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sell @AUDUSD, now.The AUD/USD declined on Thursday and fell below 0.6500. However, despite this correction, the short-term outlook still favors the upside as the Greenback remains under pressure due to weaker US labor market data and declining US Treasury yields. Data from Australia showed that employment rose by 55,000 in October, surpassing the consensus estimate of 20,000 and significantly higher than the revised figure of 7,800 from the previous month (originally reported as 6,700). Most of the job gains were in part-time positions. The Unemployment Rate rose from 3.6% to 3.7% as expected. The Melbourne Institute reported a slight increase in the expected one-year inflation rate to 4.9% in November, up from 4.8% in October. Despite the solid employment data, indicating a relatively tight labor market, and the rise in inflation expectations, the AUD/USD dropped during the Asian session as the US Dollar recovered ground. In the US, most economic data came in below expectations. Continuing Jobless Claims reached the highest since 2022, and Initial Claims rose to 231,000, the highest level in nearly three months. Industrial Production declined by 0.6% in October, exceeding the modest 0.3% contraction expected. On the positive side, the Philadelphia Fed Manufacturing Survey Index rose from -9 to -5.9, and the Kansas Fed Manufacturing Activity index recovered from -8 to -3 in November. The US Dollar weakened after the data, but the decline was not significant, and it quickly reversed back into positive territory as market sentiment deteriorated.
Short
by GrandeMaster
💵U.S.Dollar Currency💵 Index Analyze (Road Map)!!!🗺️U.S.Dollar Currency Index ( DXY ) was able to break the Important Resistance Line , and I expect that DXY will grow UP at least over Resistance Zone , and then we will see the pullback to Resistance Zone by microwave 4 of Main wave 5 . After this happens, we will probably see the end of the Main wave 5 at my TRZ (Time Reversal Zone) and on top of the Ascending Channel . U.S.Dollar Currency Index ( DXY ) Analyze Timeframe Monthly (Log Scale). Do not forget to put Stop loss for your positions (For every position that you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXY
by pejman_zwin
DXY - Prediction & Correlation with BTCHey everyone. I hope everyone is doing well. I have A VERY VALUEABLE chart here which contains some valuable information for predicting where INDEX:BTCUSD will be heading. Also note that altcoins move in tandem with BTC especially when it makes a big move! If you're new to BTC or are otherwise unaware, BTC has had a strong correlation with the DXY over its history. Whichever way the DXY is moving, BTC is USUALLY moving the opposite direction. If you go back and look at the start of BTC's previous 2-3 bull runs, you will notice that they start at around the same time the DXY is topping out. With that said, It's important to note that the DXY is currently at a resistance level which you can see on the chart. This will be the 3rd attempt at this resistance level which is significant because when learning technical-analysis, you learn that the 3rd attempt is usually a MAKE-OR-BREAK type of situation. Either you break through resistance and turn it into support, OR you get rejected a 3rd time which usually leads to the current SUPPORT level breaking under it as well. These are MONTHLY candles. Notice how the previous 2 rejections at this resistance show decent sized "wicks" at the top where they were rejected. Candle "wicks" are usually a good sign of a trend reversal coming, especially when there are multiple wicks at the same resistance/support levels. There are just over 4 days left in this month so if the DXY is to get rejected here (VERY UNLIKELY), it needs to start dropping fast. I don't think that is going to happen this time as the DXY still appears to be strong on the smaller timeframes. However, IF the DXY does somehow get rejected here, It's very likely that BTC will bounce and see a major trend reversal. Like I said, I think that scenario is highly unlikely and the most likely outcome is DXY continues UPWARDS, and BTC continues DOWN. I've included a couple indicators which support the IDEA. The RSI indicator is showing a higher-high, where the price action is showing slightly lower-highs. This usually is a sign of strength compared to the previous rejections indicated by the yellow circles on the chart. It is a good indicator that the DXY has more strength now than previous attempts, and will likely BREAK ABOVE resistance and continue UPWARDS! I've also included the MACD, which I often like to use along with the RSI. At the previous 2 rejections, the MACD indicator had crossed down and was looking very weak. The MACD is in a MUCH BETTER position now and is actually looking VERY STRONG. Both of these indicators suggest that the DXY has more strength than it did at previous times at this level. This supports my idea that the DXY will continue upwards and also supports my previous charts showing BTC will likely continue downwards. Notice I drew a line which is just speculation showing a possible path that I think is likely for the DXY going upwards. The line shows the DXY eventually getting rejected at a major resistance level from 2000-2001. What's important here is if the DXY does continue upwards to the 2000-2001 resistance level, It will likely be around the same time as the next BTC halving event which is in MARCH 2024. THIS MAKES PERFECT SENSE as that's around the same time I expect BTC to start another MAJOR BULL RUN to 100K+. HISTORICALLY, over the past decade, EVERY BTC BULL RUN started right after the BTC halving event. The next BTC halving event is MARCH 02, 2024. For those who do not know, A BTC halving event happens approximately every 4 years. The halving events specifically reduce the amount of BTC that BTC MINERS earn by 50% from that point forward. So, over time, It becomes harder and harder to earn BTC and BTC becomes much more scarce. Eventually (in year 2140) the last BTC will be mined and no more BTC will ever be created again. This is what gives BTC value, makes it deflationary, and also the reason we always see a bull run after the halving events. Well, I feel I've rambled on and on enough now. Hopefully this information helped some of you. If you guys like this idea please Like , follow, and share! I appreciate it A LOT as I always put a LOT of time into these ideas, especially the ones I post to TradingView. Also feel free to comment and leave me your thoughts. Thanks again
