US DOLLAR TASharing a us dollar chart here
if we lose 100$ and test it as resistance the next target would be the bottom of the range ( 89 dollars)
USDX trade ideas
DXY Pair : DXY Index
Description :
Resistance Level
Completed " 12345 " Impulsive Waves
Break of Structure
RSI - Divergence
Double Bottom Pattern as an Corrective Pattern in Short Time Frame
DXY NEXT WEEK VIEW
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
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Watch Out For DOLLAR Reversals I expect the dollar to complete its correction by month's end so prepare for reversals on pairs correlating with it. (GBPUSD, EURUSD & XAUUSD)
Weekly Technical Analysis for Major Currency Pairs, Commodities,Weekly Technical Analysis for Major Currency Pairs, Commodities, and Indices for the Period from September 23 to September 27, 2024
Introduction :
Greetings, this is Mohamed Qais Abdulghani, financial markets expert, presenting the weekly technical analysis for the most important currency pairs, commodities, and indices for the current week. In this analysis, we will review the key global economic events that will impact the financial markets, followed by a comprehensive technical analysis of the major currency pairs, commodities, and indices.
Major Economic Events for the Week:
• Monday, September 23:
The Purchasing Managers’ Index (PMI) for both the manufacturing and services sectors will be released. The forecast indicates continued growth in the U.S. manufacturing and services sectors, signaling that the Federal Reserve has succeeded in controlling inflation. If the results are significantly stronger than expected, it could support the U.S. dollar and increase correctional pressures on gold. However, if the data is weaker than expected, gold prices may rise due to economic concerns.
• Tuesday, September 24:
The Consumer Confidence Index will be released, which is a crucial indicator of consumer confidence in the U.S. economy. Higher confidence could strengthen the dollar and press down on gold prices, while negative data may drive demand for gold as a safe haven due to growing fears of recession.
• Wednesday, September 25:
The New Home Sales report and Crude Oil Inventory report will be released. If new home sales improve, it may support the dollar and negatively affect gold. On the other hand, a sudden increase in oil inventories could put pressure on oil prices.
• Thursday, September 26:
The Gross Domestic Product (GDP) report and Unemployment Claims report will be released. If the data shows stronger-than-expected growth, it may boost the dollar and pressure gold. An increase in jobless claims could weaken the dollar.
• Friday, September 27:
The Core Personal Consumption Expenditures (PCE) Price Index, a key indicator for the Federal Reserve, will be released. If the index shows a decline in inflation, it may boost gold prices due to a weakening dollar.
Technical Analysis:
Currency Pairs:
U.S. Dollar Index (DXY):
The U.S. Dollar Index remains under pressure, and if it breaks the 100.500 level, we could see a decline to 99 and 97. The dollar will only recover if it exceeds the 102 level.
EUR/USD:
The pair is trying to resume its upward trend, and if it breaks the 1.12 level, we could see a rise towards 1.13 and 1.15. If the breakout fails, the pair may enter a corrective downtrend.
GBP/USD:
The pair remains in a positive scenario, and if it exceeds the 1.3054 level, we may see a rise towards 1.4 and 1.5. Failure to break this level could lead to a downward correction.
USD/JPY:
If the pair breaks the 144 yen level, we could see a rise towards 148 and 152. Failure to break this level will keep the pair under selling pressure.
GBP/JPY:
The pair, known as “The Beast,” is regaining some of its gains. Stability above the 190 yen level supports an upward move towards 195 and 200 yen. Failure to maintain this level could lead to a drop towards 184 yen.
USD/CHF:
The pair remains under pressure, and failure to break the 0.58100 level could see a decline towards 0.8400 and 0.8300.
AUD/USD:
If the pair fails to break the 0.68400 level, it may enter a downward correction towards 0.67500.
NZD/USD:
The pair is trading positively, and stability above 0.61850 supports an upward move towards 0.63 and 0.64.
USD/CAD:
The pair remains under pressure, and stability below the 1.3600 level could target 1.3500 and 1.3400.
EUR/JPY:
The pair is trying to regain positive momentum, and if it breaks the 162 yen level, we could see a rise towards 166 and 170 yen.
EUR/GBP:
The pair is nearing a key support level at 0.80750, and breaking it could enter the pair into a downward trend targeting 0.80200 and 0.79700.
