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USD Falling Wedge Break - Working Strongest Week Since Sept. 22The US Dollar has started Q4 much differently than how most of Q3 had went. I looked at the stalling in DXY multiple times last month as sellers seemingly had an open door to run with prints of fresh yearly lows. Yet - they were constantly thwarted. The USD even tried to set another fresh low to start this week, with Monday being the final day of Q3 trade but, again, bulls held price at a higher-low. That then led to a strong five-day rally that's still running after this morning's release of Non-farm Payrolls. Rate cuts are getting priced-out of the market as we now have the first rise in yoy Core PCE in more than a year, and a really strong NFP report. This has so far amounted to the strongest weekly outing in the Greenback since Sept of 2022, before the currency had topped. Notably - that turn was very much driven by the European Central Bank coming to the table with 75 bp hikes. That doesn't seem as though it's a realistic possibility at this point. - js
TVC:DXY
by FOREXcom
DXY Will Go Lower! Short! Please, check our technical outlook for DXY. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 101.874. Taking into consideration the structure & trend analysis, I believe that the market will reach 101.496 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
1
DXY Will Go Up From Support! Buy! Take a look at our analysis for DXY. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 101.327. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 101.829 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYLong
by SignalProvider
1
Dollar Index finally us a big moveThe Dollar Index finally gives us a big positive move to the upside. The chart shows us that DXY has not been direct with its direction. It has been consolidating for quite some time. But now we can finally say that DXY is looking for more buying opportunities. But failure to break the current resistance we are going to go to selling positions since we were in a downtrend. But a break above and retest we are going for more buying opportunity.
TVC:DXYLong
by AnalysisExpert
US Dollar Index Climbs to 101.00 as Powell Signals Rate CutsThe US Dollar Index (DXY) has risen close to the 101.00 level following remarks from Federal Reserve Chair Jerome Powell, who indicated that future rate cuts would be implemented gradually. This rise comes as no surprise, as the DXY has rebounded from a key demand area that was previously identified. According to the Commitment of Traders (COT) report, retail traders remain extremely bearish on the US Dollar, while institutional investors—often referred to as "smart money"—have shifted toward long positions, further supporting the currency's strength. This bullish sentiment in the US Dollar is reinforced by the fundamental backdrop. Today, the release of the ISM Manufacturing PMI and JOLTS Job Openings reports could further fuel the DXY’s upward momentum. A positive outcome from these key economic indicators would indicate continued resilience in the US economy, bolstering expectations for the Fed to maintain its gradual approach to rate adjustments, which in turn supports the USD. The ISM Manufacturing PMI is a key gauge of the health of the manufacturing sector, and a strong reading would reflect ongoing economic expansion, likely pushing the DXY higher. Similarly, the JOLTS Job Openings data provides insights into labor market strength, and a robust figure would further cement the case for a stronger US Dollar. Technically, the DXY’s recovery from the demand area, combined with the shift in institutional positioning, points to a sustained bullish outlook for the US Dollar. With smart money moving to the long side and retailers still bearish, the DXY could continue its climb, especially if today's economic data aligns with market expectations. In conclusion, the US Dollar Index is experiencing a bullish run following Powell’s comments on gradual rate cuts, and the momentum is likely to be reinforced by positive ISM Manufacturing PMI and JOLTS Job Openings data. As retail traders remain bearish and institutional investors shift toward the long side, the DXY could see further gains in the near term, particularly if economic data supports the Fed’s cautious but optimistic outlook.
TVC:DXYLong
by FOREXN1
7
DXY Sell this Oct-Nov dead-cat-bounce and target 97.000.Last time we looked into a such a long-term (multi-year) time-frame on the U.S. Dollar Index (DXY) was 10 months ago (December 15 2023, see chart below) where we gave the most optimal buy entry at the time: We now take it to the 1M time-frame where the long-term trend gets more clear and the pattern as you can see is a Channel Up since the March 2008 bottom (U.S. Housing Crisis). The most recent Higher High was back in September 2022 and since then the index has been on a decline in an attempt to form the bottom on the Higher Lows trend-line of the Channel Up. As you can see, we are in the later stages of this (multi-year) Bearish Leg but last month (September) it hit its 1M MA50 (blue trend-line) for the first time since January 2022 and held it. This is expected to delay the Lower Low for a while but most likely won't invalidate it as if it closes a 1M candle below it, we expect to test the bottom by Q2 2025. Both the Bearish and Bullish Phases seem to be consistent within this 16-year Channel Up, having a fair degree of symmetry. The Bearish Phases have previously come in the form of successive Channel Down patterns (dashed), so if this analogy continues to hold this time also, we should be half-way through the second currently. All those Channel Down patterns dropped to at least the 1.236 Fibonacci extension from the first pull-back they had. This consistency is remarkable. Such pattern suggests that after the current rebound is completed (technically it shouldn't exceed the 1W MA50 (red trend-line), the price could decline to 96.000. Our Target is a bit higher at 97.000, which would make an ideal Higher Low on this 16-year old Channel Up. After that, the confirmation to buy (which naturally will tell us that the bottom is already in) would be a 1M MACD Bullish Cross below the 0.0 mark. As you see, this took place 5 times these 16 years, all of which have been excellent buy entries with the lowest risk possible. ------------------------------------------------------------------------------- ** 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:DXY
by TradingShot
3