TVC:DXYLong
by Mboersma0324
3
DXY (US DOLLAR CURRENCY) Index Analysis 08/01/2022Elementary Analysis: The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners. This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies. Understanding the U.S. Dollar Index (USDX): The index is currently calculated by factoring in the exchange rates of six major world currencies, which include the Euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish krona (SEK), and Swiss franc (CHF). The EUR is, by far, the largest component of the index, making up 57.6% of the basket. The weights of the rest of the currencies in the index are JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).1 The index started in 1973 with a base of 100, and values since then are relative to this base. It was established shortly after the Bretton Woods Agreement was dissolved. As part of the agreement, participating countries settled their balances in U.S. dollars (which was used as the reserve currency), while the USD was fully convertible to gold at a rate of $35/ounce. An overvaluation of the USD led to concerns over the exchange rates and their link to the way in which gold was priced. President Richard Nixon decided to temporarily suspend the gold standard, at which point other countries were able to choose any exchange agreement other than the price of gold. In 1973, many foreign governments chose to let their currency rates float, putting an end to the agreement. An index value of 120 suggests that the U.S. dollar has appreciated 20% versus the basket of currencies over the time period in question. Simply put, if the USDX goes up, that means the U.S. dollar is gaining strength or value when compared to the other currencies. Similarly, if the index is currently 80, falling 20 from its initial value, that implies that it has depreciated 20%. The appreciation and depreciation results are a factor of the time period in question. The U.S. dollar index allows traders to monitor the value of the USD compared to a basket of select currencies in a single transaction. It also allows them to hedge their bets against any risks with respect to the dollar. It is possible to incorporate futures or options strategies on the USDX. These financial products currently trade on the New York Board of Trade. Investors can use the index to hedge general currency moves or speculate. The index is also available indirectly as part of exchange traded funds (ETFs), options, or mutual funds. we have Analyzed the DXY on 04/01/2021 and it went exactly as we have Predicted it with Laser Cut Precisions which is linked to this idea too for our reference: Fundamental Analysis: looking at the current inflation Rate and given interest rate by FED, we can have some vision of a sad ending for USD, it seems to be a bit over valued and shall correct itself soon. however the best way of understanding this situation is to look at the current US Markets and the related Indices such as US500, US30, and Nasdaq, which we have noticed many sign of upcoming beer Market and Collapse of the Share prices. we have analyzed these Markets and their Related Indices in details and published them few days back which are as follow: S&P US500: DJI US30: NDX Nasdaq 100: we are very much pessimistic on their Bullish trend continuation and we believe soon they will start falling and the bullish trend will reverse to a bearish market. now post this Crisis we have 2 upcoming scenarios: 1- the Fed will Burn the flashed cash of the liquidated positions to reduce the inflation and adjust the economic outcome to have a better future on the US Market which will conclude in the Range Pricing of DXY. 2- the Fall of Market will work as an Initiation of a Fall in the DXY which will ultimately Couse the US Economy to come to the big halt, since this will result the US policy makers to start a new War in the world in order to sell their Millinery products to the Engadget countries in order to earn and receive the additional value of their exported goods in order repair the damaged economy and continue their administration. any which ways the chances of DXY to shoot for higher levels are less but not impossible. as we red the reasons for the fluctuation of the dollar index in the elementary analysis we can have a look at index makers such as EUR ad GBP Indices to Gauge the situation of DXY. we shall Post their analysis soon and will link them to this Idea. Technical Analysis: there exist a Hidden bearish Divergence of Price and MACD after the Regular Bearish Divergence which can be strongly interpreted as the Bearish trend Continuation as the regular bearish divergence has Reversed the Previous Bullish trend to a bearish trend and the Said Hidden Bearish Divergence is the sign of Bearish Market Continuation. at present the Value of the Index has Stagnated to a heavy Resistance area where it seems to be Distributing and deluding the Volumes which can be a good sign of Retracement reversal and start of the new Bearish wave and end of the current retracement cycle. there are some chances that the DXY have more Uptrend development to the 61.8% level of Fibonacci retracement but chances of breaching the Specified Resistance area are very less even if the Price reach to it Mid Levels... there are few support areas defined with Fibonacci retracement where DXY can show some Reaction on the way to the specified Targets. there are total of 2 Targets defined by Fibonacci projection of the same Bearish wave which price is currently at its golden zone. the 1 TP is very realistic to happen by end of 2024 and the second is depending on the words Peace situation.
INDEX:DXYShort
by BitonGroup