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Usddollar

NZDUSD - Top Down Analysis (ICT)Quite interesting chart on NZDUSD. I give my analysis and opinion on what is likely to transpire next. Let's see what happens today (Friday) as I'm expecting the weekly to close below certain levels if I am correct in price coming for the SSL first. However, it may not happen today as there is no high impact news offering a catalyst for a manipulative move lower. We could see a weak close lower and then more aggressive action on PPI and CPI next week. Again, this is under the assumption that my bias of price wanting to go for the SSL first is correct. - R2F
Short
by Road_2_Funded
2
USDCHF Pattern FormationThis price has been forming a falling flag for the past few weeks which IMO it is a strong indicator of a long bullish momentum. As for the now, the price seems to be at major market zone, at 0.883 - 0.885, hence we are waiting for; 1. If the price breaks out and closes above 0.886, the bullish momentum might continue. 2. If the price fails to break out of that zone, it will continue with the bearish momentum and completing the pattern where the target is 0.857
Short
by Vapari_Inc
USD/CAD Nears Three-Month Low as US Dollar Bears Take ControlUSD/CAD Nears Three-Month Low as US Dollar Bears Take Control The USD/CAD pair is facing sustained selling pressure for the third consecutive day, reaching a near three-month low during the early European session. Trading around the 1.3385 area, down 0.15% for the day, the pair appears vulnerable to further downside as the US Dollar (USD) succumbs to bearish sentiment. As of the current moment, the price hovers around 1.3375, indicating a potential for additional bearish momentum. The USD Index (DXY), which gauges the Greenback against a basket of currencies, has plunged to a level not seen in over four months following the Federal Reserve's (Fed) recent dovish pivot. The central bank's announcement on Wednesday marked the conclusion of its monetary policy tightening cycle and outlined plans for at least three 25 basis points rate cuts in 2024. Coupled with the prevailing risk-on sentiment evident in the global equity markets, the US Dollar is facing intensified selling pressure, weighing on the USD/CAD pair. In this scenario, the outlook suggests a potential continuation of bearish momentum for the USD/CAD pair. Traders will be closely monitoring key support levels and market dynamics for insights into the pair's future trajectory. Our preference Short positions below 1.3450 with targets at 1.3330 & 1.3300 in extension.
Short
by FOREXN1
1
EUR/USD: Awaited FOMC Decision Sparks Mild Negative BiasEUR/USD: Awaited FOMC Decision Sparks Mild Negative Bias EUR/USD is currently trading with a slight negative bias on Wednesday, influenced by a modest uptick in USD strength. The currency pair's downside, however, is cushioned as market participants eagerly await the crucial Federal Open Market Committee (FOMC) policy decision. The focus will subsequently shift to the European Central Bank (ECB) monetary policy meeting scheduled for Thursday. FOMC Policy Decision Anticipation: Traders are on standby for the outcome of the highly-anticipated two-day FOMC policy meeting, with the decision expected later during the US session. The consensus is for the Fed to maintain the status quo, a stance universally anticipated by market participants. Recent economic indicators, including a robust monthly jobs report and consumer inflation figures, have led traders to scale back expectations for an early policy easing by the Fed. This, coupled with positioning adjustments ahead of the central bank event, supports the USD and exerts downward pressure on the EUR/USD pair. Technical Analysis and Bearish Situation: From a technical perspective, the EUR/USD remains in a bearish situation. Despite a brief attempt to reverse direction following the CPI data, the currency pair faced resistance, failing to sustain the pullback. In the H4 timeframe, the price is positioned below the 50 SMA, indicating a range-bound situation. Today's FOMC decision is anticipated to provide clarity and potentially trigger a directional move. Our analysis leans towards a strong USD, expecting a USD/JPY rally that could influence all USD pairs for a bullish impulse. As traders await the FOMC decision, the EUR/USD exhibits a mild negative bias amid a moderately stronger USD. The technical analysis points to a bearish scenario, with the 50 SMA acting as a crucial resistance level. The FOMC decision is poised to set the tone for the currency pair's near-term direction, with the potential for a USD rally influencing market dynamics. Traders should remain vigilant and adapt their strategies based on the outcome of the central bank events. Our preference Short positions below 1.08300 with targets at 1.0750 & 1.0730 in extension.
