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USDX trade ideas

Near-term Bullish DXY Bias Monthly chart for DXY hints a possible distribution zone formation. As there is a bullish candlestick pattern formed at last month, bullish bias seems to be the higher possible trend for now. Weekly Bullish trend channel formation suggest higher upside is likely, however, last bar doji candlestick pattern suggest indecision. Near-term support and resistance at 100.25 and 106.50. Last Friday bullish bar closes back near Monday's opening reinforced near term bullish bias. Looking forward, next week 5 Nov being US presidential elections day will add volatility to the market. So, price may likely to go the next higher order block area.
INDEX:DXYLong
by savvyacademy
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
Potential bullish bounce?US Dollar Index (DXY) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as a pullback resistance. Pivot: 103.82 1st Support: 103.44 1st Resistance: 104.57 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:DXYLong
by ICmarkets
1