DXY: Will we attend fresh highs?Hey traders, in today's trading session we are monitoring DXY for a buying opportunity around 106.000 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
Usdindex!!
DXY AnalysisHey traders, in this week we are monitoring DXY for a buying opportunity around 105.7 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
can be uptrendI think USD INDEX as long as the trend line is not broken, it can be bullish and reach the 110 ranges.
DXY Potential Short Soon!Happy Tuesday Traders, Investors & Gamblers 😃
Today I want to talk about the U.S. Dollar Index . As mentioned in a previous post a couple of weeks ago, DXY is currently at a very strong resistance in a 15 year trend visible on the monthly chart here.
1D U.S. Dollar Index (DXY)
4H U.S. Dollar Index (DXY)
Here below I left it all in the charts for you, the key resistance levels and the support levels that are important to confirm a downtrend.
1D U.S. Dollar Index (DXY)
4H U.S. Dollar Index (DXY)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
DXY forms a butterfly pattern.According to technical analysis, DXY is running in a major butterfly pattern and will plummet back to 105 area
DXYDXY 8H chart shows some early signs of a potential change in direction, we witnessed the price go imbalanced and shoot higher, before losing steam, and presenting these wicks, I think we can look to short it back to the 200 day average. However the oppurtunities lie more in other currencies and commodities, I will attach below of EURUSD which has the possibility of a large swing to the upside.
UPDATE: MEDIUM TERM OUTLOOK ON THE DOLLARWhat's up trading world! Hope you have been well & taking care of yourself in these uncertain economic times! I am back with another DOLLAR INDEX update, now I did say I would update at the end of June however, with 1st July being a Friday, I wanted to observe how the market plays out so I could give a move comprehensive update!
UPDATE:
1. Bearing my previous post in mind, we saw the dollar shoot upwards and this was due to the biggest interest rate hike by the Fed since 1994. Monkeypox cases have also remained small in number which has only boosted the dollar even more.
2. As a result of the above, we saw pattern ABC play out in June (see previous post) where point 'B' illustrated opportunities for optimal buy-entries and these signals were shared with my private community and we were able to have a lovely 1:4 risk-reward trade (+420pips) that smashed through relevant targets!
MOVING FORWARD:
1. The dollar doesn't plan on slowing down anytime soon, we will definitely be expecting a rate hike again in July, it is the only way to crumb the inflation and do a hard reset on the debt the US has accumulated.
2. Barring covid & monkeypox cases remaining below 10K per/day, the dollar will continue to soar as commodities continue their much-needed reset.
3. Unemployment (NFP) numbers coming this week will also be a key indicator and although we expect it to be higher than last month, should there be a drop, I don't believe the drop will be extensive enough to stop the dollar's rally.
Technical analysis:
1. For optimal BUY-entry opportunities moving forward, wait for pattern ABC to play out, with point-B signalling entry point for buy-trades however, given the strength of the dollar, it might not even retest our daily support but rather continue going up due to strong fundamentals & key institutional traders trade-positions that are pushing the market right now.
2. Whether there is a RETEST or not of our daily-support zone, should the above 'moving forward' conditions happen, expect the DOLLAR index to make its way to $108, a price level it hasn't reached in almost 20 years!!
Thanks for reading! Let's take advantage of the markets together! These are generational wealth times that we are living in, don't let them pass you by! :))
USD Dollar forming double top?#usddollar, 15th Key reversal bar, next Insurance bar indication for short dollar. 105.55-60 resistance level for previous fall. High probability to hold this support to form double top. price may go rise up a little to catch stop losses of short traders. Target is 103.00.
dxydxy usddollar i think it will rest for a very short time and came into range mode then fall to the downer zones
I anticipate US dollar index to loose strength in the days aheadI anticipate US dollar index to loose strength in the coming days. The index has declined so much since May 12 breaking below the 5 May low. From then the index began to correct in a bearish wedge formation which suggest that the bearish momentum is more likely to resume soon. I will keep an eye to the wedge if it gets violated to the bottom I will consider going short with target at the April low around 100.00 key level.
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EURUSD Potential UpsideEURUSD has broken the previous lower high to confirm the push to the upside. Buy the pullback on which price action will confirm the move to the upside. Trade with care and Goodluck.
Please like and follow for more accurate trade ideas.