USD/TRY:
Ongoing trading above the 34 lira level supports an upward trend, and we could see a rise towards 34.50 and 35.00. Failure to hold above 34 lira may lead to slight corrections.
Commodities:
Gold (XAU/USD):
Gold is achieving strong gains due to economic and geopolitical developments. If it breaks the 2615 level, we may see a rise towards 2650 and 2690. Failure to break may lead to corrections towards 2590.
Crude Oil (WTI):
Oil is trading around the 71 level, and if it breaks this level, we may see a rise towards 74 and 78.
Silver (XAG/USD):
Stability above the 30.50 level supports an upward move towards 32 and 33.50. Failure to maintain this level could lead to declines.
Natural Gas (NG):
Stability above the 2.20 level supports an upward move towards 3 and 3.40.
Cryptocurrencies:
Bitcoin (BTC/USD):
Bitcoin is maintaining its gains, and if it stays above the 60,000 level, we could see a rise towards 65,000, with potential targets at 72,000 and 80,000. Failure to maintain this level could push prices back below 60,000.
Ethereum (ETH/USD):
Ethereum is attempting to resume its gains. If it breaks the 2700 level, we may see a rise towards 3000 and 3300.
Ripple (XRP/USD):
Stability above the 0.55 level supports an upward move towards 0.65 and 0.80. Failure to maintain this level could lead to declines below 0.55.
Indices:
Dow Jones (DJIA):
If the index breaks the 42,250 level, we could see a rise towards 43,440. Failure to achieve this could return the index to support levels around 41,600.
S&P 500 (SPX):
The index is approaching a critical support level at 5700. A break below this level could enter the index into a correction targeting 5550, while holding above 5700 could push the index towards 5850 and 6000.
Nasdaq (NASDAQ):
Stability above the 19,250 level supports an upward move towards 20,000 and 21,500. Failure to hold this level may lead to minor corrections towards 19,000.
Russell (Russell 2000):
The index is approaching a key support level at 2225. Breaking this level could lead the index towards 2160 and 2090 in the coming trades. Holding above this level could support the upward trend once again.
FTSE 100 (FTSE):
A break below the 8200 level could return the index to bearish pressures towards 8050 and 7900. Stability above this level may return the index to an upward move targeting 8400 and 8600.
DAX (DAX):
Falling below the 18,800 level could lead to downward corrections towards 18,217 and 17,400. Returning above this level may push the index towards a new upward wave.
CAC (CAC):
Stability below the 7600 level could enter the index into a bearish wave targeting 7200 and lower. A return above 7600 may resume the positive trend.
Nikkei (Nikkei):
Stability above the 37,000 level supports an upward move towards 39,000 and 41,000. Failure to maintain this level may lead to minor corrections towards 36,500.
Conclusion:
Thank you for watching, and I invite you to interact with us by asking your questions about the financial markets. Don’t forget to like the video and subscribe for more updates.
This analysis was prepared by Muhammad Qais Abdulghani, a financial markets expert, based on current data and market trends. Please note that all strategies and analyses are subject to market changes, and we recommend keeping up with economic updates to make informed decisions.
DXY 1D STRUCTURE Here is the daily structure for the DXY, There is a minor liquidity resting below and there is an OB present which broke structure that led to the formation of the huge liquidity resting above, prices will be watched closely and we will trade what we see not what we think will happen when the market opens we are just charting using strong order flow and thinking outside the box.
DXY STRUCTUREHi, guys it has been a while since I showed you guys the order flow of the market, We will be using DXY to correlate with other pairs such as EU, GU, AU, and NZD which correlates negatively with the DXY, so this is the weekly timeframe, there is a wide range of liquidity resting above that prices will have to clear which will engineer prices to the 1WEEK OB. I will break the trade down to the 15 MIN timeframe, stay tuned.
DXY one more push down accepted based on wtw concept .after this corrective up move, we are accepting to downside move of DXY
DXY: Market Is Looking Down! 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 100.587
Wish you good luck in trading to you all!
Dollar Index (DXY): Waiting For a Bearish Continuation
Dollar Index is trading in a strong global bearish trend.
Since the end of August, the market started to consolidate
within a wide horizontal range on a daily.
The signal that will signify a continuation of a bearish trend
is a breakout of a support of the range and a daily candle close below that.
It will push the prices lower at least to 99.8
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DXY sideways until break If DXY respect channel and a 4hr candle breaks below 100.5, we will see a further downside.
