analysis DXY mallicastThe analysis of the Dollar Index by the mallicast team, which we have followed throughout the week, will continue as we aim to assess its further developments.
USDX trade ideas
Pre ECB Rates Decision Analysis12th September (ECB Rates Pending)
DXY: Climbing towards 102 resistance, could push higher if EUR weakens, needs to break 102.20 for further upside to 102.70
NZDUSD: Sell 0.6135 SL 20 TP 60 (Hesitation at 0.6110)
AUDUSD: Sell 0.6685 SL 20 TP 60
GBPUSD: Sell 1.3030 SL 25 TP 60
EURUSD: Rates decision pending, straddle opportunity, Sell 1.0985 SL 20 TP 45
USDJPY: Sell 143.50 SL 50 TP 150
USDCHF: Buy 0.8585 SL 40 TP 80
USDCAD: Sell 1.3580 SL 30 TP 70
Gold: Needs to stay below 2520 for downside to 2500
DXYEntry 15m.30m
After spike and channel we have 4h tr and reject from high of 4h tr.
Bearish setup in 15m.
Also in daily DXY is bearish.
Albrook method.
USD index patterns: a cup and handle or ascending triangle?The US Dollar Index (DXY) appears to form either a cup and handle or an ascending triangle pattern. The critical level to watch is 101.50. Ideally, it would be better if the price gets rejected at this level today and a breakout is attempted tomorrow or Monday to build up the importance of the pattern and make it more mature.
A successful breakout above 101.50 could signal a stronger bullish push, potentially driving the price up to 102.49. However, given the overall bearish trend of the dollar index, a more conservative target around 102 on a breach of 101.50 seems more realistic.
As for stop-loss placement, while it's unclear where the best position might be, a common approach would be to place it just below the daily low on the day of the breakout.
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Potential bullish move for DXYon the 4H TF , after respecting the 100.600 level , DXY cold create a new Higher High. If so the trend will reverse and become bullish.
Alternatively the 102 level won't be broken and the trend will flip bearish
these are just my views and my views only
DYOR
Stay Safe
DXY Wave Analysis (2nd Week/Sep/2024)Downside ZigZag A-B-C is in progress and we are at C (Diagonal) wave.
I expect at least the price will reach 99 point or Diagonal (i) (iii) line around 98 point.
DXY LAST CORRECTION WAVE (WAVE C)Currently, from my perspective, DXY is probably in a corrective wave (ABC). WAVE B, is not yet done but anticipating an end at 99.099 price level. After then comes the last WAVE C then the bearish trend or thread continues....
Let's see how this goes.
WAVE A = 5 WAVES
WAVE B = 3 WAVES
WAVE C = 5 WAVES
Short term DXYSmall move up to finish ABC correction which could be a wave no 4. Next expectation to go down for finish wave no 5.
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 101.416
Wish you good luck in trading to you all!
DXY Will Go Lower! Sell!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 101.699.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 99.580 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.
Like and subscribe and comment my ideas if you enjoy them!
According to the important reports of CPI and PPI, in which direConsidering the current resistance in the dollar index in the range of 101.891, after breaking this zone, we can expect to climb up to the range of 102.263 and 102.901. Otherwise, after breaking the support in the range of 100.749, we can expect the range of 100.169 and 99.421 to continue falling.
DXY: Key Levels to Watch Ahead of CPI Data ReleaseWith the CPI data release on the horizon, the DXY is hovering near critical levels. Traders should keep a close eye on the price action as volatility could spike. The red and green lines on the chart mark important zones that may influence the market’s next move—whether it's a breakout or a reversal.
Curious how these levels might react to the news? Drop a comment below, and follow for more insights as the data approaches!
*Disclaimer: This is not financial advice. Always trade responsibly!*
Looking at a JUMP for DXYDXY is currently bearish and looking at CPI data, should go lower but the interest rates and the coming elections should create a serious push upside, especially considering the fact that the debate will be done soonest.
We should see bearish movement for XXXUSD and then bullish movements later on.
