The Breakout (The Easiest Chart To Ever UnderstandMy other Idea has a video explanation if anyone is interested
USDX trade ideas
The Breakout! With The Easiest Chart Thank you for taking your time to watch this video and if you enjoyed it, Please feel free to ask any question in the comments and leave a like!
DXY WIL KEEP GROWING|LONG|
✅DXY is making a rebound
From the horizontal support
Level of 104.500 while trading
In an uptrend so we are bullish
Biased and we will be expecting
A further bullish move up
LONG🚀
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Dollar Milkshake theoryRegardless of how much fiat is printed by the FED, the US dollar will still strengthen against a basket of fiat. Value will flow towards the fiat with the smallest delta between interest rates and inflation - and that’s the US. The dollar will truly be king, and BRICKS is not new, and the “ice 9” scenario didn’t happen. Trump will engineer a soft landing and pay off debt with national resources in a clean way. Business will return, and the Russian Ruble and the US dollar will vie for dominance, while China stays pegged. Good day to you sirs and madams!
DXY topped on the 1-year Channel Down. Strong downside potentialThe U.S. Dollar index (DXY) has been trading within a Channel Down pattern since the October 03 2023 High (13 months) and yesterday got the first red 1D candle after almost touching the pattern's top (Lower Highs trend-line) the day before.
As the 1D RSI has dropped significantly after being overbought 2 weeks ago, this is a very similar top formation to the Highs of April 16 2024 and October 03 2023. As a result this is the earliest possible sell entry we can take to target long-term the new Lower Low of the Channel Down.
The previous two Bearish Legs priced their Lows after roughly a -6.00% to -6.25% decline, just above the 1.1 Fibonacci extension. As a result, our Target is 99.800.
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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 104.301
Wish you good luck in trading to you all!
DXY Will Go Up From Support! Buy!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 104.427.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 105.268 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Is the DXY dollar index ready for a correction ? H4 08.11.2024💸 Is the DXY dollar index ready for a correction ⁉️
Looking back to 2016 when Trump first became US President, the dollar index initially reacted with a sharp rise and then a prolonged fall. I wonder if history will repeat itself again or if the market will take his second presidency more calmly in the distance.
DXY formed a sellers' zone at 104.80-105.16, but the far resistance zone at 106 remains intact. It's not a sure thing that it will get there, but I keep the option in my head just in case. The priority for me is to fall from the nearest sellers' zone with the targets of 103.30 and lower to 102.30. I will specify in the process.
TVC:DXY
possibility of uptrendAs long as the index fluctuates above the support range, the upward trend is likely to continue.
Otherwise, the downward trend will be possible to the previous floor range
DXY Price Action2 conditions to make this happen:
1. If Dollar closes November 4th week an inside candle as seen here,
2. If Dollar gives a bearish 4H Market Structure Break from the weekly FVG retested above
Bullish bounce?US Dollar Index (DXY) is reacting on the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as a pullback resistance.
Pivot: 104.41
1st Support: 103.87
1st Resistance: 105.26
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.
dxyThe U.S. Dollar Index (DXY) is a measure of the U.S. dollar's value against a weighted basket of six major foreign currencies. The euro has the largest weight at 57.6%, followed by the Japanese yen (13.6%), British pound (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%), and Swiss franc (3.6%). Created in 1973 after the Bretton Woods system's collapse, the DXY helps traders and investors track the dollar's overall strength in international markets. When the index rises, it means the dollar is strengthening against these currencies, while a falling DXY indicates dollar weakness. Many factors influence the DXY, including U.S. monetary policy, interest rates, economic indicators, and global market sentiment.
Bearish DXY Trade Idea (High Time Frame)With the U.S. dollar showing signs of a potential high-timeframe trend reversal, a bearish outlook on DXY may be forming as broader macroeconomic factors weigh on the dollar’s strength. The 0.25% rate cut, combined with slightly softer economic data, could erode the dollar's current resilience and encourage further selling pressure.
King Dollar is Back!DXY surged this week, bolstered by strong U.S. economic data.
Durable Goods Orders for July spiked by 9.9%, far exceeding expectations, while Q2 GDP growth was revised up to 3.0%, indicating robust economic activity. The labor market remained stable with Initial Jobless Claims slightly below forecasts and Continuing Claims steady.
On the downside, the housing market showed weakness, with Pending Home Sales dropping by 5.5%, reflecting challenges in that sector. Despite this, the overall data supports a bullish outlook for the dollar.
As we approach the next trading week, key support levels like 101.00-101.50 and last week’s highs will be critical areas to watch for potential long entries.
DXY 15M Gap Close Trade IdeaBased on recent price action, I anticipate the market will move to close this gap. The gap close would align with typical liquidity-seeking behavior, as the market tests previous levels to confirm sentiment. Watching for confirmation near key intraday levels before positioning further.
DXY: Strong Bullish Bias! 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 104.767
Wish you good luck in trading to you all!
Dollar index remains under 105.00The dollar index has been losing its previous bullish momentum for a couple of days now, encountering resistance in the 104.50-104.70 zone. This resistance coincides with the resistance from the end of July.
From this morning, we see a pullback to the 104.00 level and a hint of a turn to the bearish side. The first target is the EMA 200 daily at 103.40. If the support is not enough, the index could continue up to 102.00.
Maybe this pullback will be short-lived, and we will see a return to the bullish side again. We will be looking at a jump from 105.00 to a new four-month high.
Dollar path moving forwardDollar path moving forward. Last time Trump won this is what Dollar did. I expect the same.
DXYWe might have to amend my DXY strength bias as it was flawed because I did not take into account FOMC tonight. With expected rate cuts of 25 bips we might observe USD weaken. With DXY already near R1, we might observe USD weak today. two conflicting events happening simultaneously.
1. expected results of Trump's future policy
vs
2. 92% chance of a 25 bips rate cut tonight.
that will be interesting to watch how this plays out in coming weeks.
Bearish drop?US Dollar Index (DXY) has reacted off the pivot which aligns with the 161.8% Fibonacci extension and could drop to the 1st support which acts as a pullback support.
Pivot: 105.42
1st Support: 104.65
1st Resistance: 106.13
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.
$DXY last gasp before the monetary reset. Sad.3-3-5 watching the expected rejection at the median line of the channel probably before pivoting and falling out the bottom. Sad times for many..
