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US Dollar Index

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USDX- SELL strategy 3-D chartthe best way to look at charts, is using the USDX chart to look at the overall expectation of expected movement of the market. Looking at current election state, and the overall viewpoint (or rather the probability of winner) Trump seems to be the likely based expected outcome judging the probabilities. This is not to say, what really will happen, and surprises are always there. The USDX is for me a kind of mirror reflecting the potential outcome, and if we look at some analysts, when Republicans win, the USD weakens, and if Democrats, the opposite should be the case. Currently, we have an overbought USDX and anywhere between 104.50 -105.00 a SELL is likely the best strategy. I feel we will test 103.40 area and we may see 102.25 as a low in the coming weeks. Strategy SELL @ 104.40-104.80 and take profit first @ 103.45 and if broken, SELL below 103.10 and take profit 102.20. I feel TRUMP is the winner, hence a lower USD is likely the case.
PEPPERSTONE:USDXShort
by peterbokma
2
DXY Will Fall! Sell! Take a look at our analysis for DXY. Time Frame: 3h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 103.924. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 103.688 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:DXYShort
by SignalProvider
2
Pre NFP Trade Analysis1st November DXY: Stronger NFP, DXY bounce off 103.80 to trade up to 104.60. If 103.80 broken, could trade down to 103.45 NZDUSD: Sell 0.5925 SL 20 TP 60 (DXY Strength) AUDUSD: Sell 0.6545 SL 25 TP 60 (DXY Strength) GBPUSD: Sell 1.28 SL 40 TP 120 (DXY Strength) EURUSD: Buy 1.0905 SL 25 TP 100 Hesitation at 1.0950 (DXY Weakness) USDJPY: Sell 151.40 SL 40 TP 200 Hesitation at 150.55 (DXY Weakness) USDCHF: Buy 0.8710 SL 20 TP 40 (DXY Strength) USDCAD: Sell 1.3915 SL 15 TP 30 (DXY Weakness) Gold: Needs to stay below 2760, break 2740 could trade down to 2708
TVC:DXY
by JinDao_Tai
2
DOLLAR INDEX (DXY): Bearish Decline from Key Resistance LevelI'm impressed with how the 📉 Dollar Index reacted to a key horizontal resistance level on the 4-hour chart. Following this test, the index moved into a consolidation phase, forming a horizontal range. The breakdown below this range's support level has provided a clear bearish signal. Now, we're observing a favorable retest of the broken structure, suggesting a likely continuation of the downward move. The target is set at 103.55.
TVC:DXYLong
by NovaFX23
2
DOLLAR INDEX(DXY): Bearish Move From Key LevelI am impressed by the way the 📉Dollar Index responded to a significant horizontal resistance level on the 4-hour chart. After the test, the pair entered a period of consolidation and established a horizontal range. The breakout below the support of this range indicated a strong bearish signal. Currently, we are witnessing a favorable retest of the broken structure and can expect a continued decrease in price. The target is set at 103.55.
