DXY Dollar Index December 2016 UP LongAnother leg down for the Index. But then, DXY Dollar Index long until December 2016. Green box is the target zone.
Usd-index
SHORT on the US Dollar indexSince my last post, there has been massive movements with the USD and I expect more to come as the rally of the USD doesn't look completely finished yet.
I still believe this is an Ending Diagonal and the previous wave 5 I posted is looking more like a wave 3 so this is my update as it is looking likely that the strength in the US dollar is still present.
Wave count: Ending Diagonal
Current count: Wave 4 (Expect a flat of shorts as wave 2 was a Zig Zag)
Forecast count: Expect wave 4 to go into the zone of wave 2
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NOTE: Entry, SL and TP are not shown as I am not offering a signal service.
USD Dollar IndexWe see ERC candle and potential divergence which tell us for correction with good risk reward relationship and it's near to physocogical level 100
DXY found resistanceDXY Found a temporary resistance. However I expect a final move upside before falling back. I found quite few harmonic pattern, Expanding diagonal, Wolf Wave Bear pattern and bearish EW count. All conditions are met for a Triple top on DXY before falling harder. You already know what will happen when King fail the battle. Trade well :)
I am neutral on DXY.
TRADING THIS FRIDAY US NFP & AVERAGE HOURLY EARNINGSWith data from Monday and Tuesday supporting the bullish sentiment on US Dollar, we are expecting the dollar strength to continue at least for today till tomorrow, where traders will then turn their focus and attention towards Friday NFP and Average Hourly Earnings.
Find out what does this mean to the US Dollar, and how you can take this opportunity to profit from this event.
www.alphaplay.com.sg
USD Devaluation driving Oil Price Rallly and Gold StrengthThe recent devaluation of the USD is serving purpose to make way for future rate hikes by the FED without causing EM volatility and issue with China's currency peg. As the USD devalues it also pushes up Oil prices which provides relief for entities with Oil based junk bond exposure (Aka US banks).
I see the devaluation as a short / medium term trend as a relief valve for policy normalisation. It should also stoke up some inflation to further give strength to the 'recovery' dialogue.
USD dollar Index: Bearish (daily & weekly)There is also a nice bearish divergence with regards to MACD. Forgot to mention it in the Weekly.
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Cheers
I can became popular, if this happens. ) Long term DXY scenario.No Fondamentals. Only TA levels and possible patterns.
USD Index : Correction Seems CompletedUSD Index made a nice pullback into the area of a former wave four, where new swing occurred. Price bounced up from 96.63 that can be end of a wave 2 so we see price now at the start of a new bullish impulse. There is a chance that market will continue up into big wave 3 this month, so dollar could get very strong against the major currencies. Invalidation level is now at 96.63, so as long this swing low holds, trend is up. Any reversal back to this low will suggest that wave 2 is still unfolding.
Our previous updates on this chart :
USD Index Could Reach Higher Levels After Temporary PullbackUSD index made an impressive run higher in the last 24 hours, to the upper side of a trading channel where gains can be limited, but not for long. What we see is wave (iii) at the high so pullback will be wave (iv) that can retrace back to 96.00 area before uptrend will continue. We think that price is headed up to 97.00 area in the next few trading days.
www.ew-forecast.com
USD Index: Double Top DivergenceLast week, price managed to break and close above the previous structure high. However, just before the market closes on Friday, we saw a double top divergence formed. With the double top divergence in place, we are expecting price to at least retrace to retest the 95.00 region.
As long as this level holds, we can expect price to head and form new high. However, should the 95.00 level is breached, we can potentially see price reaching towards the 94.50 level.
I would love to hear your opinion, feel free to comment, agree or disagree.
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KY
