SELL DXY US dollarThe US dollar index is currently a bit uncertain, whether it is a direct decline from the current position or a slight adjustment to continue to overshoot the 98.50 area, but one thing can be confirmed that the current US dollar index is trending downward
SELL DXY ENTER:97.80-98.50 The perfect ideal entry point is near 98.50
SL:99.70 TP1:95.00 TP2:93.30-94.10
Usdollarshort
USDOLLAR before 0.51% decline... The exchange rate does not follow fractal rules for the time being. Therefore I used ATR axis strategy. The white ATR axis indicates that the exchange rate movement is strengthening towards the south. And the green and brown shafts are the standard MA100 and MA200 shafts. Currently, the intersection of the MA100 mirror axis and the ATR mirror axis has stopped further dollar index appreciation. Therefore, I expect further adjustment from this level. Target price is 12336.
USDSGD forex cross pair supply and demand analysis forecastUSDSGD Forex cross pair is in a clear downtrend creating new supply levels on the way down. As supply and demand traders, we should be interested in trading very strong impulses that end up creating new supply and demand imbalances. Price action together with supply and demand technical analysis is the perfect combination.
Trading is a waiting game where we should be stacking as many odds in our favour as possible. Being impatient will end up getting you in trouble by chasing the trades and causing unnecessary losses. USDSGD cross pair forecast is clearly bearish with very strong supply levels created around 1.36 and 1.37. There is still room for price to keep on dropping further.
The US Dollar and Dollar Index DXY is getting weaker in most Forex Cross Pairs, this is helping USDSGD Forex cross pair to drop as it does creating new supply levels on the way down.
USDOLLAR before 1.4% decline... The analysis shows that the linking axis of the ATR value taken at 3 points began to decline. It can also be linked to a three-point curve. This leads to the conclusion that the exchange rate is slowly moving to a reversal and starts south. If my idea is correct, then the target price is 12171.
DXY weakness comingWell if you see my other recent trade ideas just posted (AUDUSD, EURUSD, and USDCHF) I'm expecting US Dollar weakness. There's a lot going on on my chart but I don't care it's what makes sense to me. Main focus is the major exhaustion candle formed last week. Also talks of the 4th rate hike not happening this year anymore could cause some trouble for USD. I'm only looking at shorting USD at this point. Invalidation would come into play if higher high's are made.