DXY / USD INDEX Technical reviewDXY / USD INDEX Technical review
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
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Usdindex!!
ANALYSIS: EURUSD SHORT POTENTIALEURUSD is back at previous lows and trendline resistance. We also have a 50% Fib
level sitting at the resistance adding confluence. IF we see USD strength continue
we can expect EURUSD to move back towards the 127.2 extension.
Be aware that it is later in the week and we could see a weekly false breakout for USD weakness
to continue. If the price doesn't close below 1.1150 look to take profit.
NZDUSD SHORT FROM 0.6700NZDUSD continues to pullback towards the key daily lows at 0.6700.
Looking at fibs we can see the weekly 61.8 fib overlays with the key resistance.
This adds weight to our resistance level and we will look for a short opportunity from this level.
We are currently long into these lows and stops have been moved to breakeven to see if we
can run up to targets before following the trend.
VIDEO ANALYSIS: WHAT NEXT FOR THE USD AHEAD OF FOMCIn this video update, we take a look at the USD and how it could perform.
With FOMC coming up we can expect the Federal Reserve to be dovish in their tone
as recent data shows a fall in inflation. This will be something that the Fed will
address in their statement, any talk of cutting rates could see the USD drop
significantly however if they keep to a moderate dovish tone we expect to see USD strength continue
to the resistance zone and 161.8 fib extension.
VIDEO ANALYSIS: NZDUSD TRADE UPDATEIn this video update, we take a look at NZDUSD as we posted a trading opportunity from the daily chart.
We took this trade due to the market finding support at the yearly low. Typically the yearly highs and lows can offer support
and resistance areas for the market react from. The NZD is benefitting off the current USD weakness and if the DXY
pushes back towards 97.70 we could see further short-term upside to this pair.
VIDEO ANALYSIS: USD TO BREAK OUT HIGHER?In this video update, we take a look at the USD Dollar Index as the price is back at the key 97.70 highs.
The Fed is currently hawkish on the recent data with the potential of a hike in 2019 still on the table.
This has helped the USD push back into the key resistance and if the price breaks the 97.70 highs we
can look for further USD long opportunities across the board. Alternatively, if this level holds we can
look for USD shorts, however, this could be unlikely as other central banks are likely to cut rates
to meet inflationary targets.
VIDEO ANALYSIS: USDCHF AT YEARLY HIGHSIn this video update, we take a look at the end of day trade we placed on our telegram channel.
USDCHF has been moving towards the yearly highs for some time now as the Swiss Franc weakens.
Typically, when a market tests a yearly high, we do see a reaction from the level, which we are anticipating
to be lower on this pair. If we do see a daily bearish close here, it will cement our bias and we can look
for further opportunities to short the market.
ANALYSIS: EURUSD TO 127.2 EXTENSIONEURUSD is currently capped by the key 1.1300 support as well as the 61.8 Fibonacci retracement.
With the USD Index struggling to get above $97.00 and could break lower, leading to upside in this market.
Look for long opportunities with targets up at the 127.2 Fib extension.
ANALYSIS: SILVER LONG OPPORTUNITYSilver has recently tested the key 14.90 demand zone. With our bias of USD short, we could see our precious metals rise.
The Daily chart is currently forming a bullish pin candle from the support, we could look to enter on a 50% retracement of the
daily candle stops below the lows and targets the key highs at 15.30.
VIDEO ANALYSIS: ANOTHER SWING OPPORTUNITY ON NZDUSDIn this video update, we take a look at NZDUSD as price looks likely to move lower in line with the US Dollar Index.
If the Dollar Index finds resistance at $97.00 we can look for long opportunities on NZDUSD. Apply this method to your
trades and you may find it helps in your decision making.
ANALYSIS: USD TO TO BREAK LOWERThe weekly chart closed bearish on the USD index and that sentiment is likely to continue with seasonality favoring shorts also.
The 4hr chart shows price working within a wedge pattern, and we expect the price to re-test the upper resistance of the pattern before
seeing further downside. We will be looking at bearish price action at $97.00 to short the USD across the major currencies, especially
GBPUSD, EURUSD and AUDUSD.
DXY Approaching Support, Prepare For A Bounce
DXY is approaching its support at 96.86(100% Fibonacci extension , horizontal swing low support, 38.2% Fibonacci retracement) where it could potentially bounce to its resistance at 97.47 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
DXY Approaching Support, Prepare For A Bounce
DXY is approaching its support at 97.03(61.8% Fibonacci extension , horizontal swing low support, 23.6% Fibonacci retracement) where it could potentially bounce to its resistance at 973.70 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks