US Dollar Index- Reverse Head and ShouldersUS Dollar Index- Reverse Head and Shoulders pattern confirmed.
Usdollarlong
USDOLLAR index 1-2-3 Trend reveral complete! Initially prevailing Downtrend - Yellow line.
1- Downtrend is disrupted.
2- Temporary new dip is made (either higher, equal, or lower than prior immediate bottom).
3- Old previous high of 2 is taken out.
If all 3 points are taken out, this is a 1-2-3 trend reversal.
For further information:
thepatternsite.com
AUDUSD SHORT ForecastAUDUSD SHORT!!! AU is still looking bearish. I will be waiting for my key areas to get hit on the lower time frames before entering. Lets see what London Price action gives us!!! Follow us for more forecasts!
EURUSD sell 2min forecast much watch!!EURUSD is starting to look bearish, . I will be waiting for Price action to develop a bit more before I look at executing a high probability trade. Follow us more forecasts and trade setups.
GBPUSD Forecast upcoming weekGBPUSD upcoming forecast. I will be waiting for PA to develop Monday and Tuesday to see if we can get a potential setup. Give us a follow and a like as I will be posting more of my trades and potential set ups.
EURUSD BUY Having used a line chart to identify daily supply and demand areas, price is retracing to the highlighted area before continuing general upward movement
USDMXN TRENDIt is possible to expect some strength on USDMXN, a potential retest to the descending resistance of the daily channel.
USDCAD COUNTER TREND TRADE LONGUSDCAD has for the long term been on a bearish decline, however price has struggled more recently to break below an area of support, rejecting this area on two prior occasions. Based on the close of Fridays candle we can see that price seems to be rejecting this area for the third time. Having broke back above an intraday level of resistance on the 1 hour, I would now like price to retest this area and continue upwards to my area of major resistance, although there are some obstacles in the way for price to get through.
USDJPY LONG to 104.500After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken resistance at 103.655. I will create a buy limit order on market open to go long with targets at major resistance 104.500.
US DOLLAR INDEX OUTLOOK FOR 2021dxy still can drop another leg in short term trades , but i don't think it will continue to much lower levels in 2021.
when the equity markets goes for correction (up %40 can be expected) , DXY can spike up over 100 again.
DXY to rise All the other pairs going against USD will be dropping as the mother predator rise.
COUNTERTREND
DXY BULLISH COUNTThe U.S. Dollar index DXY seems to have completed the fourth corrective wave at 50% of the Fibonacci retracement level.
The U.S. Dollar could be expected to gain strength in the next few months.
Watch the USDOLLAR and USD currency pairs this week!Hope you all had a good weekend. Recently, the USDOLLAR has been getting hammered recently skewing all i's currency pairings and in my humble opinion defying what would be normal good entry and exit points from a day trading perspective. Well, I think it might be about to have a change of direction, making me reenter the market with some reversal trades this week which favor the USDOLLAR. If you throw some strong fundamental news in along with this chart i think we can see a nice uptick this week, ending a miserable few months for the USDOLLAR. The confirmation of the US approving Pfizer's vaccine for the COVID-19 virus is excellent news and should come in to play in the USD currency pairings.
You can see from my chart, we are approaching a historic DEMAND zone which also forms as a really strong support level for the USDOLLAR. I see a nice bounce off support giving us a +2.5% return to the SUPPLY zone, also a strong resistance and AREA OF VALUE.
AUDUSD - Short
EURUSD - Short
GBPUSD - Short
USDCHF - Long
Good luck all
DXY (Daily) LONG; "King Dollar" is back in the office!(Until now it was just checking it's emails - remotely :-) Buy it up!
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.
US DOLLAR INDEX (DXY) - BULLISHQuite an interesting setup on DXY, the chart shows a complete triangle formation which may be a running triangle (with a declining top and rising bottom) - continues the trend.
As long as the constraints of wave (E) remain valid, I expect the dollar to continue gaining strength as indicated by the arrow.
USDOLLAR / DXY : Trapped sellersShorts are trapped in a uptrend in USDOLLAR/DXY. They would have a desire to exit when price comes back to them
