US Dollar RSI buy / sell indicator The idea is to use RSI indicator to find levels of support and or resistance. Historical analysis shows highest levels as being 80.86 and 88.84. The lowest level is 24.6. Inbetween these extremes are a number of key levels. Right in the middle 54.05 seems to be a crucial level that is touched multiple times. It does not always offer support or resistance so it is not necessarily the level that is most important it just seems to be a midway point. Key levels I will be watching are 68.82 , 63.61, 54.05, 45.30, 32.70. The idea is to follow the flow. If it peaks and then begins a downtrend then I will go short USDollar as it breaks down through the key levels I have identified. Otherwise the plan is to stay long USDollar assets.
US-DOLLAR
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US Dollar - Extremely Bullish Looking The US Dollar Index is looking extremely bullish with clear markets on the chart :
- Breakout since it went past 99/100
- Clear Cup and Handle formation on the Weekly and Monthly time frames
- Bullish W formation from 2018-2022
Are we looking towards 120 and 134 as medium to longer term targets?
What does this mean for the other currencies? EUR and GBP are already collapsing against USD....
Bearish Divergence on DXY could be good for Bitcoin and CryptoThe daily chart of the US dollar (DXY) shows bearish divergence. This occurs when there is a higher high in the price and a lower high on the RSI over the same time period. The blue MACD line also crossed below the red signal line, indicating a change in trend to negative for the dollar. This set up indicates that the price of the dollar could fall further to an oversold condition. A fall in the dollar would likely drive a rise in Bitcoin, Ethereum and other crypto as they tend to have an inverse relationship. It is important to note that crypto has been trading closely with the stock market. I recently posted about how the SPY has a bullish divergence on the daily chart with RSI. This could lead to a stock market rally in the near term, which would mostly likely result in a Bitcoin and crypto rally.
Let me know your thoughts in the comment section.
David Zanoni
USDCAD - BEARISH HEAD AND SHOULDERS 📉the USDCAD price is in bearish head and shoulders pattern, and is in daily resistance level .
i predict a bearish move 📉 i'm waiting for breakout and retest in the key level 🚀
TARGET: 1.27243 🎯
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
US dollar and DXYThe US dollar still maintains some strength after the DXY recorded the last peak at 103.78, before the results of the Job Openings and Labor Turnover Survey (JOLTS) were released today.
Also this week, the US dollar is awaiting many important indicators that affect its trading, starting from tomorrow, Wednesday
The 1.4% decline in first-quarter GDP released last week may catch the eye of the FOMC with high inflation readings and waning positivity labor market data support prospects for a follow-up rate hike
104 to 104.70 a very possible target in the coming period and we may see more
USDCAD LOSING STEAM, Reversal towards end of April?Hello Traders,
Looks like the market conditions changed since Sunday so we have shifted to a bearish
moves for usdcad.
Weekly and Daily bearish overnight and into todays economic news.
Price below all emas.
Down down it shall go.
As always, only trade what you're willing to lose.
USDCAD TO CLOSE OUT APRILHello Traders,
Happy Easter to those who celebrate worldwide! As we enter the final trading
days in April, we have FOMC, inflation report due this week which can highly
impact the markets.
With long term views, we see possible bullish continuation in usd and a
correction in CAD, high oil prices, rates up, they have to curb it or the Canadian
population will really get squeezed.
Views - above 1.25800/1.26000 buys....
below that, we are undecided.
OANDA:USDCAD
As always, only trade what you're willing to lose!
The trading regime.
Gold analysisGold analysis on the two hours, gold stands at an important juncture, there is a possibility that it will break the trend and head strongly to the downside, and it may break the trend to the upside to test the 1956 levels, and the decisive factor will be for the fundamental analysis And for the news released by the US Federal Reserve, please be careful during your trading and pay attention to the news, happy and profitable week to all.
US DOLLAR INDEXThe dollar index has been maintaining an upward movement since January, the important levels are 90, 94, 100. As we all know who trades cryptocurrency, as long as the dollar index rises, the major cryptocurrency will retain its coreling. At the moment, the trend change after breaking through the level of 95 and fixing under it.
Rubble's reaction to Russian InvasionsIn 2008, Russia invaded the sovereign nation of Georgia. This invasion and resulting sanctions resulted in a 37.1% drop in the value of the Rubble vs. the U.S. Dollar. In 2014, Russia invaded the sovereign nation of Ukraine. The resulting international sanctions resulted in a 60.55% reduction in the value of the Rubble against the U.S. Dollar. This is likely just the beginning of the pain instore for the Rubble over the latest Russian invasion of the sovereign nation of Ukraine.