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US-DOLLAR

Will the USD rally continue?At the moment the USD is significantly overbought and could roll over at any moment. For now however what is more likely is a simple pullback and then continuation higher. As the Fed is determined to raise rates and inflation seems to be pretty high, the USD could appreciate even more and the US is very dominant. Maybe a stock market correction or a change in direction by major central banks do have an impact on the DXY, but the current trend is still up, although the USD could fall to as low as 93.9 before continuing higher. Maybe we get a pullback as rates have gone up significantly without the Fed having even started to raise rates yet. Maybe the rally we've gotten up until now is already overdone as the market has priced in the rate hikes. Maybe the market hasn't priced in some of the rate hikes, but the reality is that it is already ahead. The US 10Y yield had lost all its gains relative to other countries since mid 2013, from end of Nov 2018 until the huge oil crash in Apr 2020. Then rebounded all the way up to the point where its collapse hard started in Feb 2020 and then pulled back again. Now consolidating but with no clear direction yet. A lot will be determined on rates in my opinion, however that isn't the only reason the USD could go up or down. At the same time we have a lot of people chasing safe US liquid assets while USD denominated debt is sky high, and higher inflation that isn't caused money printing is doing a lot of damaged to those that hold a lot of USD debt.
TVC:DXY
by BitcoinMacro
Euro Situation I feel that the 4 in Elliott terms is pretty much there - this goes all the way back to my related idea in April this year. We can now see the ABC in this move which is part of the higher TF count. It could even be complete here. Now what we are waiting for is the change of character before jumping the gun. DXY is still playing respectfully - So now it's just a little confirmation and we can expect to see divergence in momentum to price action. Nearly there as they say. Would not be surprised to get a dip to the 123.6% level but less likely to give a full 1.618 here. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
5
USD/CNH Triangle Apex Nears, Will Prices Break Higher or Lower? The Chinese Yuan's volatility versus the US Dollar has eased considerably in recent months compared to price action seen earlier this year. USD/CNH is quickly approaching the apex of a Symmetrical Triangle pattern, however. This may see the currency pair make a break higher or lower in the coming weeks. Technically speaking, the triangle doesn't show bias to either side and prices are gyrating around the 100-day SMA. However, fundamentally, the Yuan's position versus the Greenback doesn't offer a strong picture given the prevailing housing market headwinds in China.
by Thomaswestw
USD Strength: DXY ForecastThe greenback has made a very strong bullish push for the past month. As we start the new month of October, I expect the USD to retrace towards either: The the weekly trendline Previous resistance Support 93.000 ...before continuing higher (Provided positive fundamentals for USD) Things to watch out for this week (Fundamentals): OPEC Meetings (Monday) (Today) ADP Non-Farm Employment Change (Wednesday) Average Hourly Earnings m/m (Friday) Non-Farm Employment Change (Friday) Unemployment Rate (Friday)
TVC:DXY
by NoahXBorg
USD Super Strength ExpectedFundamental wise , The Greenback made a strong push with the ever-rising inflation concern. It seems that the FED is starting to feel the pressure of inflation however the situation remains uncertain as the Delta Variant is still rampant in the US. This seems to be a hopeful outlook towards a rate hike. We should we remain cautious as Final GDP q/q and Unemployment Claims is expected to be released later today (Expected to be good news as inflation is high and the FED announced that they're close to their employment goals. Final GDP q/q Forecast: 6.6% Previous: 6.6% Unemployment Claims Forecast: 333K Previous: 351K On the technical side , remain cautious as price is currently testing the 94.300 Level and may reverse towards a weaker USD. If price breaks and retest level 94.300, I will be looking to go long USD across the board.
TVC:DXYLong
by NoahXBorg