If the DXY breaks down from here, markets will risefollow me on X for daily updats as we progress The DXY, in other words the dollar index tend to lose terrain as markets rise and the opposite when markets are falling and people are flocking to cash by sivertbb664
DXY at the 38% retraceIntraday Update: After bouncing back from triangle support, the DXY is back at the 38% retracement and the underside of a broken ascending trend line which could act as key resistance into the Nor Am session. Shortby ForexAnalytixPipczar0
I think we will see a pullback on DXY I think we will see a pullback on DXY Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔by Dave-FX-Hunter4
DXY Will Go Lower From Resistance! Short! Please, check our technical outlook for DXY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 104.136. The above observations make me that the market will inevitably achieve 103.427 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!Shortby SignalProviderUpdated 119
I don't see why it should not hit 101.3Well intervention or no intervention, market did take a major hit yesterday. Pertaining to this it managed to break lower than 103 support area. The only possibility I see next is 101.3 i.e. the blue box.Shortby Uzi-Trades-Forex2
DXY: Recessionary Environment And Potential UpsidesHey Traders, in the coming week we are monitoring DXY for a buying opportunity around 102.200 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 102.200 support and resistance area. Trade safe, Joe.Longby JoeChampionUpdated 2221
Dollar Strengthening and the coming election cycleUS Dollar will continue to ping pong between supply and demand during the election cycle. With other major economies like China's being Paper Tigers, the U.S. will by osmosis become stronger. As we learned years ago, nationalized tightly controlled markets don't work as well or at all. The CCP will try and buy gold and other assets to de-dollarize which will only work for so long to make the dollar look weaker than it actually is. Trump's cabinet is largely ...less scientifically or mathematically inclined when it comes to policy. This will hurt the U.S. economy by increasing tax breaks for corpos and making it harder to maintain a healthy economy as wealth disparity increases. Despite Biden's less than stellar speaking skills, his policies reflect modern neoliberal globalist economic principles which tend to make America wealthier than other superpowers. Overall, we should expect a hawkish trend despite the extreme propaganda machine telling you that the dollar is weakening. This is a great contrarian opportunity. That is, if you think Biden will win the election. If not, get ready to look towards other assets like gold and Bitcoin.Longby ghosttreesUpdated 115
$DXYgoing back down to test that pesky support then 3rd attempt at losing the 200 ema IF we go back above yellow line then supply zone above will slap it back down imo Shortby CompoundingGainUpdated 9
US Markets Top of 03-2015 to End 07-2024Main = DXY Red = S&P500 Blue = NASDAQ100 Orange = M2 ------ Orange = VIX Red = S&P500 Blue = NASDAQ100 Green = EURUSDby SPACEMEN990
DXY bottomed - More downside for Equitiesdxy reaching a solid bottom based on my chart. Won't be surprised it it bounces back to prev high at 2023 October. That should also be a level that shorts should aim for when they are shorting NQ.Longby Kujo_Qtaro4
Market News Report - 04 August 2024USD/JPY continues its long-overdue downward spiral as it has done in the past week. Speaking of USD, the greenback suffered across the board (somewhat predicted in our last report) due to an unchanging interest rate and poor employment figures. Other notable gainers in the past week include the Swiss franc and euro. Let’s see how these and other markets may perform fundamentally and technically this week. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. The Fed's latest meeting (where they kept the interest rate unchanged) gave away a few dovish clues. Most notable is the potential for a rate cut next month, with STIR (short-term interest rate) markets predicting a 68% chance of this happening. A slight rise in the unemployment rate in the past week further adds to the bearish bias. The DXY chart aligns perfectly with the fundamentals, having just broken a recent key support. However, the break wasn’t strong enough, so 103.172 is still an area of interest for major support. Meanwhile, the key resistance is far away at 106.490 and will likely remain untouched for some time. Long-term outlook: bearish. Markets anticipate at least two rate cuts before the year ends. The latest Consumer Price Index (CPI) and jobs data indicate a cooling of the US economy, another bearish sign. Only geopolitical risks and bond market selling can affect this overall sentiment. So, we cannot rule out a bullish fight for the dollar, but it is unlikely to happen, at least quickly. Euro (EUR) Short-term outlook: weak bearish. The European Central Bank (ECB) has recently kept its interest rate unchanged. Christine Lagarde, the ECB President, also suggested slow economic growth in the Eurozone, with inflation expected to fluctuate around current levels. Furthermore, the President stated that September's interest rate meeting is 'wide open.' However, thanks to the ECB's overall dovish tone, markets see a 78% chance (up from 63% last week) of a cut. After falling slightly, the euro is looking to test the new major resistance, now at 1.09813 (not far from the former mark). Meanwhile, the key support area lies far below at 1.06494. Long-term outlook: weak bearish. The recent unchanged interest rate is the primary bearish driver. However, the ECB hasn't committed to a specific future path in