DXY I am still short and from the zone the sentiments will change to being long and the proccess will be long because we require volume to confirm and this will be reviewed during month end on news and so on while we prep for the second week of AugustShortby Regaltrader2
Correction The downtrend is expected to advance to the indicated support levels. Then, according to the behavior of the indicator in this range, the continuation of the movement process will proceed according to the specified paths Shortby STPFOREX0
DXY big shortAs you can see there is an extremely beautiful ABC pattern that it can be shorted. Also during this downtrend of the DXY we will see different uptrends in other charts like BTC and stocks stuff because fiat cash will enter in other marketsShortby G_BLESSEDUpdated 1
DXY short movePrice had broken our support level and i expect to see a retracement to the recent created resistance level before continuing its downward movement. Shortby OCBE-FX0
DeGRAM | DXY has reached strong supportDXY is moving in a descending channel under the trend line. The chart is above the support level, which has already become a rebound point three times. We expect a rebound after a retest of the support level. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Longby DeGRAMUpdated 118
DXY UPDATEThis is an update to the earlier DXY analysis. We can see that price failed to create new highs and has taken out the April and June lows. With information we can look for sells in pullbacks to inefficiencies/imbalance. Next target is the Yearly equilibrium zone. With buys on GU and EU.Shortby ThePatientTrader_0
DXY Buy opportunity approaching at the bottom of this Channel.The U.S. Dollar Index (DXY) has been trading within a Channel Down pattern since the May 01 High, which is a technical Bearish Leg inside the long-term Channel Up structure. The price is already very close to the bottom of the Channel Down and with the previous Bearish Leg completing a -2.36% decline, we believe this is the right time to buy again on the short-term. The last mini-rally completed a +2.14% rise so, expecting a similar development, we will target 105.800 (top of the Channel Up on a +2.14% Bullish Leg). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇Longby TradingShot17
US DOLLAR INDEX(DXY): Your Detailed Technical OutlookThe Dollar Index price has reached the lower boundary of a horizontal trading range on the daily chart. Depending on how the price reacts to this structure, there are two possible scenarios. If the price breaks below the support of the range and closes below it, I anticipate a bearish trend towards much lower levels, with the nearest support at 103.32. On the 4-hour chart, I have identified a falling parallel channel. If the price breaks and closes above the resistance of this channel, I foresee a bullish movement. The next target for buyers would be 104.50. Traders, it is wise to wait for a breakout before making any moves. Exercise caution in your trading decisions!by linofx12210
Levels discussed on livestream 17th July17th July DXY: Look for price to retest 104 round number support and look at reaction. If price break 104 could trade down to 103.50 NZDUSD: Sell 0.61 SL 20 TP 50 AUDUSD: Sell 0.6710 SL 30 TP 70 USDJPY: Sell 157.10 SL 40 TP 120 GBPUSD: Buy 1.3010 SL 20 TP 80 (Hesitation at 1.3040) EURUSD: Buy 1.0925 SL 20 TP 55 USDCHF: Sell 0.8890 SL 25 TP 55 USDCAD: Sell 1.3655 SL 20 TP 50 Gold: DXY weakness, price to trade higher, break 2480 up to 2500 or even 2520by JinDao_Tai5
DXY Analysis & Trade Plan🌟 Dollar Weakness Expected 🌟 As discussed, we're eyeing a major move in the DXY 📉 due to lower inflation expectations. However, watch out for a potential bounce at 102.629! 👀📈 🕵️♂️ Key Chart Insight 🕵️♂️ The daily chart is our go-to for analyzing the dollar and other currency indices. It provides the clearest picture and ensures our trades are high quality. 🖥️📊 Trade planning is more fun than trading itself! 🎯 ⚠️ Potential Big Move ⚠️ Keep an eye on the daily demand level at 104.00. If it's removed this week, we could see the DXY drop hard! 🚀💥 Happy trading! 🤑💼 #Forex #DXY #Trading #TechnicalAnalysisShortby Mike_SnD1
DXY H4 - Long Signal DXY H4 Again, nothing too significant to report at the moment, whilst we are hugging 104.00 we remain bullish bias, it's as simple as that. DXY correlates primarily and fundamentally with FX rather than XAUUSD commodities. But we can still use for comparisons and indications. Hopefully this 104 level holds as anticipated support to warrant GBPUSD rejections as previously shared.Longby Trade_Simple_FX1