GBP/USD vs. DXY: Long Correlation TradeDXY vs. GBP/USD Long Correlation Trade:
DXY shows bearish price action:
> bearish trendline break
> First lower high + lower low
> Muliple-MA break
> Head-n-Shoulder Formation
GBP/USD demonstrates a high negative correlation with DXY . To keep the spread tight, I would suggest going long GBP/USD , instead of short DXY .
DXY pullback overdue, wall street bank chatter confirms this.
Trading plan and review of Key Levels for major marketsReview of the key levels in the major markets as the US continues to edge lower.
US share market staged a late rally to fend off the bears which has led to a strong Asian market open as traders go bargain hunting. The general trend remains down with the USD, Inflation and Interest Rate Rises in focus.
BITCOIN and ETHEREUM took a beating as BTC spiked below $30k to take out some stops. Crypto enthusiasts will be hoping to see BTC back above the $30K area to fend off more selling pressure.
Markets covered
US - DOW, Nasdaq and SP500
Europe - DAX and FTSE100
Asia - Hang Seng, ASX200 and Nikkei
FX - Dollar Index (USD), EURUSD , GBPUSD , AUDUSD and USDJPY
Commodities - GOLD , Oil and Copper
Crypto - Bitcoin and Ethereum
DXY reached its peakDXY has been in continuous upward trend for weeks now, to me it looks like the price has reached its peak for time being, hopefully SPX and BTC will be able to see some upward movement in upcoming days if this is correct.
USD INDEX(DXY)USD index likely bto fall to the zone around 102.603 or a little below it with respect to the fibonacci pattern 50>>70% which aligns perfectly with the zones and chart as seen respected 50% and so our next target is 70% whichb is a zonne and also has liquidity to be taken out
Will DXY break above very important resistance?(long term view)Since 2015, USD Index is trading in two ranges: one between 92 and 100, and the large range boundaries, between 90 and 104.
After a strong and clear break in mid-April of 100 resistance, DXY has accelerated its gains and now is trading exactly under 104 resistance.
If you also look at the daily chart you can see that a small triangle is forming under this resistance, giving us the idea that a break up is imminent.
I expect another 10% rise for DXY to around 115 and only if the index falls back under 100 I will change my very strong bullish outlook for the Dollar
DXY LONGS AND HAWKISH FOMCHey traders, in the coming week we are monitoring DXY for a buying opportunity around 103.1 zone, in the 4 of May we are coming across the FOMC event where we expect USD to gain strength and remains bullish prior to that.
we highly recommend taking a look at DXY in the beginning of every trading week if not everyday, that will help you to spot the direction of USD pairs and trade them more professionally.
trade safe, Joe.
DXY: Bull Market is Approaching an Important Resistance Level The recent US interest rate hike and an “unexpected” dovish statement given by the ECB during the EU interest rate decision this month provided further bullish momentum for the DXY . However, no key levels are actually broken at the moment and DXY is still moving well within the yearly channel between the level of 89~90 and 102.50~104. DXY is currently approaching the yearly resistance level of 104.00. This is a key level to watch as it is the high back in 2017.
For buy opportunities, we are waiting for some kind of a pullback first before entering buy positions. Also, a clear breakout of 104 level would also give us the green light to capture pullback at 104 level, but this is a risky buy setup as we do not want to get our positions stucked if a period of correction occurs.
For sell opportunities, we are not currently looking for any sell entries because there are simply no bearish patterns being formed. We will consider sell entries once the market creates a lower low first. But we cannot foresee that yet in the near future.
nzdusd in strong supportcurrently i am bearish on usd index and i will looking to short usd . we are in strong demand area and i will buy nzdusd after breaking the first zone
The flight of bitcoin will begin soonThe flight of bitcoin will begin soon when the dollar hits its historical resistance line.
USDMXN potential upsideUSDMXN has broken the double bottom neckline and looking to make new highs to the upside. It is only a Buy when price action does not break the previous low and bounces off the flip zone to the upside. Trade with care & good luck.
AUDUSD continuation to the downsideAUDUSD is ahead and looks to be making a lower low to continue the downward movement to the downside, we will be adding more positions to this trade as we have no risk anymore to this trade. It is advisable to wait for a retest of the new resistance that is formed from the new low. Trade with care & Goodluck.
