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Usdollarlong

possible going upDXY had a weak week last week till the last day which saved it from sinking further. The RSI on weekly is still intact above 50 (51.3+), daily is on the way back to 49 so there' might be some good long momentum to be expected in the next day or few more. The immediate resistance is very strong, at 92.530, which is not only multiple weeks lows and highs (hence having become a very strong resistance), but also it is close to 20MA on daily chart. My expectation is that it will resume going up for a bit more time hitting on the resistance, and then going down and up but above 91.8 There's lots of US economy data releases this week, so anything can happen. Scenario 1: it rises up above 92.53, that opens the door for it rise back up again to challenge previous high of 93.2 and 93.43; Scenario 2: it going back down and revisit 91.8, 91.5 and abysmal bottom. Note: I don't trade DXY. It's my base analysis for other pairs. GL and safe trading for this week.
TVC:DXYLong
by mleader1
my last long debateI am having nasty red figures across my accounts this week, - having dropped my last week's analysis and been wrong on DXY directions since the beginning.... And it got worsened by the negative US economy data day by day This is a simple analysis based on Fibs and historical support/demand zones. If us dollar still can't find buyer at this level (91.83) it will then fall to 91.65 without doubt. And that would mean a super negative return for me this week, not good! :D ^_^ (Note: I don't trade DXY) Tomorrow's Friday, and also the last day of July, so let's see whether black magic exists... GL
TVC:DXYLong
by mleader1
analysis revisit - still going upI expected DXY to go up yesterday impatiently having discovered that it had not breached the daily 20MA in the past week, only a few hours before it got breached ruthlessly. :D But not yet convincingly broken. Today I'm watching closely on DXY again as there'll be many dances throughout the day. My personal opinion on this one is to stick with what I spot yesterday and consider it going up regardless of the FOMC statement, if it does mention anything about tapering we can expect an acceleration and thats all. I have redrawn the trend lines as above. Not necessary to explain again here. Just that - Let's trade carefully with good risk assessment, be responsible to your money and yourself.
TVC:DXYLong
by mleader1
rise back up or consolidation for several daysIt's a nice W on weekly chart, and completed a 0.5 fib retracement/correction in a day against weekly gains. I expect the DXY to go back up very quickly within this week. It may drop a bit to 92.168 again but I wish it not lower which invalidates my analysis. I also expect it to be a quiet Monday and if goes further may experience consolidation for further few days, but hopefully it jump back up above 92.407 and resume it's recovery. Note: I do not trade DXY and only review it for other tradng pairs. GL all.
TVC:DXYLong
by mleader1
ranging or going up?I use DXY only for analysing other pairs. Yesterday's impulsive rise did not break 91.905 which is high of the ranging zone, so I suspect the consolidation will continue (may be up to Thursday). It can go down if falls below 91.663 again and breach 91.500 which I doubt seriously consider the recent two failures of attacking the 91.530 area. So that leaves me to only believe dollar will go stronger in the week ahead. It's also tough for it to break 91.905 though, but if it does break, I'll have to welcome it at 92.143 and say sorry to pound and euro (I was bullish on Euro and GBP, now have to follow the trend although still believe the glory will be back in the coming weeks) Note: In the range, higher lows and lower highs have been created although not convincing, that to me is another confirmation of dollar going up, but we never know what happens till the moment when it happens :D :D
TVC:DXYLong
by mleader1
USDOLLAR aka DJGday Guys. It's Friday. Today we analyze USDOLLAR Index. The main reason we analyzing this pair, because we would like to know the current condition of USD Currency performance. We see on the USDOLLAR or DJ at the moment, it was created an Extreme Demand Zone (EDZ) on May 10 at 11655. This the starting point bullish trend slowly build-up which is we getting confirmation that EDZ was tested and rejected three times on May 18, 21 & 25 at 11659. From here we getting more confirmation of the bullish trend. Zoom in to Hourly Timeframe, We see a choppy Range EDZ at 11674 and ESZ at 11756 but clearly showing that bullish trend still in control. Currently, the price was inside of the LRZ, and the price movement creating a beautiful HiLow market structure. What we projecting here is, the price will continue bullish which is the first target will be 11723 at MRZ, the next 11742 at URZ, and the Third at 11761 ESZ. If this happens, most likely USD getting stronger and stronger. Based on recent NFP, fundamentally data release May data higher than April data. Here we able to see that the US economy is improving slowly. If the USD gets stronger what gonna happen with XAUUSD, GBPUSD, EURUSD, USDJPY, USDCHF, USDCAD, AUDUSD, NZDUSD? Let's see what happens next. Cheers * Educational and Learning purposes only. No Buy/Sell recommendation. This is not investment advice.
FX:USDOLLARLong
by EYFMarkets