High probability setup...Everything in chart is so clear and good enough to long DXY. Trade safe. Longby rezamousavi0
DXY Analysis End of JulHi All, Greetings ! Hope you guys enjoy your weekend ! Last week of Jul , DXY has been exit the down trend movement after weeks . Lets see how it re-act this week . Cant wait this coming friday NFP ! Longby BKGTrader353
Dollar Index - Conflicting Market ConditionsLast week, dollar index witnessed a stop run into and through the weekly order block mapped out @ 103.885 before a retracement played out, booking price up to the macro dealing range of 104.348 (highs being 104.510). This week, the market managed to reprice up to a premium and above weekly buystops @ 104.510 before a sell-off happened. Candlebody closed as a spinning top bearish doji on the weekly. Whilst on the daily timeframe, the daily order block has held as 'support', as we are yet to see a daily closure at or below the mean threshold of the OB. Rangebound all week with the dealing range being 104.080 - 104.555. Awaiting for signatures in price to gauge whether buystops or sellstops is next. 03:52by LegendSince0
Pre-Fed DXYThe DXY touched the bottom of the downward channel last week but it managed to claw its back onto the 200-day MA support at 104.34. The DXY is trading near oversold zones and a retest of the 50-day MA, at 104.89, will likely be its next move. A surprise cut by the Fed will however see the DXY tumble onto the 38.2% support at 103.12 but our base case is for a retest of levels above 105.00. The markets were hit with two central bank rate cuts last week, the first from the Peoples Bank of China and the second from the Bank of Canada. Both central banks opted for a 25 basis points, like the ECB, and markets are bracing for three more rate decisions for the week ahead. The Bank of Japan is expected to keep rates unchanged at 0.10% and it seems like the BoJ’s currency manipulation strategy is finally bearing some fruit given that the Yen has managed to appreciate almost 5% in the past three weeks against the dollar. Additionally, the Bank of England is expected to cut their rates by 25 basis points. Everyone will however be holding their breaths for the Fed rate decision on Wednesday which is expected to remain unchanged at 5.50% On top of all the rate decision noise the latest non-farm payrolls print for the month of July will also be released on Friday with expectations pointing to a contraction of the US jobs figure. It is difficult to call the direction on the dollar and global risk sentiment given the busy calendar for the week ahead but the has been on the back foot in the month of July and a Fed pause may just allow the oversold dollar to lift its while other central banks continue to front run the Federal reserve. The macro economic data is suggestive of a resilient US economy after the 2024Q2 US GDP results printed a q-o-q growth rate of 2.8% last week. Longby Goose960
DXY BULLISH runDXY daily chart Looking at current price from the newly formed swing low at 103.741 which is close to the old swing low at 104.100, we can tell that price made a false break below and reversed back into the descending channel which signals a price reversal to the up-side targeting the swing high at 106.100. We can see a inverse H&S pattern forming on LTF’s 4HR/1HR and a lot of candles with multiple lower wicks that signal price rejection of the lows. 4HR/1HR chart We will be monitoring price action as we are currently consolidating within the price area of 104.520 (Top of range) and 104.180 (low of range). by cpointfx1
Idea for next week.Market Insight: Dollar Dips as PCE Data Fuels Rate Cut Speculation The U.S. Dollar Index is edging lower as traders digest the latest Personal Consumption Expenditures (PCE) report, which has heightened expectations for a Federal Reserve rate cut in September. The greenback’s movement is closely tied to the 200-day moving average, a key technical level that may determine its short-term direction. At 13:32 GMT, the U.S. Dollar Index is trading 104.283, down 0.116 or -0.11%.by EZIO-FX1
DXY - market structure - analysisthis is a ascending trend. this is what chart show us right now. but dont forget to put risk managment in your trading plan. if you cosider the M structure. that means there is all the time a probability to see a big drop. but chart is bullish so we will look for long positionsby KronFX2
A new trend come !!! DXY will go DOWN !!!Hello everyone ! A good Idea for long time - a new trend come for long time so do not waste this oportunity !Shortby Denis_price_action114
dollar for next week management criteria for every purchase. With today's technology, test a trading idea before risking real money. Known as backtesting,this practice allows you to apply your trading idea using historical data and determine if it is viable.09:07by Vishalatul0970
