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Dollar Index (DXY): Bearish Outlook Explained💲 Dollar Index is trading in a minor bearish trend on a daily. The market is steadily falling within a falling parallel channel. The market is currently approaching a very important confluence point based on a resistance of the channel and a broken horizontal resistance. I believe that chances will be high to see a bearish move from the underlined zone to 101.0 level. Alternatively, remember that a bullish breakout of the resistance of the channel will initiate a correctional movement on the index. ❤️Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
11
Nasdaq-100 Index (US100) Waiting For Breakout Nasdaq Index is stuck between 2 solid structures. Depending on the reaction to the underlined areas, I see 2 potential scenarios. 1 - Bullish If the price breaks and closes above 12700 - 12900 supply cluster on a daily, I will expect a bullish movement at least to 13130 2 - Bearish If the price drops and closes below 12300 - 12500 demand area on a daily, I will expect a selloff to 11900 Wait for a breakout, it will show us the future direction of the market. ❤️Please, support my work with like, thank you!❤️
CAPITALCOM:US100Short
by VasilyTrader
15
DXY Bearish Longterm.Back in May of 2002 price created an imbalance in price for Dollar Index (Monthly Chart). Price had only participated in sell-side delivery, leaving behind buy-side inefficiency. Since that time price has returned to that Monthly SIBI (Sell-side Imbalance, Buy-side Inefficiency. Fully closing the imbalance, making price completely balanced. From that strong Point of Interest, price has reacted aggressively to the downside. It is of my opinion that the Dollar Index is long-term bearish. Short-term i'm under the opinion that the Dollar Index is Bullish, and heres why. Last month price dipped into another monthly imbalance in price...to the upside. I believe this is the first retracement leg for the overall Long-term bearish move. I am bullish DXY until price reaches equilibrium of the most recent monthly range swing high and swing low. Primarily I would like to see price retrace to the .62 FIB for what I believe to be an Optimal Trade Entry. Perfect for Position and Swing traders. For Day Traders/Intraday Traders, I will be anticipating price moving lower to attack sell-side liquidity, then take price all the way up to the level prior mentioned. Ultimately I will buying into the sell. What this means for me is that I will be firstly selling Foreign Currencies paired with the Dollar (i.e. EU, GU, AU etc...) to later buy them once DXY reaches the specified Point of Interest. (.50 FIB/.62FIB or a close of the Monthly -FVG) I hope this idea helps you with your trading. Bless.
TVC:DXY
by chaarate