Short
by FOREXN1
1
US Dollar Gains Traction: Technical Analysis Points to PotentialUS Dollar Gains Traction: Technical Analysis Points to Potential Bullish Impulse The US Dollar (USD) is showing signs of recovery, hovering around the 103.30 level, with US yields rebounding from Friday's dip. The focus shifts to the upcoming Factory Orders report in the US economic calendar. Despite a recent bearish performance, the USD has regained buying interest, bouncing back from the 103.07 area tested earlier during Monday's Asian trading hours. Ongoing speculation surrounds the Federal Reserve's potential interest rate reductions in the spring of 2024, with varying opinions among certain Fed policymaking members. Key Points to Consider Regarding the USD: Consolidative Phase: The index appears consolidative in the low-103.00s, finding stability after hitting three-week lows near 102.40 last week. Broader Picture: The dollar seems under pressure due to growing speculation of interest rate cuts in H1 2024, responding to disinflationary pressures and a gradual labor market cooldown. Support for the Greenback: Despite challenges, the USD receives some support from the resilience of the US economy and a persistent hawkish narrative from select Fed rate setters. Technical Analysis: In the H4 timeframe, the price initiated a retracement after reaching the 102.50 area. This retracement may deepen, targeting a retest of resistance at 104.215 or potentially surpassing it to reach the next level of interest at 105.000. Notably, the USD remains in a bearish momentum, and in the D1 timeframe, the price touched the 61.8% Fibonacci level. Our Forecast: Our analysis points to a potential bullish impulse, with a target set at 104.215. Traders are advised to monitor the technical indicators and market developments for informed decision-making. Alternative Scenario:
TVC:DXY
by FOREXN1
1
My Thoughts on the EUR/USDHere are some of the notes I had put down since 2020. I am wondering how long the EUR/USD can hold above the 1.05 lvl . The Federal Reserve is on a path to keep hiking, in hopes of combating inflation and winning on that front. The ECB is stuck between a rock and a hard place as inflation is still extremely high and the economy is barely above water. I think price is going to at least hit 1.05. I am a little skeptical about price hitting the parity level again, at least in the first two quarters, but in the future I think the EUR/USD will like break below the parity level again. Jan 10, 2020 -Focus EUR, GBP, NZD, CHF, ECAD, ZAR, maybe CAD -EUR Likely to push higher during first month or two because price will likely move with GBP, USD experiencing with Manufacturing, US/China Phase One Deal take a few months to show signs of improvement -I will focus on when the EUR drops -thinking price will push to 1.13, then turn around, especially if there is a war with Iran/Iran conducting terrorist activities -if price pushes to the 1.14, my focus with this pair will dissipate and I won't be trading this pair -If price pushes above 1.15, holds for a few days, and doesn't push back below 1.1450 and stay there, then the trend is broken on the down side, price will likely push higher, to around 1.18/1.20 by end of year, if this happened before or during June May 21, 2020 -thinking EUR will push lower -monthly chart pattern showing price may push higher pretty significantly, but fundamentals/market sentiment posting says otherwise -doubt that the ECB will want EUR to appreciate -to push higher, virus would need to subside greatly or a great deal of confidence in a cure/vaccine -EU countries would need to recover Jan 10, 2021 -PT EUR 1.40, CAD 1.20/1.15, GBP 1.50, JPY (want to stay in for as long as I can, price likely to drop to 102), AUD 0.80/then to 0.70, NZD 0.75 then to 0.60, CHF 0.80, ECAD 1.45, ZAR 9.20 -Some prices likely to take more then a year to him my targets. Prices that might hit this year are CAD, AUD, NZD. CHF may hit 0.80 this year, JPY 102 may be broken -No current strong plan Mar 14. 