USDX Chart H1Here is my view for USDX on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Usdx
Elliott Wave Sequence Suggests GBPUSD Favors HigherGBPUSD ended 5 wave impulse Elliott Wave sequence as wave 1 of (C) at 1.2525 high on 4/04/2023 started from 3/08/2023 low. It already confirmed higher high sequence against September-2022 low, calling for further upside to continue in wave (C). It placed ((i)) of 1 at 1.2204 high & ((ii)) at 1.2009 low. ((ii)) was 0.5 Fibonacci retracement of ((i)). It ended ((iii)) at 1.2423 high & ((iv)) at 1.2273 low. ((iv)) was typical 0.382 Fibonacci retracement of ((iii)). Finally, it ended ((v)) at 1.2525 high as wave 1. Below there, it ended wave 2 at 1.2345 low in 7 swings correction. Currently, it favors higher in 3 of (C).
Above wave 2 low, it placed (i) at 1.2456 high & (ii) at 1.2397 low as 0.5 Fibonacci retracement in 3 swing sequence. Currently, it favors higher in (iii) of ((i)) of 3. It placed i at 1.2484 high, ii at 1.2452 low, iii at 1.2538 high & iv as triangle at 1.2516 low. Above there, it favors higher in v of (iii) & expects small upside before starts correcting in (iv) in ((i)) soon. It expects short term upside in ((i)) of 3 before starts correcting in ((ii)) later in 3, 7 or 11 swings against 4/10/2023 low. The pair should remain supported in correction at extreme areas to resume higher in bullish sequence.
USDX bottomed?By Neo Wave in this downtrend i count a "Xwave" happened already, there can be only one more and looks a triangle to me, do not know the size of it but if in the few weeks ahead this start consolidating and not falling under the previous bottom we can assume Dollar has bottomed and ready to be strong again.
DXY (US Dollar) Elliott Wave Sequence Favors LowerDXY (US Dollar) Showing 5 swings impulse Elliott wave sequence lower from the 3/08/2023 high, which ended at $101.415 low on 4/05/2023. Above there, it favors a corrective bounce in 3, 7 or 11 swings before downside resumes. DXY proposed ended (B) at $105.883 high on 3/08/2023. Below there, it placed ((i)) at $103.484 low & ((ii)) at $105.103 high. ((ii)) was 0.618 Fibonacci retracement of first leg. It placed ((iii)) at $101.915 low on 3/23/2023. It bounced off in ((iv)), which ended at $103.357 high on 3/24/2023. Finally, it ended ((v)) as diagonal sequence at $101.415 low on 4/05/2023 to finish wave 1. Above there, it favors a corrective bounce in wave 2, which should fail below (B) high to resume lower as the part of (C) leg, which confirms below February low.
Above wave 1 low, it placed (a) at $102.052 high & (b) at $101.755 low. It favors higher in (c) of ((w)) of wave 2. It placed i at $102.297 high, ii at $101.988 low & iii at $102.807 high. Below there, it favors pullback in iv before final leg higher in v to finish (c) as ((w)) within extreme areas. It may even ended ((w)) leg & correcting lower in ((x)) leg to retest the low before turning higher in wave ((y)) as the part of 2. Wave 2 bounce should fail in 7 or 11 swings from extreme areas in bearish sequence to resumes downside later in wave 3 of (C), which confirms below $101.415 low.
BIG BREAKDOWN USDXGOOD NEWS for stock holders and the reason for the pump in gold usdx has just taken a big dive down from the major breakout levels so there should not be any more panic for stocks for now till usdx is trading below the former breakout levels and now the big resistance will update on down targets later
Elliott Wave Projects GBPUSD Pullback Continue to Find Support$GBPUSD broke above previous peak on 1.23.2023 high at 1.2448 and now shows a bullish sequence from 9.26.2022 low. Cycle from 3.8.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 3.8.2023 low, wave (i) ended at 1.2204 and pullback in wave (ii) ended at 1.2009. Pair extends higher in wave (iii) towards 1.2344, and dips in wave (iv) ended at 1.2189. Final leg higher wave (v) ended at 1.2423 which completed wave ((i)).
Wave ((ii)) pullback ended at 1.2271 as the 1 hour chart below shows with internal subdivision as a zigzag. Down from wave ((i)), wave (a) ended at 1.2352, wave (b) ended at 1.2397 and wave (c) lower ended at 1.2271. Pair has resumed higher in wave ((iii)) towards 1.2525 as an impulse. Up from wave ((ii)), wave (i) ended at 1.2426 and wave (ii) ended at 1.2394. Wave (iii) ended at 1.2521, pullback in wave (iv) ended at 1.2465, and final leg wave (v) ended at 1.2525 which completed wave ((iii)). Pullback in wave ((iv)) is in progress as a double three structure. Down from wave ((iii)), wave (w) ended at 1.243 and wave (x) ended at 1.2479. Expect wave (y) to extend lower to 1.233 – 1.2386 blue box area where buyers should appear for further upside.
