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🔥 DXY INDEX bearish analysis) 1D tame Fram 🖼️) 🕐🕐hello traders what do you think about dxy index)? guys dxy index. Breakdecline Support level that a retest Rsl 105.000 breakdance to confirm selling pressure down. Support level 104.300 Gold poised for first weekly drop in four before US jobs data Dec 8, 202315:23 GMT+5 KEY POINTS: Gold down 1.5%, silver loses over 6.6% this week U.S. dollar on track to snap three straight weeks of losses U.S. non-farm payrolls data due at 1330 GMT Gold prices were flat on Friday, as markets looked forward to the crucial U.S. jobs data for more clues on the Federal Reserve's monetary policy decision, although a firmer dollar kept bullion on track for its first weekly fall in four. Spot gold GOLD was steady at $2,027.39 per ounce by 0951 GMT. Bullion, however, has fallen nearly 1.5% for the week so far. U.S. gold futures GOLD were flat at $2,043.70. Bullion scaled an all-time peak of $2,135.40 on Monday on elevated bets for a rate cut by the Fed, before dropping more than $100 on uncertainty over the cut's timing. "Traders are expecting to get a clear idea on how the Fed is going to change their policy decisions in the coming meeting - so today's jobs data would be the primary key," said Hareesh V, head of commodity research at Geojit Financial Services. "Major crash in gold is not the immediate trend because most of the parameters are favouring prices and the Fed policy would be the key trigger that can guide medium to long term direction of gold prices" The U.S. non-farm payrolls report for November is due at 1330 GMT. It is expected to show that employers added 180,000 jobs last month. (USNFAR=ECI) The dollar index DXY , meanwhile, was up 0.2% and set to snap a three-week losing streak, making gold more expensive for other currency holders. Markets are pricing in a 60% chance of a U.S. rate cut as soon as March, CME's FedWatch Tool showed. Lower interest rates boost the appeal of holding gold. Spot silver XAGUSD1! lost 0.2% to $23.73 per ounce, while platinum PL1! gained 1.3% to $918.84. Both were set for weekly declines. "Palladium's long-term bear market looks set to continue, with prices likely to halve again over the next 2-3 years," Citi Research said in a note. Palladium XPDUSD1! rose 0.6% to $975.81, but was set to log a second weekly loss.
TVC:DXYLong
by SMC-Trading-Point
🚀 Ethereum: Breaking the Triangle! Next Stop - $1600 ??Ethereum (ETH) is currently carving its path within a significant ascending triangle, a pattern that often signals powerful price movements. However, recent developments suggest a breakthrough, warranting a closer look at the potential implications for traders and investors. Chart Analysis: Breaking Boundaries Ascending Triangle Overview: ETH's journey has been marked by an impressive ascending triangle, indicative of a bullish trend. Triangles often precede substantial price movements, and ETH's recent actions are proving this pattern's significance. Boundary Breakthrough: Recent price action shows a decisive breakout above the upper boundary of the ascending triangle. The breach is a notable event and potentially indicates a shift in market sentiment. Key Observations: Unleashing Potential Moves Retesting $1600: With the breakout, attention turns to a possible retest of the $1600 level, a key support-turned-resistance zone. Successful retests often validate the strength of the breakout. Altseason Signals: ETH/BTC Dynamics: Genuine altseason signals may emerge when ETH performs a shakeout beneath a critical level on the ETH/BTC chart. This dynamic is essential for assessing Ethereum's strength against Bitcoin, a pivotal metric for the broader altcoin market. Strategic Implications: Preparing for Opportunities Trader's Focus: $1600 Retest: Traders keen on ETH should closely monitor the $1600 level for potential entry or exit points. A successful retest may open doors for further upward movements. Altseason Precondition: ETH/BTC Shakeout: Recognizing that true altseason vigor often aligns with Ethereum's strength against Bitcoin, traders should keep a keen eye on the ETH/BTC chart. A shakeout below a key level on this chart could signal the beginning of a broader altcoin rally. Trading Strategy: Navigating Ethereum's Evolution Risk Management: As Ethereum undergoes these transformative phases, risk management remains paramount. Adjusting positions in response to key levels and market dynamics helps mitigate risks. Long-Term Investment Consideration: For long-term investors, understanding the broader market sentiment and the evolving narrative around Ethereum is crucial. A breakout and successful retest may reinforce long-term bullish perspectives. Conclusion: Ethereum's Next Chapter Unfolds As Ethereum breaks free from its ascending triangle, the cryptocurrency market anticipates its next moves. A potential retest at $1600 beckons, presenting both opportunities and challenges. Moreover, the closely watched ETH/BTC chart holds the key to signaling broader altcoin enthusiasm. 🚀 ETH's Breakout | 📉 $1600 Retest Anticipation | 🔄 ETH/BTC Altseason Indicator ❗See related ideas below❗ Share your insights on Ethereum's unfolding narrative, contributing to a vibrant discussion within the crypto community. As Ethereum embarks on its next chapter, collective analysis enriches our understanding of its evolving dynamics. 💚🚀💚
Long
by Yaroslav_Krasko
Sweep + Retest = Trend Change for DOGE 🔄💹 🌕 Hey Crypto Enthusiasts, Let's delve into the recent journey of Dogecoin (DOGE), a coin that experienced a significant drop following manipulative actions on the daily timeframe. However, history seems to be repeating itself, with a twist – this time, we're gearing up for a bullish resurgence! 🔄💹 Unraveling the DOGE Story: Manipulation Unveiled: Scenario: DOGE encountered manipulation, evident in a swift sweep of a crucial level on the daily chart. Outcome: The manipulated move led to a retest from below, signaling potential downside. Echoes of the Past: Parallels: Fast forward to the present, DOGE has replicated a similar pattern – a sweep from below and a subsequent retest. Deviation: Unlike the previous instance, this time, the narrative is poised for an upward turn. The Twists and Turns: Manipulation's Impact: Rapid sweeps followed by retests often create an environment of uncertainty, leading to sudden market shifts. Resilience Unleashed: DOGE's recent actions suggest a resilient comeback, defying the expectations set by the manipulation-induced drop. Interpreting the Signs: Sweep and Retest Dynamics: Sweeps and retests can be both bearish and bullish signals, depending on the context and subsequent market behavior. Market Sentiment Shift: A shift from a bearish scenario to a potential bullish resurgence indicates the resilience and adaptability of DOGE. Looking Ahead: Bullish Anticipation: The current setup hints at a bullish momentum, showcasing DOGE's ability to bounce back after challenging market conditions. Monitoring Price Action: Keep a close eye on price action post-retest, as it can offer insights into the strength and sustainability of the anticipated bullish move. Conclusion: DOGE's journey reflects the ebb and flow of the crypto market, where manipulation sets the stage for unexpected twists. As DOGE takes center stage again, the narrative shifts towards a resilient comeback, showcasing the coin's ability to navigate through market complexities. Wishing you a prosperous journey with DOGE! ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
by AlexWhale