DXY pullback to 103.4USD Index has shown a sell signal on the daily, it has shown a shift in market structure to the bearish on 1hr, and also performed a Break of Structure.
Currently, Price has shown a sharp rejection with a strong bullish candle which makes be believe Price is heading for the supply/resistance zone at 103.44 before the downtrend resumes.
I would advise looking out for buying opportunities up to 103.4 where I believe a rejection would kick in and Price would resume downtrend.
I would love to hear your thoughts 🤔, so feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Usdindex
DXY - Be Prepared ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
DXY has been overall bearish trading inside the falling channel in red, however it is currently approaching around the upper trendline.
Moreover, the zone 103.5 is a strong supply.
🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue supply and upper red trendline.
As per my trading style:
As DXY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
USD Index road map with US CPI to come.Today's focus: USD Index
Pattern – Ascending Triangle
Support – 95.68
Resistance – 96.32
Today, we look at the USD index as price continues to trade rangebound after fighting back from a two-day decline. Could today’s CPI data break the deadlock and give the market some direction?
Traders will be watching to see what today’s data could do for rate rise expectations. Could a move above expectations lift price above resistance and get the current trend back on track? Or could a miss to the downside confirm an LH and break the trend, setting off fresh selling? If we see the data come in flat, this could maintain the current price range that we are seeing at the moment.
Keep an eye on today’s data when it’s released at 8:30 am EST, as it could produce some volatility if the figure comes out outside of market expectations.
Have a great day and good trading.
USD Index IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
USD Index IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
DXY - Ready to skyrocket buying!This is DOLLAR INDEX (DXY) MONTHLY ANAYLSIS..
DXY Imminent Skyrocket
Price is buying from Panic Zone (0 -382%) INSIDE MONTHLY DEMAND ZONE (PREVIOUSLY SUPPLY ZONE)
We expect price BREAK 0% AREA (WEEKLY SUPPLY ZONE) and continue buying to TP1 A AND TP 2 B AREAS.
TRIGGER: WAIT PRICE BREAK 0% AREA (104.620)
When it's triggered, I suggest to open BUY POSITIONS on USD parallel pairs (USD/JPY, USD/CAD, USD/CHF)
and SELL POSITIONS on opposite (EUR/USD, GBP/USD, BTC/USD)
BULLISH INTERNAL CYCLE - WEEKLY ANALYSIS.
- TP 1 - AREA A: 50 - 61.8 % (109.719 - 110.923)
- TP 2 - AREA B: 100 % (114.819)
- FINAL DESTINATION: MONTHLY SUPPLY ZONE (RED AREA ABOVE)
USD buyers ready to test resistance again?Today's focus: USD Index
Pattern – Continuation
Possible targets – 105.60
Support – 103.40
Resistance – 104.20
Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60 and a break of that level take price out of its consolidation range and gets an uptrend going. For now, we have a short-term up trend, but buyers have more work to do to confirm it overall.
If we see a new retracement, we want to see support hold. A move back to 102.70 is a worry if you’re on the short-term bull side. With momentum back in the buyer’s court, will we see a break of resistance?
Thanks for stopping by. Good trading, and have a great day.
BTC VS USD Index Comparation Analysis USD vs BTC
Equilibrium, Art of Trend Analysis
If we always see that USD is always opposite to BTC, it can be said to be true, as there is a proven occurrence of a gap indicating a divergence between these two assets. However, it is important to understand that creating a divergence (opposite movement) requires an equilibrium phase before the occurrence of divergence. This analysis will be useful in understanding technically what will happen to crypto if a comparison is made between the USD index and BTC.
DXY 18May2023The mid-week DXY looks in accordance with the initial analysis, experiencing bullish entry into the impulse wave, if now is the period of wave C, and wave C usually consists of 5 waves, then wave 3 has at least the same length as wave 1. we can estimate the movement of the wave 3 using the Fibo Extension.
DXY DX1! (USD INDEX) DOWNTRENDWith USD News due at 5:30 AM Pacific Time for me, I expect this Minor Resistance Level (see chart annotation) to get some attention from Price Action.
Now, an uptrend retracement is likely to continue if Price Action closes above the Uptrend Anchor Break at 101.0460.
However, if price action: (1) stays below 100.9750 AND (2) closes below 100.7880 (Downtrend Anchor Break), we should anticipate the downtrend to continue.
If the DXY continues to fall, the EUR/USD will continue to rise. AND THAT'S GOOD "NEWS" FOR US!!! LOL
DXY DAILY UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
USD Index, looking to move lower? USD Index, could we have a new leg lower, kicking off traders? Yesterday we saw a third straight decline as sellers rejected an earlier move and took back control. It was a commanding move lower as we saw sellers break and close below 103.35.
This move also beat 103.48 support and set a new lower low after the trend break. This move maintains the run of lower highs and lower lows after the trend break. This can be called normal trend. Price looks to breaking the last uptrend, but we do see some potential support at 103.05 to 102.85. There’s been plenty of demand in that area, and we wonder if price can retest it will we see new demand develop from buyers?
This week’s FOMC is another big factor for the USD. Rates are expected to rise by a further 25 points, but could we see the Fed soften its stance due to the ongoing banking crisis? Inflation remains above their preferred level, so could and pullback, if seen only, be on a very short term?
If we see sellers break yesterday’s low, we will be looking for sellers to make a new test of demand, as mentioned above. Then our focus will be on the FOMC meeting from the 21st to the 22nd of this week, and the statement is a key point of interest.
Good trading.
DXY ( High Probability SELL Setup SOON )* Here we can see clearly the next moves for USD index ( DXY ),
* We can see clearly the Bearish Divergence on the RSI indicator,
* This shows us more confirmation for our U.S. indices Strop Bullish Move,
* We're using H2 time frame for a clearer view of our analysis, hence we can't predict the duration of our analysis to occur,
* Keep a close eye on U.S. indices coming days & weeks,
* Happy pip hunting traders,
* FX KILLA.
Watching divergence on USD indexUSD index has formed divergence.
Looking at the daily chart, we can see a familiar pattern forming between price and the 10 CCI. This pattern is called regular divergence, which can tell us that a possible reversal could develop.
In today’s analysis, we have run over the divergence pattern we are watching and Friday’s price action, which might give it more substance. From here, we would like to see a new move by sellers that breaks last Friday’s low, and this could confirm that sellers are in control and could look to take price back down to the moving averages.
103 could offer some resistance if reached by sellers, as it was a previous level of consolidation before the last breakout. Focus now will be on sellers and if they can back up Friday’s move with a new push lower.
The US has a bank holiday today, which could also be another factor for short-term volatility.
Good trading
DXY- Some signs of life. Bottom in place?On Monday, Dxy made a new low at 101.50 and since then the Index started to consolidate in a pretty tight range.
Slowly bulls seem to find some life and an up continuation could be next.
The short-term target for such a rise is the 103.20 zone resistance.
I'm bullish as long as 101.50 is intact
USD Index.. the death cross 09 Jan 2023The death cross is a chart pattern that indicates the transition from a bull market to a bear market. This technical indicator occurs when a security's short-term moving average (e.g., 50-day) crosses from above to below a long-term moving average (e.g., 200-day).
Nothing is 100% in trading, so you should not blindly trade this indication. Like all forex charts, this also does not mean that the USD will move down in a straight line, there will be peaks and valleys. But this chart does tell us that that the USD will continue to weaken over time. This means that our trading for the next few months should be that we hold a bearish USD bias in any pair that we trade.
Always use sound money and risk management and stay patient in all your trades.
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