DXY/ US Dollar analysis as we can see price couldn't break resistance, meaning that look for any dollar pairs like AUDUSD to potentially go short on.
Usdollarforecast
US DOLLAR (dxy) to rise to 95.00 region I am expecting a double zigzag wave combo instead of a simple ABC correction before we see the sell trend.
I am expecting a buy to 0.5900 regions.
Has Us dollar(dxy) strength Resumed?We are currently analyzing a possible inverted head and shoulder which shows a reversal chart pattern that the previous downtrend might has ended and the the former uptrend may resume.
We expect a retracement to the neckline and a candlestick confirmation to trigger the buy order. Target is as shown on the chart and the ideal stop loss should be set below the right shoulder.
DXY At Trend Line Supportprice holding support let's see how this hold
the more bullish we see in DXY the more dump in the gold and bitcoin
Dollar has More room to the upsideThe triangle preceded the 5th Wave. After the end of the wave 5 , the rapid correction in the opposite direction began.
Next week we expect more upside, after correction in to the potential reversal region marked on the chart
US Dollar Showing Signs of Bullish StrengthThe US Dollar approaching the neckline of a potential double bottom formation. Previous daily candle closed bullish, giving a sign that there's still bullish momentum in this market. This market has greater potential to Retest previous structure lows before deciding whether it will reverse or break the level by the end of this week. Will be closely monitoring price action if price reaches this zone.
US Dollar to make a comeback this week?US dollar took a hard fall this past week, now its found a level of support and has the potential to go on a bullish run to Retest the previously broken structure low. As long as price does not break the previous LL, buys counter trend buys are still valid.
USDOLLAR Bullish insightThe USDOLLAR can find strength this week as the bearish move has been over-extended now. If we see the 4H creating Bullish Structure, that will push the Buyers in and we can see a domino effect on all the above time frames like the Daily and the Weekly.
US DOLLAR IdeaBig broadening wedge forming
Hopefully the recent drops acts as a double bottom and pushes price back up into the wedge
The recent touch of the fib transition line suggests the action through it will be bOOlish
USD Index (DXY):Multi TF shows destination 92 routed via 98.80 The multi-timeframe analysis for DXY shows the short term bounce towards 98.80 before heading lower towards 92.
Following is the step by step break down of the analysis from higher to lower TF's:
MONTHLY:
(1) Bearish due to bounce from the long term down trendline acting as resistance.
(2) The bearish divergence comes in play between the leg 3 & leg 5 of the impulsive push-up.
(3) Followed by a lower low breaking through the structural horizontal support.
(4) Bounced higher towards the falling trend line and gets rejected, thus forming a hidden bearish divergence to continue lower.
The above-mentioned facts make the probability of pushing it towards the confluence of support zone from 92.85 - 91.33
The confluence of support is derived from the multi-year rising trendline + Horizontal support & resistance structure + Fibo Extn. 61.8 at 92.11
WEEKLY + DAILY: Are under upward correction
8 HOURLY: Bounced up from the channel support after reaching 100% Fibo Extn. around 95.80
1 HOURLY:
(1) The first push-up is completed along with bearish divergence.
(2) Now it's retracing to re-test the projected up trendline (RED), from where it may bounce-up to create the second leg towards channel's high.
(3) Once, it reaches the upper boundary of the channel + horizontal resistance around 98.80, it may resume the downwards journey towards the 92-93 area.
TRADE IDEAS:
Short term- Buy the retraces until it reaches 98.80
Long-term- Selling it, once gets rejected from the channel's boundary along with a break of the rising trendline + re-test validation of the resistance.
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
US Dollar Birds Eye View - Wave Revision - Correction ContinuesStill long term bullish on the US Dollar, just had to adjust my wave count to suit advancements in analysis.
The expanded correction in Green Wave 2 should finish off with a deep retracement in Red Wave E.
As always I will be tracking these fiat currency markets and keeping you updated.
Please LIKE and FOLLOW to get notification of updates and future posts.
dxy/ us dollar indexhere my view on dxy, if you bought at the bottom when we posted last week, take profit at the entry for the down side and sell check chart for more details
pls like & comment if you wish to see more accurate set up like this
Stay inspired !
Ali Dib
US Dollar Index Targets Below 94.65 As Wave 3 UnfoldsUS Dollar Index had dropped between 103.00 and 98.29 subdividing into 5 waves, hence labelled as Wave 1. The subsequent rally was corrective and found resistance around fibonacci 50% retracement (100.93), potential Wave 2. Sine then, Wave 3 could be underway towards 94.65 and lower. A drop below 98.90 would confirm the above. Alternately, Wave 2 could be still unfolding and might test fibonacci 0.618 retracement at 101.20, before terminating. Either ways US Dollar Index remain bearish as long as prices stay below 103.00 resistance.
Strategy:
Short against 103.00, targeting 94.65
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USDOLLAR Ascending inverse scallopAscending inverse scallop, looks like the short term drop has already begun, looking for bullish continuation.
Dollar Index- what's next?Following FOMC yesterday, DXY has broken the trend line channel support and now is trading at 97.15 which coincides with horizontal support.
We believe that we assist to a chance of trend and we can expect the index to fall to the next support at 96.00
DXY - 18/11/19Quick Update on the DXY, we're seeing this downtrending trendline, price has been respecting. I'm looking for a loss of strength in the USD over this week based on technicals. HOWEVER, we have a lot of high impact news regarding the US Dollar this week therefore I would trade with caution. Be strict with risk management on USD pairs.
If the dollar does in fact lose strength, USDXXX pairs will sell and XXXUSD pairs will buy.
The dollar is relatively strong as of right now. But price is on a solid downtrend.
DXY - 8/9/19My forecast for the dollar since last week. Looking for price to head down to that trendline, based on technical analysis, we have the channel, resistance at the point it sold from. We have had strong sell momentum since last week and based on all the bearish news, I expect it to drop further.
USDJPY formed bullish shark | A good long opportunityAfter successful formation of bullish Shark pattern the price line of US Dollar / Japanese Forex pair Yen has formed another bullish shark pattern.
Even though the price action has hit the sell zone upto 0.382 fibonacci but all indicators are still turning bullish therefore I am expecting more profit.
MACD is turning bullish
Stochastic is oversold and has given bull cross
Volume profile is showing less interest of traders at this area.
I have used Fibonacci sequence to set the targets:
Buy between: 105.502 to 103.691
Sell between: 107.035 to 110.572
Regards,
Atif Akbar (moon333)
