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US Dollar Index

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DXY topped on the 1-year Channel Down. Strong downside potentialThe U.S. Dollar index (DXY) has been trading within a Channel Down pattern since the October 03 2023 High (13 months) and yesterday got the first red 1D candle after almost touching the pattern's top (Lower Highs trend-line) the day before. As the 1D RSI has dropped significantly after being overbought 2 weeks ago, this is a very similar top formation to the Highs of April 16 2024 and October 03 2023. As a result this is the earliest possible sell entry we can take to target long-term the new Lower Low of the Channel Down. The previous two Bearish Legs priced their Lows after roughly a -6.00% to -6.25% decline, just above the 1.1 Fibonacci extension. As a result, our Target is 99.800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DXYShort
by TradingShot
1
Shorting the Dollar: A Madman's GameI’m going to take this trade—it's close enough to the level where it would invalidate my idea. I may tighten my stops a bit, but I’m okay with taking a second shot later if I get stopped out. The Dollar is indeed strong right now, so I’m going against the trend here. I’ll be aggressively taking profits if it dips a bit. If we push past 106.75, I might consider shorting it. This price action is looking very similar to the July-September 2023 move. TVC:DXY
TVC:DXYShort
by ZelfTrade
3
How the U.S. Election Outcome Could Shape DXY's pathHey Traders! In today’s trading session, we’re closely watching the DXY for a potential buying opportunity around the 102.800 zone. Recently, DXY has been trending downward but managed to break out of that downtrend, signaling a possible shift in momentum. Right now, it’s in a corrective phase and approaching the retracement level near the 102.800 support and resistance zone. Fundamental Analysis: U.S. Election Impact on the Dollar Today’s election could significantly impact the U.S. dollar, with the outcome likely to shape future economic policies. Here’s how each candidate’s policies might influence DXY: If Trump Wins: A Trump victory is expected to strengthen the dollar. Here’s why: Higher Inflation and Interest Rates: Trump’s policies, including potential tariffs and stricter immigration, are seen as inflationary. Tariffs can increase the cost of imported goods, while reduced immigration may create labor shortages, both driving inflation higher. Federal Reserve’s Stance: Higher inflation would prompt the Fed to reconsider future rate cuts and possibly lean toward raising rates to control inflation. Higher interest rates make the dollar more attractive, as investors seek better returns. Tax Cuts and Economic Boost: Trump’s proposed tax cuts are likely to stimulate economic growth in the short term. A booming economy typically supports a stronger dollar as investors favor a robust market. In this scenario, DXY would likely respond positively, and we could see a strong upward movement. If Harris Wins: On the other hand, a Harris victory could weaken the dollar due to different policy priorities: Lower Inflation and More Fed Flexibility: Harris’s policies are expected to focus more on economic support, potentially through spending programs and fewer tariffs. Lower inflationary pressure gives the Fed more room to keep rates low or even consider cuts. Market Reaction: Investors may anticipate a slower economic rebound, favoring a weaker dollar, as demand for safe-haven assets like the dollar could decrease. Your vote is very important! Joe.
TVC:DXYLong
by JoeChampion
1
Is a DXY Pullback on the Horizon? Key Price Action Signals Is a DXY Pullback on the Horizon? Key Price Action Signals to Keep an Eye On 👀👉 The DXY Dollar Index has shown robust bullish momentum recently—but is it overextended? A pullback at a major support level could offer a valuable entry opportunity. I’m watching this zone closely for a possible buy setup aligned with the key criteria covered in the video. In this analysis, we’ll explore essential price action signals to watch and discuss strategies for positioning in the next potential move. Disclaimer: This analysis is for informational purposes only and not financial advice.* 📊✅
TVC:DXY
by tradingwithanthony
2
Bearish drop?US Dollar Index (DXY) has reacted off the pivot which aligns with the 161.8% Fibonacci extension and could drop to the 1st support which acts as a pullback support. Pivot: 105.42 1st Support: 104.65 1st Resistance: 106.13 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYShort
by ICmarkets
DXY, Is correction on the way ?Hello Traders, Hope you are doing great. for upcoming days and for a short period of time, we'll probably see a downward correction to Specified level in TVC:DXY , we also have a Divergence on 4H that confirms our theory. so with a proper trigger we can open a short position. We will also probably find better buy positions in FX:GBPUSD And FX:AUDUSD than the FX:EURUSD . Trade safe and have a great weekend. And finally tell me what do you think ? UP or DOWN ? leave your comment below this post. If this post was helpful to you, please like it and share it with your friend. THANKS.
TVC:DXYShort
by aminrzb
Is the DXY dollar index ready for a correction ? H4 08.11.2024💸 Is the DXY dollar index ready for a correction ⁉️ Looking back to 2016 when Trump first became US President, the dollar index initially reacted with a sharp rise and then a prolonged fall. I wonder if history will repeat itself again or if the market will take his second presidency more calmly in the distance. DXY formed a sellers' zone at 104.80-105.16, but the far resistance zone at 106 remains intact. It's not a sure thing that it will get there, but I keep the option in my head just in case. The priority for me is to fall from the nearest sellers' zone with the targets of 103.30 and lower to 102.30. I will specify in the process. TVC:DXY
TVC:DXYShort
by KovachTrader
DXY Will Go Lower From Resistance! Sell! Please, check our technical outlook for DXY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 105.033. Taking into consideration the structure & trend analysis, I believe that the market will reach 103.770 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
2
dxyThe U.S. Dollar Index (DXY) is a measure of the U.S. dollar's value against a weighted basket of six major foreign currencies. The euro has the largest weight at 57.6%, followed by the Japanese yen (13.6%), British pound (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%), and Swiss franc (3.6%). Created in 1973 after the Bretton Woods system's collapse, the DXY helps traders and investors track the dollar's overall strength in international markets. When the index rises, it means the dollar is strengthening against these currencies, while a falling DXY indicates dollar weakness. Many factors influence the DXY, including U.S. monetary policy, interest rates, economic indicators, and global market sentiment.
TVC:DXYLong
by HavalMamar
1