USDX trade ideas
The Weekend: Prepping to Trade & Travel w/AIRAIn preparation for a trip to show my daughter more of Thailand, I've switched to a fully mobile setup. I’m running everything with just two laptops and a monitor for each, getting my mind ready for this new workflow. I’m excited for this change because our usual work routine felt like it was limiting her experiences at such a crucial time in her life. This upcoming week is a big one, but nothing is more important than her growth and development. So, I hope you enjoy this test video. Rest assured, What's Flowing videos will keep flowing, and my algorithms will stay busy spread trading across various markets.
DXY, Elliott wave analysisOutlook for DXY on 3D chart.
The market remains volatile.
I think It is forming the Triple three WXYXZ.
If this scenario is correct, we are in sub-wave (z) of the upper degree wave b.
Corrective waves will continue for a while.
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.
USDX: Trend in 4H time frameThe color levels are very accurate levels of support and resistance in different time frames, and we have to wait for their reaction in these areas.
So, Please pay special attention to the very accurate trend, colored levels, and you must know that SETUP is very sensitive.
BEST,
MT
DXY_1DAnalysis of the US dollar index
The index is in an upward trend.
The important number of this week is 104,200, which determines the path to continue climbing or falling as wave 4.
The trend of the index is still upward and our main target in wave 5 is 106.600.
After break of channal Dollar index is consolidatingAfter break of channal Dollar index is consolidating. It may retest support before forming any trend
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.
Dollar DXY - Bullish ContinuationDollar Index / DXY Analysis :
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Fridays NFP event dropped price and finished this week with signs of reversal to the upside.
Following price action we see a nice 4Hour Break Of Structure, indicating buying pressure.
This following week we will look for any retracements (Higher Low) to come back into our impulsive NFP candle (point of interest) and look for confirmations to take it higher and close above previous high.
End of Dollar, CBDC vs BTC 2030 >>>> NWO is Coming...With the fight by the NWO for the two blocks (both controlled by the evil one), there will be the loss of the dollar hegemony, this starts in 2023, therefore another agenda of the same occult elite (deep state) will start to rise, which in this case is Bitcoin, CBDC's are coming, duality always, CBDC vs BTC.
BTC in 2023 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
dxy looks to make a wedge completion The DXY market price approaches a critical wedge pattern completion, indicating potential breakout or reversal zones. Concurrently, gold demand strengthens, potentially positioning it to benefit from any downside movement in the DXY
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!
DXY: Market Is Looking Up! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 104.033
Wish you good luck in trading to you all!
Uptrend It is expected that after the pullback to the support range, the upward trend will continue. Otherwise, by crossing the support range, the downward trend will be likely
dollar indexit can increase another 40% or a bit higher
then there will be another flat formation to the downside
this may complete the WXY correction pattern
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
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.
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.
DXY: Local Correction Ahead! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 103.869
Wish you good luck in trading to you all!
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?
31.10.24 Morning ForecastPairs on Watch -
FX:EURUSD
FX:NZDUSD
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
USDX-SELL strategy 3-DAILY CHARTThe index seems overdone and showing potential for a decline towards 101.00 area in the short- to medium-term. Elections are the key of courser.
Strategy SELL @ 104.10 - 104.50 and take profit @ 101.67 for now. SL based on your own risk appetite.