this regard. Still, the central bank is data-dependent, and any improvement in inflation, growth, and wages can lift the euro. British pound (GBP) Short-term outlook: bearish. The folks at the Bank of England (BoE) cut the interest rate by 25 basis points at the 01 August 2024 meeting. However, they remain data-dependent and have no set future path. Still, STIR markets are currently pricing an additional two cuts for the remainder of 2024. Meanwhile, the pound is down on the charts, which shouldn’t be surprising given the fundamentals. The key support, at 1.26156, is not too distant. On the other hand, the key resistance is so far away (at 1.31424) that you have to zoom out your charts. In simple terms, we are bearish here. Long-term outlook: weak bearish. The interest rate is the chief bearish driver for the pound. However, STIR markets predict a rate hold next month. Furthermore, two-way risks remain based on upcoming economic data (e.g., inflation, labour, economic growth). Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan’s (BoJ) recent decision to hike the interest rate is bullish for the yen. However, STIR markets STIR markets expect a hold (95% probability) at the next meeting (but one hike before the year ends). Declining US Treasury yields and the heightened political tension in the Middle East have accelerated the recent huge down move in USD/JPY. Unsurprisingly, USD/JPY has confidently broken another major support. Interestingly, the new marker is now 146.482, a level which has been reached. However, this week should determine if the market stalls around this area or breaks it. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish In addition to the recent rate hike, other bullish catalysts for the yen include lower US Treasury yields. The Bank of Japan is actively intervening in the forex markets, contributing to the JPY's upside. However, having moved quite a distance, a retracement is imminent. Australian dollar (AUD) Short-term outlook: weak bullish. Due to persisting inflation highlighted by the Reserve Bank of Australia (RBA), the central bank has enough reasons to keep or hike the interest rate on Tuesday. On the flip side, markets suggest at least one rate cut in 2024 (initially set for 2025). However, the recent rise in China's share prices, which correlates with the Aussie, has been positive for the currency. While trading mildly in the past week, the Aussie is nearly testing the major support at 0.64653. Meanwhile, the major resistance is far ahead at 0.67986. Long-term outlook: weak bullish. The hot CPI for Q1 and April has pressured the RBA to increase rates, which they recognised in their meeting last month. Also, the slightly higher unemployment rate from the past few weeks is another impetus. While STIR markets anticipate a 33% chance of a hike, this has been priced out. Also, keep in mind that the Australian dollar is exposed to slow economic growth in other countries because it is a pro-cyclical currency. New Zealand dollar (NZD) Short-term outlook: neutral. As predicted by STIR markets, the Reserve Bank of New Zealand (RBNZ) recently maintained the interest rate at 5.5%. In their latest meeting, “The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures”. In simple terms, the central bank is winning against inflation and is, thus, unlikely to raise rates. NZD traders should diarise New Zealand's upcoming unemployment rate on Wednesday. Unlike its closest relative (AUD), the Kiwi has retraced upwards. However, it’s still within a largely bearish move. The primary support lies at 0.58524. Meanwhile, the major resistance is at 0.62220, an area which it’s unlikely to test soon. Long-term outlook: neutral. The central bank's recent dovish tilt amid improving inflation puts the Kiwi in a neutral bracket. Furthermore, STIR markets anticipate a 65% (up from 58%) chance of a rate cut next month. On the flip side, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. Canadian dollar (CAD) Short-term outlook: bearish. Firstly, the Bank of Canada (BoC) cut rates from 4.75% to 4.50% not so long ago. The Governor of the Bank of Canada (BoC), Macklem, had already suggested this would happen if inflation became stickier. Realistically, the BoC will drop rates slowly now or aggressively later. It's also worth noting that the mortgage stress in Canada has forced the BoC to be dovish, another bearish catalyst. Watch for the new unemployment figure for CAD on Friday. After a long while in range mode, USD/CAD is inclined more bullishly. It only just broke the recent major resistance (at 1.38463). The next target, which is quite nearby, is at 1.38991. On the other hand, the key support lies far down at 1.35896. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with Macklem himself saying it's reasonable to expect more cuts in the future. Moreover, STIR markets see two rate cuts for the BoC this year. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. However, encouraging oil prices may redeem the Canadian dollar as a risk-sensitive currency, along with improvements in jobs, inflation, and Gross Domestic Product. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a rate cut in September (a 92% chance) and December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. However, the Swiss franc can strengthen during geopolitical tensions like the Middle East crisis. Watch for the new unemployment figure for CHF on Tuesday. USD/CHF was among the biggest losers (dropping 1.71%), confidently breaking the last major support. We mentioned the likelihood of this happening. The new key support area to consider is now 0.85510. Meanwhile, the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion The most anticipated economic events this week include the unemployment for NZD, CAD, and CHF, along with the RBA's interest decision. Nonetheless, the fundamental outlooks for each major currency remain consistent from the previous week. However, see if these match the technical side and leave room for surprises. by CityTradersImperium_CTI0