If DXY break above 101 and downward channel, we will see dxy head upwards.
Good luck and trade safe.
Stil dollar index is consolidating at narrow range.After breaking down Trendline Dxy is consolidating at range of 100.5 to 102
DXY ThoughtsThe Federal Reserve has your best interests in mind. They're certainly not lying to you about the Neutral Rate being "Higher" than historically. Certainly rates will settle around 3.5% and the 10-Year won't go negative as they cut to zero again in a Deflationary Bust.
#dxy #elliottwave buy setup long wave c 20sep24This count is based on my assumptions so anything can happen not a trading or financial advice.
DXY -> USD Strength Likely to ReturnDXY May Develop a Range Trading Pattern; USD Strength Likely to Return
The U.S. Dollar Index (DXY) may develop a range trading pattern, suggesting that the USD could become stronger again.
You may watch the analysis for further details.
Thank you and Good Luck!
Can DXY Stabilize at 99.50-100 Area Despite FED 50bp Cut? Dollar Index – DXY has turned bearish after the corrective rally stopped at 105.70-106, an important resistance area at the end of June. Since then, the price even accelerated lower through summer so it appears that a bearish impulse is in play, but with recent touch of a new swing low, DXY is possibly in fifth wave, so be aware of some support in weeks ahead. But closer look shows that there is still some room left for 99.50-100 area, but if this will occur and structure a wedge shape, then we should be aware of reversals, and new correction.
So as said, the price could still see a bit more weakness into the 5th wave to fully complete this ending diagonal, but then dollar can turn for a new correction, considering that recent dollar weakness has been mainly driven by these rate cut expectations, so now that this 50bp cut has been done, the dollar may stabilize due to a “buy the rumor, sell the news” effect.
However, any rally will be temporary, as I think that dollar has room for much more weakness, bu ideally after another a-b-c recovery.
101.80 -102 is strong resistance.
GH
Possibility of uptrend It is expected that the downward trend will be formed up to the specified support levels, then according to the behavior of the index in this range, the continuation of the moving trend will proceed according to the specified paths.
DXY longSpeculating a bullish probability with the Dollar gaining some strength leading up to elections, with a move towards the 104.00 psychological price level.
Friday's Livestream Analysis20th September
DXY: Currently at 100.60 consolidating , should trade lower, to 100.20 and could test 100 round number level.
NZDUSD: Buy 0.6260 SL 20 TP 70
AUDUSD: Buy 0.6840 SL 20 TP 50
GBPUSD: Buy 1.3320 SL 25 TP 115
EURUSD: Sell 1.1190 SL 20 TP 40
USDJPY: Sell 143.30 SL 40 TP 100
USDCHF: Sell 0.8430 SL 20 TP 40
USDCAD: Sell 1.3585 SL 25 TP 50
Gold: Broke above 2600. needs to breach 2610 to get to 2620
[DXY] Ranging or breakdown ?With both FED & BOJ has laid out the rates, TVC:DXY now need to decide, up to the top channel fence, or breaking down the nearest one, the bottom floor. Let's see.
DXY hit the 1W MA200 for the 1st time in 8 months! Will it hold?The U.S. Dollar index (DXY) following the Fed's -0.50% Rate Cut, hit on Wednesday its 1W MA200 (orange trend-line) for the first time in 8 months (since the week of January 10 2024). This is obviously the strongest Support on a long-term basis and technically should attract the first wave of buying pressure.
However, the multi-year pattern, being a Channel Up, suggests that given some more weeks it should break and go for a Higher Low (blue Arc). As you can see on this pattern, every time the 1W MA200 was tested during a Bearish Leg, it broke.
The last two Bearish Legs initially made a dead-cat-bounce and then priced the Low just above the 1.236 Fibonacci extension. The 1W RSI in particular provides very useful insight on this, as on the first oversold (below 30.00) Low it makes the bounce and then on the second RSI low, which is a Higher Low i.e. a Bullish Divergence, the price bottoms and rebounds long-term.
As a result, with the 1W RSI bouncing on the 30.00 oversold barrier, we expect the price to rebound for a few weeks and then resume the downtrend towards the 1.236 and the bottom of the multi-year Channel Up. Our Target is 97.000.
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DXY: Local Correction Ahead! 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 100.890
Wish you good luck in trading to you all!
