USD INDEX OUTLOOKWith weaker nfp number expected. Strengths of dollar would decrease. Very tight SL and Very conservative TP. TRADE WITH CAUTION. THIS IS ONLY A POSSIBILTY AND IS FOR EDUCATIONAL PURPOSE ONLY. NO RISK TAKEN
Usdindex
USD $Down trend correction is not done yet. DXY should correct till 97 then up trend continuation. 100>>97-96.5>>above 103
USD INDEXImpact prior / during FOMC news
Price may bounce in between 100.75 and 99.25 with a possible retest at 100.00 before a possible further downtrend.
However, if a rejection were to fail, then a possible further downtrend downwards below the 98.00 price zone level.
As of 30/4 is the last day before the closing month, a clear bearish closure below 100 key level may push down-ward to 95 and below.
DXY Short4h
We see the dollar index in a downward trend, in terms of the wave, we see a double correction, which is likely to last until near the price of 97.
This week includes important and influential news
GDP report
FOMC Statement
Unemployment hog
ISM’s manufacturing PMI
We would like to add that American companies, including Apple Amazon McDonald's S&P, are set to present their quarterly reports, which could have a significant impact on the country's gross domestic product.
Corona reports, as usual, have their effects on price
Pivot: 97.98
With the failure of this area, we will be the seller until 98.5
If the price fails in this area, buyers will enter the field and increase the price to 100.8 as last week.
DXYThe dollar index is likely to be in an incentive structure given the new wave, which is nearing the end of the sequence and declining to the microwave shape, but from a fundamental point of view, the US economy is still affected by reports of the coronavirus. .
in this week
April 23 Unemployment reports and PMI reports will be the only major dollar reports
DXY Bearish Possible Scenario Hello Everyone !
Here we Have DXY ( USD Index ), Forming an ABC Pattern, Point B ( 78.6 % Fibonacci Retracement ), is the place where we would like to see DXY going in order so we can see the final reaction of the market around there for getting a better Entry in a short Position, until then we stay Patient and Observe.
Stay Home & Trade Safe !
Let me know your Opinions below for This One !
Usd index- where to- monthly outlookFrom the 2008 bottom, Usd Index has been trading mostly up and now is trading just under strong resistance that lies at 103-104 zone.
Considering the global concerns and Usd safe haven status I expect this resistance to give up and to have a dollar strength dominated year.
In the long run (one-one and a half year) a 20% increase in Usd value is not out of the question and we can see the index touching its all-time high at 120.
USD on the runThere have been 2 great weeks for the Us Dollar, with the index rising about 7 percent.
After the index touched the 95 zone 2 weeks ago, the index reversed aggressively and put on a big bullish engulfing from this support.
This week the index passed and closed over 100 psychological resistance and is trading at 101.95.
I expect this bull run to continue in the weeks to come and I will look to buy Usd weakness in all its pairs.
DXY Elliott Wave View: Pullback An Opportunity For BullsShort term Elliott Wave view in DXY suggests that the rally from March 09, 2020 low is unfolding as an Elliott wave impulse structure. And shows a higher high sequence in higher time frame charts favoring more upside. While the initial rally to $98.81 high ended wave (1) in lesser degree 5 wave structure. Down from there, wave (2) pullback ended at $97.45 low. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at $97.64 low. Wave B bounce ended at $98.38 high and wave C ended at $97.45 low.
Up from there, the index rallied higher in another 5 waves impulse structure within wave (3). Whereas wave 1 ended at $98.44 high, wave 2 ended at $97.95, wave 3 ended in another lesser degree 5 waves at $102.37 high. Wave 4 ended at $101.54 and wave 5 ended at $102.99 high. Below from there, the index is doing a short term pullback against March 16, 2020 low ($97.45) in 3 or 7 swings before last push higher in wave (5) within the rally from March 09, 2020, can be seen. Afterward, the index is expected to do a pullback against March 09, 2020, low & should provide an opportunity to buy the index again in 3 or 7 swings. Near-term, as far as the pivot from $97.45 low stays intact expect the index to extend higher. We don’t like selling it.
Usd Index- change of trend?100 proved to be strong resistance for Usd Index and the "basket" put in a nice "evening star"candles formation visible on the weekly chart. Now the index is sitting just above support and a break here could accelerate losses towards 93.50 and 92.30.
Considering the fact that the losses are made from usdjpy depreciation and eurusd gains a break will also effect lagging pairs like AudUsd and especially NzdUsd
POTENTIAL PLAY ON EURUSD- waiting for a push to break the downtrend trendline
- waiting for retest
- then waiting for price action confirmation before entering long
patience is a virtue
Trading Plan sell analysis on USD index
ENTRY: 98.60+-
TP: 98.40
TP2: 98.20
TP3: 98.00
SL: 98.85
Chart time frame - 4H
Time for reaching TP - 1-2D
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USD INDEX Is Setting Up for Potential DeclineThe decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend.
Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag and has fulfilled the requirement.
Confluence that the price is also sitting at a resistance zone and approaching 78.6 Fib, a bearish reversal is imminent.
While the 99.66 invalidation level remains intact, watch out for bearish price action signal from the resistance zone. The breach of the Flag channel or blue horizontal line will confirm the bearish setup.
What's your view on Dollar?
DXY Watch for sellHi traders,
Keep your eyes on 5 min time frame for price actions before taking the sell.
#DXY VS #DTWEXM [1WC] Will DXY fallow and FALL?!INDEX:DXY
FRED:DTWEXM
Here is an interesting difference between #DXY "The Typical most used USD Index" and #DTWEXM "The Trade Weighted USD Index" that is believed to be more accurate than DXY.
The 2 pairs have been identically moving together but now we experience an initiative fall on DTWEXM to break the channel.
Is this telling us something about the future DXY move?
USDCAD – Buyers at very good positionWelcome to our Academy. We’re here to help you achieve what you have been looking for.
Use our free analysis where you have everything you need for potencial trade ideas and profit.
USDCAD – Buyers at very good position
Trend: Buy/ Neutral
Support/Resistance:
R3: 1.32490
R2: 1.31750
R1: 1.31150
S1: 1.30471
S2: 1.30000
S3: 1.29500
Price action:
In this case we can see potencial buyers bounce, which can be used as a one more fact to go bullish on usdcad currency pair. Because Elite bullish trading idea is still on bearish side we have to be carefull and play on sellers fails that might happen later in this case. USDCAD currency pair have potencial buy if the price will bounce from first support level at 1.30630. Plus more usd currency is at strong momentum from overall usd index.
Potencial trade idea:
Bulls targets:
T1: 1.31150
T2: 1.31750
T3: 1.32490
Bears targets:
T1: 1.30000
NOTE – We are trading USDCAD via the preferred trading setups by EliteFxAcademy
Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education
Good trading!
Elitefxacademy
Dollar Index, continuation of the down move As mentioned before, it's in the process of making a correction under the line, we expect the down move if ONLY it breaks the line to the upside and makes a flag the idea will change, but so far everything suggests the continuation of the down move.
For now, we have to wait for the correction.
Trade with care and stay green.
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