TVC:DXYShort
by linofx1
1
US Dollar Trends:Navigating the Supply Area and Market SentimentAs the trading week began on Monday, the US Dollar (DXY) found itself testing a significant supply area, leading to a period of consolidation within a tight range. This move comes on the heels of disappointing Durable Goods orders data, which has sparked bearish sentiment among traders, prompting a downward shift in the Greenback's value. The Impact of Economic Data The recent Durable Goods orders report fell short of expectations, raising concerns about the resilience of the US economy. Such data often serves as a barometer for economic health, influencing traders' decisions and market dynamics. With this disappointing figure, traders have been quick to react, driving the dollar lower as they reassess their positions. Analyzing Market Sentiment The latest Commitment of Traders (COT) report reveals a telling shift in market sentiment. Retail traders appear to be holding long positions on the dollar, while institutional investors—often referred to as "smart money"—are beginning to accumulate bearish positions. This divergence in sentiment raises an essential question: is there an impending reversal in the dollar's trend? Timing the Market Timing becomes crucial in a market characterized by conflicting signals. While the COT report indicates a potential shift, it’s essential to identify the right entry points. Many analysts believe the DXY could experience another bullish impulse before any significant decline materializes. This potential upward movement may serve to "trap" sellers who have positioned themselves in anticipation of a downturn. Seasonal Patterns and Technical Analysis Adding to the complexity of this scenario is the emergence of a seasonal bearish pattern indicated by forecasters. Seasonal trends often play a critical role in currency movements, and traders must remain vigilant to these patterns when planning their strategies. In conjunction with this seasonal insight, technical analysis reveals a rectangle pattern on the chart, which suggests a defined range of support and resistance levels. Traders are advised to look for entry opportunities within this range, where the likelihood of a price breakout is heightened. Conclusion In conclusion, as the US Dollar navigates this crucial supply area amidst mixed signals from market participants, traders must approach their strategies with caution. Monitoring economic indicators, understanding market sentiment shifts, and analyzing technical patterns will be pivotal in making informed trading decisions. The current environment presents both challenges and opportunities, and identifying the right entry point could be the key to capitalizing on potential market movements. As we move forward, it will be interesting to see how these dynamics play out. What are your thoughts on the current market conditions, and where do you see the DXY heading next?
TVC:DXY
by FOREXN1
1
DXY (USDOLLAR) - Correction Wave Pending US Dollar is nearing completing Wave 1 and should go in correction for Wave 2 before loading a big Wave 3. Overall bias is Bullish due to many macro factors. This should provide a clarity on how other pairs will behave. For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management. If you found this analysis helpful, please consider boosting and following for more updates. Disclaimer: This content is for educational purposes only and should not be considered financial advice.
TVC:DXYLong
by MarketsPOV
The Impact of Emerging Markets on the Dollar amidst Looming TradThe recent shift in US political landscape has ignited a wave of uncertainty across global markets. A potential escalation of trade tensions with China and other key economies could have far-reaching consequences, particularly for the US dollar and emerging market currencies. The Dollar's Uncertain Future The US dollar, long considered a safe-haven asset, faces a crossroads. While a more protectionist stance could initially bolster the dollar's appeal, it could also trigger a chain reaction of economic consequences. Increased tariffs and trade barriers could lead to higher inflation, which could erode the dollar's purchasing power. Moreover, if the US economy weakens as a result of trade disputes, the dollar's demand as a safe-haven currency could diminish. Emerging Markets in the Crossfire Emerging market economies, which have often relied on exports to fuel their growth, are particularly vulnerable to escalating trade tensions. A trade war could disrupt global supply chains, increase the cost of imported goods, and reduce demand for emerging market exports. This could lead to currency devaluation, higher inflation, and slower economic growth. Currency Pegs Under Pressure Countries that peg their currencies to the US dollar, such as Hong Kong and some Middle Eastern nations, could face significant challenges. If the dollar weakens or strengthens significantly, it could put pressure on these currency pegs, forcing central banks to intervene to maintain the exchange rate. This could deplete foreign exchange reserves and limit monetary policy flexibility. The Renminbi's Rising Influence China's renminbi could emerge as a potential beneficiary of a weakened US dollar. As China continues to expand its economic influence and promote the internationalization of its currency, it could become a more attractive alternative to the dollar for global trade and investment. However, a trade war with the US could also negatively impact the renminbi, as it could lead to reduced demand for Chinese exports and capital flight. Navigating the Uncharted Waters To mitigate the risks associated with a potential trade war, emerging market economies may need to adopt a combination of strategies. These could include diversifying export markets, promoting domestic consumption, and strengthening financial institutions. Additionally, central banks may need to adjust monetary policy to stabilize currencies and manage inflation. In conclusion, the potential for increased trade tensions between the US and China could have significant implications for the global economy, the US dollar, and emerging market currencies. While the full impact of these developments remains uncertain, it is clear that businesses, investors, and policymakers around the world will need to closely monitor the situation and adapt their strategies accordingly.
TVC:DXY
by bryandowningqln