Will the Disinflation Trend Reinforce DXY Downward Momentum?Macro theme: - The highlight of the past week was inflation data. US Jun headline CPI slowed to 3% YoY (vs. 3.1% expected, 3.3% previous), and core CPI was 3.3% YoY (vs. 3.4% expected and previous). - The core service component has been declining, and rental prices may continue to fall due to delayed contract renewals. With this inflation trend, markets expect the Fed to make its first rate cut in Sep and another this year. - The dollar is likely to weaken, depending on the pace of monetary easing by other countries. If all major economies cut rates simultaneously, currency pairs may remain stable. Technical: - From a technical perspective, DXY broke its ascending channel and closed below both EMAs, shifting to bearish momentum. The index is right above its key support at 104.00. - If DXY extends its decline below 104.00, it may aim for a nearby support area around 102.75-103.00. - On the contrary, if 104.00 can hold the index above for a while, DXY may correct up to 104.90 before resuming its downward movement.Shortby DatTong2210
DXY at Critical Support! Massive Move Ahead! Technical Analysis Overview of DXY (U.S. Dollar Index) on 4-Hour Time Frame: Crucial Structure Point: The DXY is currently at a significant structural level, which could determine its next major move. Key Levels: Weekly LQZ: 108.007 Daily LQZ: 106.524 Daily LQZ: 101.908 Missed LQZ: 100.552 Current Price Action: The price is hovering around 104.283, a critical support zone. The market's reaction at this level will likely dictate the next direction. Potential Scenarios: Yellow Path (Primary Bias): Indicates a potential bearish scenario where the price might break below the current support level and head towards the Daily LQZ at 101.908 or even the Missed LQZ at 100.552. This path suggests a significant downward movement. Green Path: Represents a bullish scenario where the price could bounce off the current support and rise towards the Daily LQZ at 106.524 or even the Weekly LQZ at 108.007. This path suggests a recovery and continuation of the upward trend. Orange Path: Another bearish possibility where the price might initially fake out upwards but eventually break downwards, aligning with the yellow path. Market Sentiment: The annotations indicate that while the yellow path is favored, it is essential to remain adaptable as "anything can happen" in the market. This emphasizes the importance of not reacting impulsively but rather anticipating and preparing for different scenarios. Summary: Current Trend: The DXY is at a critical juncture, and its next move could be pivotal. Bearish Bias: The yellow path suggests a potential for further downside, targeting lower key levels. Bullish Recovery: The green path offers a possible recovery scenario, aiming for higher resistance levels. Strategy: Traders should monitor the price action closely around the current support level at 104.283. Look for confirmation before entering trades, and be prepared for both bullish and bearish outcomes.by Adlercon3334
BULLISH DXYGiven the recent consumer price index (CPI) inflation update, the DXY is exhibiting considerable strength, reinforcing my favorable outlook. It continues to adhere to the upward trend line and the most recent low.Longby ParlayProfitsFXUpdated 2217
BULLISH IDEA ON DXY!!This dollar drop doesn't smell good. It could be a liquidity grab before a new takeover. Let's not forget that until the Fed cuts interest rates, the dollar will be strong. I want to remind this to those who are already mourning the dollar for a miserable decline.Longby jamesbond70Updated 117
DXY: Deep Dive Analysis And Its Impact on Other Assets✨Welcome to my channel. Here, we conduct a daily analysis of crypto projects and forex pairs. 📅 Today's Analysis : Today, we'll be diving into the Forex market and analyzing the DXY index. 🔄 Previous Analysis Recap : In our last analysis, we reviewed this index in the weekly and monthly timeframes, incorporating fundamental analysis based on US interest rates and economic conditions. We noted that if support at 100.883 is broken, the price might start a downward movement. Today, we'll delve into the weekly, daily, and 4-hour timeframes to examine the smaller cycles and waves of this index. 