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
Usdollarlong
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
Are the Dollar Bulls Back?The US dollar has retraced slightly since its breakout over the past few trading days. It has made a run for the upper 93 handle, but still can't quite seem to break 93.83, the level we are eyeing to break this range held for weeks. In fact, it has seemed to reject these levels, and retraced back to the low 93 handle, where it is currently finding support. This is a significant level. If it breaks, we can anticipate more retracement, perhaps even to the lows established earlier this month. If it catches steam, as we anticipate, it could make a run for 93.83 again.
$DYX (american dollar) LOOKING FOR A BOUNCE ~ higher time frame Reason I'm making a technical analysis on this chart:
#1: If this turns into support, $BTC will crash as $DXY goes upwards in price. (opposite correlation)
#2: I'm currently short $BTC, so looking for a bounce with $DXY.
Expecting a bullish correction on Dollar Index DXYExpecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely correlated.
Dollar Index forecast and prediction
Long positions will be possible on the way up to weekly supply imbalance located around 97 price level for those forex traders trading short-term and intraday forex trading strategies. There is a lot of room for the Dollar Index to keep on rallying. There is nothing to prevent the Dollar Index from the bullish correction if it continues to make higher highs.
USDOLLAR : Go long against trapped sellersThere are a bunch of trapped sellers below previous month low and current month low - who would love to exit when price comes back to them - giving us a long entry.
Look to trade each zone with a 2R risk:reward ratio.
DXY, US Dollar Should BUY soonI am expecting a corrective move son to the upside to form the wave 4 of the bearish impulse movement before the resumption of the down trend.
Target is any point on the trend line and maximum is the low of wave 1.
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Thanks
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.