Will DXY continue to bearish?Will DXY continue to bearish? Below 106 DXY still perform bearishShortby GoldInsightsHubUpdated 2
DXY Long Term MovingDear All, I see something about DXY which is more sophisticated than I thought, Maybe The Great Recession is on the way to the American economy!!! See if they could recover the USD strength before 79-81 or we should face it as firm reversal support in next four to eight years !!! Shortby AtareumFX553
Double top DollarThe Dollar is in big trouble. It´s a good time to add to your shorts. AUDUSD in mi case, and opening a short on EURUSD. Is going to be a slow death and painful death unless something changes in monetary policies. Shortby ArturoLUpdated 221
DeGRAM | DXY a sharp drop to the channel boundaryDXY fell to the lower boundary of the descending channel, continuing to move between the trend lines. The price reached the support level, which was already acting as a rebound point. The chart reached the lower trend line. We expect a rebound after a retest of the lower channel boundary. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Longby DeGRAM117
Looking for reversal in DXY under 102.2 zone(8/5/2024)In our last analysis, our prediction played well, the DXY corrected to 103.7, and after NFP data reached 102.7. With the fear of recession and NFP data, We are expecting DXY to retest the 102 zones. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)Shortby fortunamarkets1
Levels discussed on livestream 5th August 5th August DXY: Trading lower to 102.55, beyond that, could test 102 round number support level. NZDUSD: Buy 0.5930 SL 20 TP 50 AUDUSD: See reaction at 0.6465, RBA decision pending, Sell 0.6455 SL 20 TP 60 USDJPY: Look for retracement to complete (retest 144), Sell 143.50 SL 70 TP 250 GBPUSD: Buy 1.2870 SL 20 TP 70 EURUSD: Buy 1.1010 SL 20 TP 50 USDCHF: Sell 0.8540 SL 40 TP 85 USDCAD: Sell 1.3825 SL 20 TP 40 Gold: Needs to stay above 2410, break 2450 to retest 2480 resistance by JinDao_Tai3
Long from AREA BOXDear Traders, i expect price will be bounce off from 0.78-0.864 Fibo (start to complete E (Impulse), What you think about my idea? dont Forget Like&Comment please ! regards, Alireza!Longby alirezak2
DXY - NFP Data and FOMC Rate Cut Comments May Bring USD DownDXY - NFP Data and FOMC Rate Cut Comments May Bring USD Down Price is showing a clear bearish pattern. After some minutes the US will release the NFP employment data. IF they will be in line with Powell's comments about a possible rate cut in September then we may see DXY moving down aggressively this time. It can be the beginning a bigger weakness You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️Shortby KlejdiCuniUpdated 2263
DXY New Week MovePair : DXY Index Description : DXY Index is following Symmetrical Triangle as an Corrective Pattern in Short Time Frame and It has breakout the Lower Trend Line. According to Elliot Waves theory it has Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves. Rejecting from Strong Support Zone and Fibonacci Level - 61.80%by ForexDetective2
DXY Will Grow! Long! Here is our detailed technical review for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 103.207. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 105.057 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!Longby SignalProviderUpdated 118
Check the trend If the index can stabilize above the current support range, it is expected that a trend change will take place and we will witness the beginning of an upward trend. Otherwise, it will be possible to continue the downward trend with the breaking of the support trend line by STPFOREX0
U.S Recession RiskECONOMICS:EUINTR ECONOMICS:USINTR Potential U.S. Recession Amidst Late Business Cycle and Interest Rate Adjustments Dear Valued Clients, Currently, we are closely monitoring the developments in the U.S. economy and the potential onset of a recession. Current Economic Overview The U.S. is in the late stage of its business cycle, characterized by slowing growth and increased economic uncertainty. Historically, this phase often precedes an economic contraction. The Federal Reserve (FED) has been proactive in managing interest rates to curb inflation and sustain economic growth. However, as the accompanying chart highlights, there are signs that interest rate cuts may be on the horizon. Interest Rate Dynamics Our analysis suggests that if the European Central Bank (ECB) continues to raise interest rates while the FED initiates rate cuts, we could witness a significant shift in economic momentum. The historical data depicted in the chart indicates that such divergences in interest rate policies between the ECB and the FED have often foreshadowed U.S. recessions. The blue line represents the ECB interest rates, while the yellow line denotes the FED rates. Implications for the U.S. Economy The late business cycle phase, coupled with potential rate cuts, heightens the risk of a recession. The red zones on the chart delineate past U.S. recessions, emphasizing the critical juncture we currently face. Should the ECB's interest rates surpass those of the U.S., the resultant economic pressures could tip the U.S. economy into a recessionary period. Our team is here to support you in making informed decisions to safeguard and grow your investments. Thank you for your continued trust and partnership. Leveraged Team www.leveraged.co.zaLong08:13by liamsmith0