📰 News Overview : Let's start with significant US news. The most noteworthy event is the incident involving Donald Trump, the Republican representative, who luckily survived. This incident has swayed many votes towards Trump, and positive discussions about him are trending on social media. This happened on a Sunday, so its impact on the Forex market was limited, but it immediately influenced the crypto market. Given Trump's support for crypto, Bitcoin saw a 2% upward candle and continued a short-term upward trend. On the other hand, the situation for Democrats isn't looking good. Joe Biden, their representative, seems unlikely to win based on his debate performances. The general sentiment on social media favors Trump, and with the power of media, it seems likely that Trump will be the next US president. If Trump wins, we might see growth in the crypto market due to his supportive stance. 📅 Weekly Timeframe [/b In this timeframe, after a significant price rise, the correction began, and the price dropped from the 113.305 peak to the 0.5 Fibonacci level at 100.883. It has since formed a long-term range between 100.883 and 106.630 since late 2022. Within this range, there's a symmetrical triangle pattern, and we are in the last third of the triangle with reduced price fluctuations between 104.039 and 106.121. 🎯 If the price gains downward momentum, our target can be 100.883. If it breaks the 106.121 resistance, the price will enter a strong supply zone between 106.121 and 106.630. For more details on this zone, we should move to the daily timeframe. 📅 Daily Timeframe In this timeframe, I've adjusted the support and resistance levels for more precision. The supply zone between 106.338 and 107.017 is crucial because the price faked out below the trendline once and bounced back up from the 100.883 static support, indicating a strong upward trend. However, it failed to penetrate this supply zone and was rejected at 106.338 without reaching the main resistance at 107.017. 📉 Last week's candle closed below the trendline, but I don't consider this breakout valid yet as it could be another fake-out, with the price bouncing from the nearest support and resuming its upward movement. I'll wait to see if the 104.039 support holds before confirming the trendline break. If this support breaks and the price stabilizes below it, a downward wave may begin, targeting 102.668 and then 100.883. 📈 If the price bounces back up from 104.039, the nearest resistance is at 106.338, a very strong supply zone. 🧩 Given the fundamental conditions and the break of 38.71 support in the RSI oscillator, a price decline seems more likely, but nothing is certain. If I see bullish signs and confirmations according to my trading strategy, I will adjust my view. The market is always changing, and one should not be biased towards a previous analysis. 📅 4-Hour Timeframe: This timeframe is too noisy for detailed analysis, so I'll focus on triggers and key points. 📈 If the price stabilizes above 104.524 and forms a higher high and low, we might see a Failure Swing pattern, indicating a trend change per Dow Theory. If this pattern completes, we can consider the market bullish in the 4-hour timeframe. Breaking the 50 level in RSI could provide additional confirmation. ⚡️ Next resistances are 105.162 and 106.121. 📉 For a bearish scenario, the 4-hour trigger aligns with the daily, and a break below 104.039 would suggest a downward move. 🔍 Let's look at the DXY's impact on Gold and Bitcoin. 👑 Bitcoin Analysis If the USD strengthens, Bitcoin might see another correction wave to the 56k and 47k levels. If the USD weakens, new ATHs for Bitcoin could be on the horizon. 🧲 Given Bitcoin's strong upward momentum and the visible curved trendline, we can target 130k for Bitcoin if the USD's value drops. 🥇 Gold Analysis Gold has significant upward momentum and is currently recording new ATHs. If the DXY declines further, gold could target $2800. 🔑If the DXY strengthens, gold might correct to around $2000, but this seems unlikely as gold typically has minor corrections and maintains a long-term upward trend. ⚠️Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.Shortby itsparham96114
DXY - Local bottom in?DXY The correction in dollar looks complete (a double-three). What follows a correction is an impulse. Unless price does another X-ABC down, otherwise 106.5 and beyond is the next target. USD denominated assets should be down soon. Longby QuercusTradingUpdated 4
