Let's dive into today's analysis. We're focusing on the EUR/USD pair, which shows the value of the Euro against the US Dollar. This analysis will help us understand whether the US or European economy is stronger. 🧩 To better compare these currencies, it's helpful to also consider the DXY chart. For a full DXY analysis, you can find the link in the...
The Dollar Index (DXY) has experienced two significant bullish legs followed by pullbacks. Currently, it is at the end of the most recent pullback. Notably, the falling momentum appears to be weakening, as evidenced by the shorter and less intense downward legs during the pullback phases. This weakening momentum suggests that the bearish pressure may be subsiding,...
💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on DXY , dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 📊 Using DXY as an...
Hey traders, EURUSD is offering us a nice opportunity to get in and ride the move down. SHORT Setup: Watch Sell Zone for entry Stoploss: Above 1.07466 Targets: 1.062 ( 100 pips ) and 1.058 ( 150 pips ) Good Luck and Trade Safe!
Hey Traders, By looking at the higher timeframe for EURUSD, we can observe that EURUSD is preparing for a big move to the upside. We are currently in a zigzag ABC pattern. This kind of pattern is made up of 3 waves. Wave A = 5 waves, Wave B = 3 waves, and Wave C = 5 waves. We are now in wave C = 5 waves. Once we complete wave C, we can prepare for the big...
28th June DXY: bullish, wait for retracement to complete (should stay above 105.90), look for bounce and breakout of 106.12 to climb to 106.40 NZDUSD: Sell 0.6070 SL 20 TP 60 AUDUSD: Do nothing, wait for reaction at key levels USDJPY: Could still head higher, but exhausted for now, look out for possible intervention GBPUSD: Buy 1.2705 SL 25 TP 60 (Counter...
Expecting continuous weakness as price has broke its ascending trendline. Price is now retracing back to Fibonacci levels where our sell zone is marked. SHORT Setup: - Watch for a rejection at sell zone for entry - Stoploss: Above the high after entry - Targets: 1.2539 - 1.24200 Good Luck and trade Safe!
I see a nice bullish pattern on an hourly time frame on Dollar Index. After the price set a new higher high, the market started a correctional movement within the expanding channel. Such a channel is called a bullish flag pattern. Bullish breakout of the resistance of the flag is a strong bullish trend-following signal that indicates the strength of the...
The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.0700, positioned close to the breakout level. This offers an entry...
DXY: The USD index yesterday received both good and bad news. Therefore, we see that the USD largely maintains a state of accumulation and adjustment. On the Daily frame, a fairly positive candlestick is formed around the 105.70 threshold. However, in today's session, DXY is at risk of a deeper correction to around the 105.50 - 106.00 area and maintains its...
The AUD/USD FX:AUDUSD pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.6644, positioned close to the breakout...