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USDOLLAR trade ideas

USDOLLAR Crash?USD is about to reach its worst state in 2020 earlier this year.. Now price is at a key support area, if support not holding, we can see USD crash to the next low. My bias is that USD will continue to go down to the previous low. Buyers are buying DXY to show rejection but betting on something with live economy contradicting the market is just gambling. With the current state in US, I'm short bias. *Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
FX:USDOLLAR
by bullstoyourbears
USDOLLAR SHORTSupport level did not hold resulting in a breakout for the USD, USD weakening, we are usually looking to LONG ***USD pairs and SHORT USD*** pairs. *Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
FX:USDOLLARShort
by bullstoyourbears
USDOLLAR LONGWe can potentially see an upside for the dollar as it made a new high, and retested trendline. Currently, I am biased towards buying the dollar hoping it to reach previous support resistance, before coming back down for a trendline retest. I will not be excited for longing it now. What I really want to see is a retracement after resistance to the trendline and take a long position as it offers a higher probability with a good risk-reward ratio. However, this is in the daily timeframe, any chances to the market condition may cause my analysis to be inaccurate. This perfect setup can be easily voided if news/economy does not go as planned so please take it with a pinch of salt, this trade can be invalid any point of time. *Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
FX:USDOLLARLong
by bullstoyourbears
USDOLLAR Rallies In Longer-Term DowntrendThe above charts show FXCM's USD index - the USDOLLAR. The left chart shows the daily time frame. It is evident that the current trend remains down, until proven otherwise. 1. Price is below the cloud. 2. The cloud remains light pink in colour. 3. Price is below the black base line. 4. The black base line is trending down. 5. The orange lagging span is comfortably below price. The right chart shows the H1 ichimoku of the USDOLLAR. The index has pulled back in the shorter term. 1. Price is approaching pink cloud resistance. 2. Price is above the black base line. 3. The black base line continues to move downwards. 4. The orange lagging span is at price. The pullback is largely driven by fear creeping back into the market following comments by White House health advisor Dr Anthony Fauci noting that some US states are seeing a “disturbing surge” in coronavirus infections. Cases have increased by 5% or more in 26 states and hospitalisations are rising too. To this end, we are closely watching the H1 ichimoku for any bearishness, which will realign the short-term chart with the daily. If this does not happen, the prospect of economic disarray cannot be ignored as the possibility and impact of a second wave is considered by market participants. Past performance is not an indicator of future results CHART SOURCE: FXCM MARKETSCOPE 2.0
FX:USDOLLARShort
by FXCM
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