Dxy Monthly Chart Analysis DXY Monthly Chart Analysis: - Five waves completed, Wave 5 hit the 1.618 Fib target, ending with bearish divergence—signaling confidence in the move's completion. - Price is currently above the monthly EMA21 and the blue curved trend line. - When these two supports fail (expected soon), a downturn will be confirmed. - First target: 1.0 Fib extension for Wave C, equal to Wave A (93.103). by DigitalMarkets1
Possible correction waiting for DXY(7/16/2024)DXY faced strong bearish momentum after CPI data. In the last few days TVC:DXY made a minor correction but the sentiment around USD is still bearish. We believe DXY continue its downward momentum until it reaches the 13.8 area. This area has a lot of liquidity, so maybe push the price to a little correction. Our technical view has been shown in the chart. If you like it then Support us by Like, 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
US Retail Sales & Cad CPI Data Pending16th July DXY: Look for price to retest 104 round number support. Look for reaction at support. If BAD retail sales, price could break 104 to trade down to 103.50 NZDUSD: Look for reaction at support Buy 0.6065 SL 20 TP 55 OR Sell 0.6040 SL 20 TP 55 AUDUSD: Buy 0.6750 SL 25 TP 50 USDJPY: Sell 157 SL 50 TP 120 GBPUSD: Buy 1.30 SL 20 TP 90 EURUSD: Buy 1.0925 SL 20 TP 55 USDCHF: Could trade down to 0.8920 and 089 USDCAD: Buy 1.3710 SL 20 TP 45 (CAD CPI Pending) Gold: DXY weakness, price breaks 2450, could trade up to 2500 by JinDao_Tai5
Market News Report - 14 July 2024After many months of being beaten, the Japanese yen was the surprising dominant force in forex this past week. The British pound also enjoyed notable gains against other markets despite maintaining a bearish fundamental outlook. Here's a recap of how the major markets performed on the charts and fundamentally to prepare yourself for the next 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 is slowly winning the fight against inflation, with the latest Consumer Price Index (CPI) data coming at a lower-than-expected rate of 3%) Despite this, the Fed has suggested at least one rate cut this year. Short-term interest rate (STIR) markets predict an 11% chance of this happening at the end of this month. The news highlight to consider this week includes new Retail Sales data. The 'Dixie' has made a complete u-turn in the past few weeks, aligning with recent fundamental changes. It's now very close to testing the major support level at 103.993, while the major resistance is far away at 106.490. So, things look bearish here. Long-term outlook: bearish. With markets anticipating at least two rate cuts by the Fed for the remainder of the year, the bearish bias is justified. The latest CPI and NFP data also indicate a cooling of the US economy. Only geopolitical risks and bond market selling can affect this overall sentiment. Euro (EUR) Short-term outlook: weak bearish. This week, STIR markets have priced in a hawkish move in the European Central Bank's (ECB) interest rate decision. On the other hand, the ECB's President, Christine Lagarde, recently hinted at a 'strong likelihood' of 'dialling back.' While the euro has benefitted from USD weakness, it may still dip depending on the US inflation story. As mentioned in our last report, the euro is getting closer to reaching the major resistance at 1.09160. (While the fundamentals point to the bearish side), dollar weakness is taking precedence for the euro, moving it far away from the major support level at 1.06494. Long-term outlook: weak bearish. The euro may be a bullish candidate over time thanks to USD weakness, improving inflation, and the recent French elections. Still, the ECB is the main bearish driver unless they hold the interest rate at its current level for now. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) continues to show dovish tendencies. STIR markets now predict a 56% chance of a BoE rate cut next month. Anticipate several high-impact news events for the British pound this week: inflation rate, CPI, and Retail Sales. Any weakness in either will most likely send GBP lower. Like its closest rival, the euro, the British pound is quite bullish. This currency went one extra by breaking the recent major resistance with ease. The next target (last reached a year ago) is some distance at 1.31424. Meanwhile, the new support area is 1.26156, which the pound won't be near to anytime soon. Long-term outlook: weak bearish. The interest rate is the chief bearish driver for the pound. So, the British pound is likely to find sellers as expectations for the potential rate cut in August grow. Still, the BoE has clarified that the monetary policy should be restrictive indefinitely until inflation is properly fixed. So, two-way risks remain based on upcoming economic data. Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan's (BoJ) recent decision to keep the interest rate unchanged is mildly bullish for the yen. Governor Ueda also stated, "depending on economic, price, and financial data and information available at the time, there is a chance we could raise interest rates at the July meeting." Moreover, STIR markets see a 60% chance of a rate hike in the meeting at the end of July. Unfortunately, JPY bulls should know that the BoJ does things rather slowly. Nonetheless, keep an eye on Friday's year-on-year inflation rate for JPY. After weeks of making high after high (including reaching an all-time high), USD/JPY dropped drastically, which was a long-overdue move. Still, the bulls haven't let up, with the key support level quite far at 154.546. On the other hand, the key resistance is at 161.950. Long-term outlook: weak bullish In addition to the expected rate hike, other bullish catalysts for the yen include a potential lowering in US Treasury yields. Given the yen's recent overdue recovery on the charts, expect Japan's Ministry of Finance to intervene in the near future to save the currency. 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 next month. The CPI print at the end of July is another consideration, with expectations of a positive outcome. Finally, the Australian dollar shares an interesting correlation with China. Data indicating growth in this region (e.g., stimulus, new infrastructure projects, solid economic data) should lift the Aussie. The Aussie will look to reach as close to the major resistance of 0.68711 as possible, another confirmation of the bullish outlook. Meanwhile, the major support remains far below at 0.65761, an area it is unlikely to visit anytime soon. 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. Furthermore, STIR markets anticipate a 33% chance of a hike. Conversely, 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) kept the interest rate consistent at 5.5% early last week. 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. Watch out for the new CPI print on Tuesday, where a high number would be bullish for the New Zealand dollar. Unlike its closest relative (AUD), the Kiwi traded mildly in the past week, moving slightly away from the 0.62220 key resistance. Given the key support being considerably lower at 0.58746, this market remains well on the upside. 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 50/50 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. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates on 24 July 2024. The Governor of the Bank of Canada (BoC), Macklem, has also suggested this would happen if inflation became stickier. Realistically, the BoC will drop rates slowly now or aggressively later. Strangely, however, recent CPI numbers were all positive for the Canadian dollar. Still, based on the recent weak labour data, we saw a slowing jobs market. Diarise the new year-on-year inflation rate this week for CAD. USD/CAD remains in full-on range mode, as it has done over the past few weeks. The major support at 1.35896 has been strong despite being only breached. On the other hand, the key resistance is at 1.37919. 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. Interestingly, the BoC faces mortgage stress, which is a major factor in this interest rate policy. We should also consider other bearish catalysts associated with CAD, like general fundamental data and its status as a risk-sensitive currency. However, encouraging oil prices may redeem the Canadian dollar. Swiss franc (CHF) Short-term outlook: bearish. With a 76% chance of the Swiss National Bank (SNB) cutting the interest rate recently, STIR markets were accurate. 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. Following a considerable rise from the key support at 0.88268, USD/CHF has retraced quite a bit. Meanwhile, the key resistance lies at 0.91582. This market can go either way with such a wide gap between the two points. However, it's best to seek other pairs where CHF has a weaker outlook than its quote or base currency. 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 Japanese yen's chart is slowly aligning with its fundamentals. It will also be intriguing to see how the British pound performs this week. As always, expect the unexpected with these and other forex pairs - so long as you are prepared with what's coming technically and fundamentally.by CityTradersImperium_CTI0