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Usdollarlong

DXY UPDATE - Konrad $ Comp ReviewMy Dollar Combo Index has been shaping up nicely on the count of the two cycles and I am seeing other items of similar process. I believe that we either had the bottom on 8/16 with the low at 11691 or a new low will only be a minor test and slightly lower. Based on the Count the suggestion to buy the open on August 18 would still hold. Stops can be low risk at this juncture. We are we: 1) We are at Day 7. In the first count this was the absolute low, it is possible that day 6 (8/16) produced the low. 2) Divergences have materialized in both counts with the Stochastic and %R 3) The Murrey Math Osc, has gotten to the squeeze point of staying long. In the previous count prices were coming off of the low point and Day 8 produced a Buy Signal in Osc. I think here it will only be the squeeze and then a resumption of up. The Bias is to Buy on August 18 on the open of Trading. With Stops below the must recent low. This count becomes invalid on a close below the most recent low as then it would have potential to move back in to the support band. Obviously no one can predict the future and this advice is only provided as a means of a potential observation. Trade at your own risk
FX:USDOLLARLong
by KXRCapital
1
US DOLLAR INDEX - BULLISHDaily US Dollar Index - Bullish Bias. To determine whether price is trending up or down - is it making higher highs and higher lows (uptrend) or is making lower lows and lower highs (downtrend.) At the start of December, the price of the US dollar started a down trend. It made lower lows (highlighted by orange circles) and lower highs (highlighted by yellow circles.) A trend reversal happens when the price fails to create a new lower low and price rises above the previous lower high. An inverse head & shoulders pattern is a perfect example of this as price at the right shoulder failed to go below price at the head. We can also see a huge bullish candle breaking a descending inner trend line confirming a trend change for the time being. An extra confluence for my bullish bias is my moving averages have crossed to the upside (just before the trend line break) hinting price is to rise. On the weekly time frame, my moving averages are about to cross over to the upside too - another confluence. A simple A,B,C,D pattern shows us a 61.8% Fibonacci retracement at the C leg. I'm expecting price to reach 97.00 to complete the D leg and pattern. If we get a break of the neckline from the head & shoulders pattern, and a break of the weekly resistance (we've had 3 weeks where price has failed to break above it) we could see price test the outer descending trend line. If we can get a break of that, I think price may head up to 100.00 in the weeks to come. Measuring the head to the neckline and copying it to neckline breakout area. Lines up well with monthly resistance at 100.00 Just got to wait and see how it plays out!
TVC:DXYLong
by TmTRADES