The $USD was fun on the way up but much more fun on the way down.
now gold have made the reject point let now expect it to drop down to 1789 before an open buy up
US jobs data coming up today. The news will cause movement so be careful. Buys should be closed because the expected rise to 1,0540-60 has already been completed. There will be an option for new aggressive buy trades on correction or after the news. We expect the movement to end and reverse around 1,06.
When we look at the gold price chart in the weekly time frame, we see that the price is in a range where the valid Fibonacci retracement percentage is in the range of 38.2% compared to the previous downward wave (wave 1)! On the other hand, if we pay more attention, we will see that this range is just below the diagonal line, which we know as a valid broken...
In the weekly time frame,The dollar index is on the 38.2% Fibonacci retracement range, while the main wave is on the way to touching the channel ceiling!
In my opinion, the dollar index has completed a complete 5-wave in the daily time frame. We are currently in the ABC correction. Wave A is complete. Wave B ended with 3 moves. Wave C consists of 5 waves. In my opinion, now wave 3 out of 5 is completed and we have to wait for the beginning of wave 4 out of 5. Wave 4 consists of 3 big movements. In my opinion, Wave...
At timing range .... We will see double bottom before dxy pullback to KPIs
Keep in mind this is a long-term view looking at a weekly chart with the month of December just starting (Typically a weak USD month, so spikes in support are probable) Since June 2021, the DXY index has started a bullish trend, with this trend becoming parabolic at the beginning of 2022. Finally, after a high near the 115 figure, the index has started to...
DXY fall back to the channel and turn back around on July 4
Hi guys iam haj ali My idea for dxy today 💁♂️ Lo❤ All
As the DXY rises, commodities generally will fall. Even though GOLD sometimes is thought of as more of a defensive asset and inflation hedge, that theory has been moot lately. SILVER and GOLD (the Burl Ives trade) will continue to languish in these downward channels on the weekly charts as long as the dollar is remaining strong. They are both extremely oversold...
This is the first pull back to the Daily orderlock after the possible trend change so its a high probability short as of now. Strong momentum from the weekly levels develops the trend change bais.
Similar to the EURUSD, the GBPUSD continued to surge strongly to the upside as the price broke beyond several key resistance levels to test the 1.23 price area. While the GBPUSD could retrace briefly down toward the 1.2150 and 1.22 price area, look for the development of the price action to signal a continuation of the uptrend. If the GBPUSD breaks strongly...
Today I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period. The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. The chart shows major touch points where the DXY is either supported or crosses support and resistance lines on the multi-year period. Currently if DXY heads...
Even though we are bullish on Gold long term, I still believe there's a chance that we could be entering a Wave 2 correction, which could lead into 2023🤔 If you look at the chart, you'll see market has or is just about to finish its 5 wave impulse move, which would mark the completion of Wave 1. This should technically be followed by Wave 2 correction, which...
As the DXY continued to weaken, Gold saw the most benefit as the price climbed steadily to the upside, reaching a high of 1800 which was previously tested in August. Further upside can be anticipated with the price expected to break above the round number resistance of 1800. Be aware of higher volatility with the rice expected to continue climbing toward the...
Key news events due today: Average Hourly Earnings m/m, Non-Farm Employment Change, and Unemployment Rate The DXY continued to slide overnight, as the price broke below the 105-round number support level to approach the 104.60 price level. This move was driven lower as the core PCE price index was released showing a smaller-than-expected change in inflation...