Pre-CPI Analysis11th September
DXY: Consolidating, should stay below 101.50, CPI Pending, break below trendline to trade down to 100.85, key support at 100.55
NZDUSD: Buy 0.6175 SL 20 TP 60
AUDUSD: Buy 0.6690 SL 30 TP 60
GBPUSD: Sell 1.3115 SL 20 TP 65 or
Sell 1.3030 SL 20 TP 60
EURUSD: Could retrace to trendline and reject, Sell 1.1075 SL 20 TP 60
USDJPY: Sell 140.70 SL 50 TP 130
USDCHF: Sell 0.8484 SL 20 TP 80
USDCAD: Sell 1.3570 SL 35 TP 70
Gold: Retest of 2530, rejection down, below 2517 could trade down to 2485
Will the Dollar recover soon?DXY is just under 4HR 50MA around 101, yet to reclaim 101.2. CPI at 14:30 could trigger the next move. If 4HR 50MA can’t be claimed then a retest of 100 can be expected. Reclaiming 50MA could lead to a test of 4HR 200MA around 102.
Dollar Index (ICE): Potential decline (READ DESCRIPTION)Dollar Index (ICE): Potential decline of 1780 to 3280 pips.
Pivot:
101.6000
Preferred strategy:
Enter short positions below 101.6000, targeting 101.1500 and an extended target at 101.0000. This indicates a bearish outlook as long as the price stays below the pivot level.
Alternative scenario:
If the price rises above 101.6000, look for further upside with targets at 101.7500 and 101.9000, suggesting a potential shift to a bullish trend.
The immediate trend remains downwards, with strong momentum supporting the potential for further declines.
Another chance to go LONG on EURUSDIt's never too late to join the party. Just because you did not catch it at the bottom does not mean you are excluded from the party. Some parties last longer than expected and I think this EURSD LONG party has barely started...........
Please DYODD
Correction The corrective trend is expected to advance to the specified support range. Then, according to the behavior of the price, possible scenarios have been identified
[US Index] The forecasting of DXY's price action The forecasting of DXY's price action on Sept 11th, 2024
DXY MARKET OUTLOOK AHEAD OF CPIPrice has been on a shorterm bearish trend for past 20 trading days now. Price is currently at $101.618 few pips away from the support level of 100.864 ahead of US INFLATION RATE REPORT, are we going to experience a continuous bearish trend or are we likely to see price hold strong at the support?
Fundamentals, investors are anticipating a same as previous outcome which may likely place price on a hold phase.
Daily Technical Analysis of Gold,Currencies,and Indices11/9/2024Daily Technical Analysis of Gold, Currencies, and Indices - September 11, 2024
Introduction:
Greetings, I am Mohammed Qais Abdulghani, Financial Markets Expert, bringing you the daily technical analysis of the most important currency pairs, commodities, and indices for Wednesday, September 11, 2024.
Key Economic Data:
Before starting the technical analysis segment, let’s review the key economic data expected today, which will significantly impact price movements:
• At 9:00 AM Mecca time, the Gross Domestic Product (GDP) report for the British Pound will be released.
• At 3:30 PM Mecca time, the U.S. Consumer Price Index (CPI) and Core CPI, key inflation indicators, will be announced.
• At 5:30 PM Mecca time, the U.S. Crude Oil Inventory report will be published.
Technical Analysis:
U.S. Dollar Index (DXY):
The U.S. Dollar Index remains under pressure, with prices continuing to trade below the 102 level, which signals potential downside risks towards the 100.500 and 99 levels. A sustained breakout above 102 is needed for the index to maintain its bullish momentum.
EUR/USD:
Currently, the EUR/USD pair is trading near the critical support level at 1.10. Breaking below this level could trigger a move toward 1.0850 in the medium term. However, as long as the pair stays above 1.10, the positive outlook remains intact.
GBP/USD:
The GBP/USD pair continues to trade under pressure, remaining below the 1.31 level. This suggests a bearish scenario targeting 1.29700 and 1.28500 in the medium term. The bearish outlook will be invalidated if prices reclaim 1.31.