DXY D1 UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
Don't Sell Dollar(USDX) in the Short & Medium TermAs we shown on the daily chart, we expect 1(one) wave ((5)) movement in the next months to around 118. So the biggest odds are higher. If Dollar(USDX) breaks the last low wave ((4)), a double correction will take place. In this moment, the Right Side of H1 and H4 is turning up. We need more data to see a clear definition in USDX next movements.
USDXUSDX, DXY is in a correction, at the support zone 101.10, a potential rebound is expected.
Wait to buy the red zone, target 102.25, 103.40 and 104.36. >> GooD Luck 😊
USDX Idea H4Here is my view for USDX on H4. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Technically, DXY remains bearish.. However…Some big shot baby boomers won’t be able to accept this fact and let it happen. Then in the end, we will see an epic crash in stock markets.
I am expecting the DXY to skyrocket after the FOMC meeting.
DXY 4 HOUR UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
at major resistance 104.4 if usdx starts trading above it next stop and fast move till 105.93 is expected which will be pain for gold and equity
US Dollar Index: Piercing Line Bullish Reversal on the DailyThe DXY on the 1 Day has set itself up a Piercing Line Reversal pattern while on the 2 day it has settled at the 200 SMA while showing Bullish Divergence on the MACD. If this plays out, it could go for an ABCD move upwards between the .618 and .786 Retraces. This could especially be a good time to enter AUDUSD shorts.
USDX USDx may retrace to the area of 109 Or before retracing there anytime it can break the short term trend towards 100.
DXY coming week hey everyone
dxy is breaking the resistance around 104-105
20ma crossing 50ma - could test 200ma
its a starting of uptrend price
rsi/macd showing bullish divergences
with all the usd new coming this week chances are USD price can rise
for weekly chart the price target is 119-120
good luck
the reason why gold silver and stocks are falling and its likely to continue for now as the usdx strengthens it is a negative for gold stocks and silver so the pain has just begun and going pain more at the top of usdx
not going to be easy for equites and gold from here onusdx has made a sharp bottom in my opinion it has completed an impulse move and now a corrective move in a down trend it can go up to the retracement levels marked on the chart however it has to be remembered that this is a corrective move only not a start of an uptrend or any impulse move so have to plan accordingly 101.5 on the downside is a key level until it trades above that level the move is only on the upside on every dips
USDXUSDX is in an uptrend. If the price remains above the level of 103.29, it is possible that it will test the resistance of 105.15 in this zone if it fails to break through. In the short term there is a chance that the price will fall. Wait to sell the red zone, the first target is 103.294 >> GooD Luck 😊
DXY on the moveLets see if this is a false break or true break. I am expecting a short term bullish for DXY.
DOLLAR RETRACE TO 103+ ON FOMC & NFP VOLATILITY ?COT:
Dollar has weakened significantly since mid NOV-22
Driven by institutional selling of long contracts since begin Q4-22
Assisted by accumulation of short contracts sinds JAN-23
Outlook for Q1-23 remains sideways to down
Next downside level is 99.60
FOMC & NFP:
Before another drop below 100 big figure a retrace is likely
103+ will likely be mitigated in FEB
103 = mitigation level = GAP resistance = sell VWAP
Begin FEB is pivotal week(s) with FOMC & NFP
FOMC and/or NFP volatility will likely facilitate the retrace
OUTLOOK:
Will be monitoring price behaviour between 103.00 - 103.25
Looking for change of behaviour on the lower timeframe (wicks into mitigation-level)
Anticipating a swing lower from 103+ to 100- after mitigation
This will offer buy setups in the MAJORS, with a preference for commodity CCY's
XAUUSD vs USDX
XAUUSD Bullish on the weekly chart, still above 10 and 15 day EMA as well as 50 day SMA. Good distance between 10 and 15 day EMA.
XAUUSD Neutral on the daily chart 10 day and 15 day EMA have touched one another, but haven't crossed. XAUUSD remains above the 50 day SMA
XAUUSD Bearish on the 4 hour chart 10 and 15 day EMA have crossed with 15 day EMA now above the 10 day EMA and gap is still wide between the 2 lines. Far below 50 day SMA.
10 day EMA = Blue Line
15 day EMA = Red Line
50 day SMA = Orange Line