Next Week Trading Plan (DXY analysis)we have drawn some high lows of weekly and monthly swings after that, we have spotted a chart pattern on 4h of DXY indicating it was head and shoulder (incomplete) although the idea was the left shoulder of the pattern is bigger and on the right shoulder it will be shorter than the left shoulder neckline comes at 104.510 first target will be 104.900 which is derived from the right shoulder length and 2nd target is at level of 105.300 which is the length of head incase the first condition couldn't break through the neckline we then have to wait for price to retest the monthly and weekly support which is around 103.900 to 103.600by Jimmy_Rebello223
DXY Will Go Down From Resistance! Sell! Here is our detailed technical review for DXY. Time Frame: 7h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 104.242. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 103.696 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 114
Usd potential reversal?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Gonna be neutral for USD this week, wanting to see how the price action plays out with the avalanche of news coming out . Let's watch and play along. I do see a potential turn here. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. ********************************************************************* by Shadowing_The_Big_Boys0
DXY foreceast for short.Technical Analysis... 📉 **DXY Forecast: Downtrend Ahead?** 📉 Experts are predicting a downtrend for the US Dollar Index (DXY). Factors such as changes in Federal Reserve policies, economic data releases, and global market conditions are contributing to this outlook. Traders and investors are advised to stay informed and consider potential impacts on their portfolios. 📊 **Key Points:** 1. **Fed Policy Changes:** Anticipated adjustments in interest rates and monetary policy could affect the dollar's strength. 2. **Economic Data:** Upcoming reports on employment, inflation, and GDP may influence the DXY. 3. **Global Markets:** International economic conditions and geopolitical events play a significant role. 🔔 **Stay Updated:** Keep an eye on market trends and financial news to make informed decisions. --- **Disclaimer:** This post is for informational purposes only and does not constitute financial advice. Investing in financial markets involves risk. Please consult with a professional financial advisor before making any investment decisions.Shortby Mr_zero776
(DXY) Dollar - Break out pending from its consolidationThe DXY is currently in a consolidation phase, and I expect it to break out soon. Regardless of the direction, we have marked points of interest (POIs) that will help us capitalize on trading opportunities. - Scenario 1: Price Breaks Upwards If the price breaks above the consolidation, I anticipate it will fill the imbalance and tap into the supply zones marked on the 30-minute and 8-hour charts. - Scenario 2: Price Breaks Downwards If the price moves down, I expect it to mitigate the 16-hour demand zone. This zone appears to be a strong buy setup, likely pushing the dollar back up. There’s also an imbalance above this demand zone that needs to be filled. Overall, I am favoring an upward move, as this aligns with my bearish outlook on GOLD, EUR/USD, and GBP/USD.Longby Hassan_fx6
DXY Buys"US data should give officials more confidence that inflation is heading to 2% and we suspect attention will start focusing on achieving a ‘soft landing’ for the economy. Next week’s FOMC meeting should lay the groundwork for a September rate cut as policy starts shifting from restrictive territory to something more neutral" - Source - Think ING A rate cut by the Fed will put bearish pressure on the US dollar. However, speculations of a rate cut have been going on for over the past month signalling that the rate cut has mostly been priced in. We can expect bullish price action leading up to the rate cut. Longby TheForexMessiah2
Dollar Index is consolidating at Range.Dollar Index is consolidating at Range, It may break its lower boundry to continue downtrendShortby ZYLOSTAR_strategy2
DXY Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring DXY for a selling opportunity around 104.900 zone, DXY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 104.900 support and resistance zone. Trade safe, Joe.Shortby JoeChampionUpdated 4442
U.S. DOLLAR CURRENCY INDEX (DXY) (Update)Always and at all times. All events will occur in the chart. Trend Prediction - DXY Forecasting - Resistance and Support Lines **** Yousef Sharafi ****by MyAI20501
Dollar ShortShorting the dollar to a new swing low. HTF broke the 104 level and coming back to fill imbalance. Risking .5% per trade. Shortby SoapstoneCapital1
DXY Bearish Head and ShoulderA bearish Head and Shoulder pattern in the making in 1 H frame. Would be interesting to follow mates.Shortby noumannaseer1
DXY Price movement anticipation.Based on my technical analysis overview on the dollar index, I am anticipating the index to move up and fill the demarcated Fair value gap, and then drop down towards the sell side liquidity and the fair value gap below it. However, considering the political events in the USA as one of the factors that affects the forex market, the index may react contrary to my anticipation. With this in mind, I have to constantly update myself on any development regarding the sentiments and the events affecting the market.by Brian-Mongare3