USD/JPY:
The USD/JPY pair remains under downward pressure, with prices trading below 145 yen. This supports a bearish scenario, targeting 140 yen in the short term and potentially 134 yen in the medium term. A move above 145 yen is required to invalidate this bearish outlook.
USD/CHF:
The pair is trading under pressure, with prices below 0.58100, supporting a bearish scenario targeting 0.5700 and 0.5630. This outlook will remain intact unless the pair climbs above 0.58100.
AUD/USD:
The AUD/USD pair continues to trade lower, and a break below 0.66700 could lead to further declines toward 0.6500, with medium-term targets around 0.6200. The bearish scenario will be canceled if prices rise above 0.66700.
NZD/USD:
The NZD/USD pair remains pressured, and the downtrend will continue if prices break below 0.61000, with a potential move toward 0.60500 in the medium term.
USD/CAD:
The USD/CAD pair is attempting to capitalize on falling oil prices due to the positive correlation between the Canadian dollar and crude oil. If prices break above 1.36000, we could see an upward move toward 1.37500 and 1.39000 in the medium term.
GBP/JPY:
The GBP/JPY pair is approaching a critical level at 184 yen. A break below this level could trigger a sharp decline toward 177.50 and 170 yen in the medium term.
EUR/JPY:
The EUR/JPY pair remains under pressure, and a confirmed break below 158 yen could lead to a decline toward 153 yen and 148 yen.
EUR/GBP:
The EUR/GBP pair is trying to break free from selling pressure, and a move above 0.80500 could result in an improvement in performance, targeting higher levels.
USD/TRY:
If the USD/TRY pair holds above 34 lira, we could see prices rise toward 34.50 and 35 lira.
Bitcoin (BTC/USD):
Bitcoin is still trying to shake off selling pressure, and breaking above $60,000 is a critical level to shift Bitcoin into a stronger upward trajectory.
Ethereum (ETH/USD):
Ethereum continues to trade under pressure, but holding above $2,200 keeps some bullish hopes alive. To achieve further gains, Ethereum must surpass the $2,400 level.
Ripple (XRP/USD):
Ripple remains under pressure, with prices below $0.5500, increasing the likelihood of further declines toward $0.4800 and $0.4000 in the medium term.
Gold (XAU/USD):
Gold is attempting to regain its strength, and if prices can break above $2,520, we could see a rally toward $2,560 and $2,600, with potential new record highs around $2,700 in the medium term. The bullish scenario remains in place as long as prices stay above $2,460.
Crude Oil (WTI):
Crude oil remains under pressure, with prices below $70 per barrel, signaling potential declines toward $64 and $60 in the upcoming sessions.
Silver (XAG/USD):
Silver is still under pressure, and it won’t be able to recover previous losses unless prices move back above $29. Until then, the downside risks remain.
Natural Gas (NG):
Natural gas is trying to recover from selling pressure, but we need to see a confirmed breakout above $2.20 on the 4-hour chart to confirm further upside.
Dow Jones Industrial Average (DJIA):
The Dow Jones remains under pressure, with prices holding below 41,000 points. A break below 40,000 points could lead to further losses down to 39,000 points.
NASDAQ:
The NASDAQ remains pressured, and with prices below 19,250 points, the risk of a decline toward 18,250 points and lower is increasing.
FTSE (FTSE 100):
A break below 8,200 points could lead to a drop toward 8,050 in the short term, and possibly 7,900 in the medium term.
DAX (Germany):
The DAX is trying to maintain its bullish stance, but a break below 18,200 points could create selling opportunities targeting 17,516 and 16,880 points.
CAC (France):
The CAC remains under pressure, and staying below 7,600 points supports a potential drop toward 7,200 and lower.
Nikkei (Japan):
The Nikkei is trading under pressure, and staying below 37,000 points increases the likelihood of a drop toward 35,000 and 33,000 points in the medium term.
Conclusion:
That concludes today’s daily technical analysis. Thank you for following along. Please accept my best regards, and until next time, stay safe.
This analysis has been prepared by Mohammed Qais Abdulghani, Financial Markets Expert, based on current market data and trends. Please note that all strategies and analyses are subject to market changes, and it is advisable to keep track of economic updates when making informed decisions.
