USD Index - Near Term Uptrend Still IntactAfter the breakout of an Inverse Head and Shoulders the USD Index hit the 93.635 area as highlighted last week. The near term uptrend is still intact meaning we are looking for further advances in the USD Index. However, price is currently at a key area of resistance (93.635) which has the ability to reverse the near term trend. As long as price stays above the 93.635 we will look to longs up towards the target of 94.63. A break below the 93.635 area of resistance would clear the way for moves back to the 92.865 / 92.565 area.
Usdindex
USD Index - Inverse Head & Shoulder BreakoutThe USD Index confirmed the breakout of the Inverse Head & Shoulder pattern last week clearing the way for further advances towards the 93.635 and 94.630 areas of resistance to the upside. A re-test of the broken resistance area of 92.565 turning support would provide a great area to look for long opportunities. Advances in the USD Index should drive USD Strength across the board next week.
USD Index. Long Term ViewAs you can see on the chart, I think we had the top on Dollar Index at 103 and we are not going back there anytime soon. The entire Daily structure looks very much like a reversal to me (maybe a Head&Shoulders). With this being said, I also think we had the daily swing bottom set couple weeks ago at the price of 91 and we are not going back below until USD Index doesn`t make a deep correction.
I expect this correction to be either a 3 wave zig-zag or a 3 wave flat. In any case, would be watching closely the 0.50 and 0.618 Fibbonaci retracement levels of the entire move (103 to 91), as I expect the price to start turning bearish in that area.
I will be updating the chart as the structure develops and starts giving hints of the next moves.
Dollar Index On The DailyToday's GDP didn't surprise the market, if any at all. Perhaps weak US data for the past few days has finally balanced itself with today's GDP report. Looking ahead towards a new month, what's in store may confirm a dollar reversal with upcoming NFP to start the month of October. Until then, it's a short all the way until "CPI" ticks back up. Cheers, and Happy Trading.
EURUSD Part 3 LONG!Its a clear signal from the part that i round!
i know a lot of people already hold long sell position from 1.1712 area from yesterday bull, this is a warning for small account that this market will go towards 1.18xxx area before the Big down or continue to 1.2, reason are pretty simple its because weaker usd are good for business and according to the previous year, its ranging and start of an up trend in longer term!, forget about 1.0x area for now if you're planning to go long.
USD INDEX "Going UP"the Price is facing a demand zone + Fib 0.618 + ABCD. I think the Index price will go up at least to 99 (see my check mark).
USD set to fall furtherThe weekly chart of my own built USD index shows signs of donwward continuation within a well-defined symetrical triangle.
usd index DXY D1 in a Gartley's PRZ coinciding with AB=CD Quoted from Scott Carney's Harmonic Trading V1: "The exact 0.618 B point requirement was just one condition in this interpretation of the
structure".
In this Gartley B retraced only 0.578 and not the required precise 0.618, but coinciding with AB=CD 0.707-1.414 and with stochastics in over sold zone and price braking at the demand zone ... let's see if those patterns are valid in the next week :)
BUY GOLD, BUY US-BONDS AND SELL DOLLARFor the time coming i am a dollar seller. I think we have seen some disappointment after this dovish hike of the Fed. This will for the coming days keep a lid on the dollar.
I will be looking to buy US 10Y Bonds and Buy Gold. Silver also looks like a solid play.
10YR US Bonds
USD Index for the Long term Investment < to 2025 Probably!long it , to the trend ,
Then short it to the B AREA
if the price goes up the red trend , and it is something really hard but everything in the market can be , so long it again to A Area
see you after 7 years :=) , or if something really big happen ,and i expect the second one ,
Update idea
USD INDEX BEARS MIGHT TAKE OVER SOONIf we break higher tonight on the FED Minutes it will probably be some kind of stop hunt above the recent high. I dont think it will be a sustainable move above 101.80, except something really major happens, that turns the sentiment on the USD completly around and makes it super bullish then look for buys above 101.80.
But right now i am not seeing this scenario unfold. So i am prefering to look for the short side of this trade.
Blessings to you all.
Potential Bearish Cypher on USD IndexPotential Bearish Cypher on USD Index(DXY)
sell @101.20
TP1 @100.24
TP2 @99.43
Cypher pattern on the USD/CADThis week's play for the USD/CAD is to short USD as the Dollar index is looking to decline even further. Until the USD Index reaches next support level at roughly 100 even handle, or perhaps upper 99 levels, this potential cypher pattern should respond with the dollar to rebound off support. The fundamental picture of the market, in my opinion anyway, is the ECB meeting on the 19th which could offer traders and investors some insight as to whether QE purchasing should begin to taper off and start raising interest rates, or should it continue which will send the EURO near parity level. In short, this is my play for the week. Good luck! And Happy Trading.
DXY Dollar Index December 2016 UP LongAnother leg down for the Index. But then, DXY Dollar Index long until December 2016. Green box is the target zone.
