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Usdx

US Dollar Index short term view of Wave A.The US Dollar Index bounced off well from the initial support at 94.90/95.00 levels discussed yesterday. It is seen to trading around 95.40 levels at this point of writing and could push intraday towards 95.60/65 levels, before reversing lower again. The hourly chart could be suggesting that wave A of a larger degree is still unfolding and there could be yet another low towards 94.20 levels, which was termination of previous wave (4) as highlighted here. Also note that wave A might be unfolding into an impulse suggesting a deeper correction possible in the US Dollar Index later. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
EURUSD 1H chart confirming Wave A progress..?As the story unfolds, the EURUSD currency pair retraced lower from initial resistance at 1.1620/25 as discussed earlier. The 1H chart view is still suggesting that EURUSD bulls may still have some steam left and prices could push higher through 1.1740/50 levels, which is the termination of previous wave (4). The current short term correction could terminate around 1.1520/30 levels, before the pair could resume its last leg rally. Please note that wave A of the potential A-B-C correction discussed earlier, might be unfolding as an impulse. If this structure holds well, we could witness a corrective wave B followed by yet another impulse wave C in the coming days/weeks. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
USDX wave (A) up finishing - (B) correction soonIm not bullish, bearish, or neutral. It all depends on what the timeline is. Short term, bearish; - 5 waves up complete, - strong rejection of the bulls shown in long wicks up, - I would call strong bearish divergence on daily RSI (several peaks show declining RSI peaks while price has been rising), - A strong recent rally in USD. indicates that a correction is expected. By my count this would be a wave B of (B) for <100% retracement of wave A - I arbitrarily chose a 0.618 retrace. Medium term (couple of weeks time) bullish; - wave C (of wave (B) assumed to reach 1:1 of wave A, although it may not reach that high, - This is based on a B wave being comprised of a 5 (or 3) waves A, followed by 3 wave B, and (always) 5 wave C. This would mean 3 waves down is next on the sequence. Medium - long (after the ABC sub-move has terminated finishing wave (B) and the wave (C) commences) strongly bearish; - Wave (C) always comprises 5 wave where wave (A) also had 5 waves, - Wave (A) was quite strong and I will be interested to see if wave (C) is as strong because it will mean a significant move down. This analysis is 100% technical and includes no fundamental analysis. Let's see if it can stand on its own. I am not a FOREX trader and don't expect to become one. My trading is limited to cryptocurrency, crude, silver, and gold currently, although, I am keen to expand to other commodities. This is published for my own education.
Short
by flyinkiwi10
USDX approaching support, potential bounce! Price is approaching our first support at 94.19 (horizontal overlap support, 76.4%, 23.6% Fibonacci retracement) where price might potentially bounce and rise to our major resistance at 95.58 (horizontal swing high resistance, 100% Fibonacci extension). Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by Tickmill
2
USDX approaching resistance, potential drop!USDX is approaching our first resistance at 95.24 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 94.68 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by easyMarkets
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 95.14 (horizontal overlap resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 94.10 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
2
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 95.09 (horizontal overlap resistance, 38.2%, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 94.45 (horizontal overlap support, 50% Fibonacci retracement). RSI (34) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
2
USDX Reference for USD pairsW: Shows rejection at 95.00, 95.50. Undergo retracement. D: Closed bearish with momentum to the downside. Challenge 93.00 H4: Broke neckline. Interested to do short USD pairs if price retrace back to 94.20. TP1 at 93.40 Not recommended to enter at current closing price, 93.96. Depending on momentum of a candle stick, we can see that 94.50 neckline has been broken. The next zone where price pushed up were at 93.40, that'll be TP1. Disclaimer: Am not trading USDX. Merely using USDX as reference for USD pairs. Zones are drawn using supply and demand levels.
TVC:DXY
by SylviaC2
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 94.76 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8%, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 94.17 (horizontal swing low support, 61.8% fiboancci extension, 61.8% Fibonacci retracement). Stochastic (34,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by easyMarkets
2
USDX bounced nicely off its support, potential to rise further!USDX bounced nicely off its 1st support at 93.74 (100% Fibonacci extension, 23.6% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing low support) where price could possible fall back to before rising to its major resistance at 94.49 (61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) bounced nicely off its support at 4.7% where a corresponding rise could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYLong
by easyMarkets
GBPJPY testing major resistance, potential plunge!GBPJPY is testing major resistance at 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to major support at 147.14 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 94% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
CADJPY seeing strong bullish momentum, potential for a further rCADJPY is seeing strong support above 86.08 (Fibonacci retracement, Fibonacci extension, horizontal pullback support, bullish ichimoku cloud, ascending support) and a bounce could occur at that level pushing prices up further towards major resistance at 86.71 (Fibonacci extension, horizontal swing high resistance). Stochastic 55,5,3) is seeing strong ascending support where a corresponding bounce could occur soon. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 93.52 (horizontal pullback resistance, 38.2% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 91.80 (horizontal overlap support, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
TVC:DXYShort
by easyMarkets
USDX reacted off resistance, further potential drop! USDX reacted off our first resistance at 92.85 (horizontal swing high resistance, 76.4% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 90.96 (horizontal pullback support, 50% Fibonacci retracement). A breakout below our intermediate support at 91.93 (horizontal overlap support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) might provide the bearish acceleration to our major support level. Stochastic (89,5,3) is also reacting off our major resistance and is seeing a bearish divergence where we might see a corresponding drop in price. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
TVC:DXYShort
by easyMarkets
USDX reacting off resistance, further potential drop!Price is reacting off our first resistance at 92.54 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 91.78 (horizontal overlap support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is reacting off our major resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Tickmill
2
USDX testing resistance, potential drop! USDX is testing our first resistance at 92.54 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 91.78 (horizontal overlap support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is reacting off our major resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by easyMarkets