USD index Approaching Resistance, Prepare For A Reversal
USD index is approaching its resistance at 7.055(61.8% Fibonacci extension, horizontal swing high resistance) where it is expected to reverse down to its support at 7.006(61.8% Fibonacci extension, horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
Usdindex
VIDEO ANALYSIS: USDCHF SHORT UPDATEIn this video update, we take a look at USDCHF as we are anticipating the market to fall further.
The CoT signal remains and we could see further buying of Swiss Francs. USDCHF has retraced to the
61.8 Fib and rejected. This could offer us a short opportunity to the key demand zone.
USD index near key resistance, potential drop!
USD index is approaching its resistance at 7.020(61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing high resistance) where it is expected to reverse down to its support at 6.973(61.8% Fibonacci extension *2, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
VIDEO ANALYSIS: USD BREAK OUT PENDINGIn this video update, we take a look at the USD INDEX in order to understand the current situation.
We feel that the USD is holding up at the moment due to the risk-off sentiment in the market.
Technically the price remains in a consolidation pattern and if we see price take out $97.00
we could expect a larger sell-off.
USD index Approaching Resistance, Prepare For A Reversal
USD index is approaching its resistance at 7.016(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 6.973(61.8% Fibonacci extension *2, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
ANALYSIS: CAN THE USD INDEX BREAK LAST WEEKS LOWIt will be important for the USD INDEX to break last weeks low if we are to continue
to look for USD weakness. The majority of the major currency pairs look to be at
support suggesting USD weakness could be in play. If we don't see a close below
we would need to wait for added confirmation.
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 .
Good luck >>
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.