2021 -target 1.40 -monthly chart showing double bottom almost complete, within a monthly inverse H/S -Will price pull below 1.16, I don't see it as stimulus might be the new norm this year -If inflation starts raising considerably/US economy recovers quick, then price will likely push lower, past 1.16 to 1.15 -I think though price will push higher this year, maybe hitting 1.30 Jun 06, 2021 -US economy is open up slowly -ECB is still holding onto the PEPP and has not distributed yet -ECB still looking to be dovish -Price likely to range and whipsaw -FED and ECB not diverging like in 2014 Jun 28, 2021 -price is trading near 1.19 and may break lower because of divergence between FED/ECB -price target 1.15 Oct 13, 2021 -I think price is going to push lower because of the FED and ECB divergence -price having trouble pushing above the 1.20 lvl -the 1.05 or at least the 1.08 might be hit faster than I think -shorts are becoming stronger and stronger -price might drop to 1.08 by Feb 2022 -I doubt 1.20 will be hit because if price breaks below the 1.15 and hits 1.13, the 1.15 will be hard to break -if price is able to stay below 1.15 before Nov, price will likely hit 1.10 Dec 31, 2021 -Said I would only focus on: CAD, JPY (PT 120), ECAD (below 1.40), ZAR, GCHF -No current strong plan Feb 12, 2022 -I am going to stay out of no matter how price is moving -Reason, ECB hinting at being hawkish -only use as a hedge May 07, 2022 -price having trouble pushing lower -I think price may hit parity as sentiment surrounding USD extremely strong, ECB having hard time balancing Russia/Ukraine conflict with its economy and inflation -hints of ECB raising rates in 3rd/4th QTR this is what is going to start price recovering -price may be able to hit 1.10/1.15 if the ECB becomes very hawkish -staying out of the pair for the year Jun 10, 2022 -EUR is a risk currency and could push lower if recession worries increase -majority of central banks raising rates quickly, slow down inevitable -not concerned with this pair and going to stay out for now Aug 07, 2022 -stuck between raising rates and fighting off a recession -in short term I think price will push higher, but won't last for long -if interest rates increase, borrowing costs will increase, ECB has tool to fight this, but will still cause inflation Oct 16, 2022 -I think EUR is going to push lower, but in the short term higher -price on monthly chart is bouncing/testing support of monthly descending wedge, coupled with ECB likely to raise rates, might push the EUR higher -other hand, price could break lower as EZ heads into winter, Russia cutting Oil taps, causing supply crunches Nov 20, 2022 -I think the EUR and GCAD are going to push lower Dec 07, 2022 -working on getting into building my portfolio -looking at building in the EUR, GCHF, GCAD -EUR might push near the 1.10 -EUR going to experience some pain similar to UK, -manufacturing/industrials showing some growth -build into GCAD first then EUR, then Silver Dec 11, 2022 -descending wedge holding -if continues to push higher, might be able to hit 1.10, possibly around 1.12/1.14 (testing resistance of descending wedge) -price also forming an inverse H/S, if correct, price may B/O and push to the 1.22 before breaking lower -EZ close to being in a recession or in a recession already -double digit inflation, could cause ECB to raise rates quickly -ECB looking to possibly stop or reduce asset purchases which could push price higher -wages also increasing along with housing prices -Manufacturing/Industrial growth low -I think EUR will push up initially because ECB will have to raise rates quickly, and FED and ECB might eventually diverge
Short
by DollarSaenz
1
The US dollar as a sheep in wolf's clothingThe printed money supply in the world is currently fed into the systems, consequence high inflation. Supply chains are healing but this might take some months until we're back in the game. Since the FED has no interest in sending the global economy into chaos, interest rate hikes will come to light again in the coming months and even interest rate cuts from 2023. Dollar is king but the revolution is right around the corner. This is just an idea, note that this is not a recommendatin to invest or to trade with US dollars.
TVC:DXYShort
by Lobotto
EUR/USD will take longer to have a Retracement. SHORT The EUR/USD will take longer to have a pullback, yesterday the price close with a Bullish candle, this last one is an Inside bar, decisive will be the reaction of the market today or tomorrow. Looking at the main trend, the price is still in a strong Downtrend, and the price after a Pullback on the previous 50% Fibo level dropped dramatically over the EVEN with the Dollar. Stochastic and RSI are both in Bearish mode and all the clues are for a continuation of this tendency.
Short
by FOREXN1
9