USDOLLAR Spinning top
bearish structure
going into this week, we would be looking for downwards price action
but we need to be aware of reversal levels which are marked with a orange line.
USDOLLAR trade ideas
USDOLLAR - Reflection PointFX:USDOLLAR
Hello Everybody, here we have the USDOLLAR INDEX on the Weekly chart. Over the past few months we have pretty much just been melting to the downside since making a double top around 12500. Price is now at a very significant level testing both the neckline and a major weekly descending trendline which was broken in March.
We currently have two fibs in play, a bullish fib on the weekly timeframe with price hovering above the 786 Level and a daily bearish fib giving us some room to come down, this will allow us to continue to short the Dollar on the lower timeframes.
We are hoping in the next couple of weeks we will have a clearer indication of where the dollar is heading in the coming months, should next week(s) candle close below the 786 level instead of rejecting it then we are anticipating further Dollar weakness.
If you look below at the daily timeframe you can see that we are still making higher highs and higher lows, respecting the bearish daily 618 fib level, EMA and trendline therefore the dollar can continue lower to around 11500 before either a daily correction or a much deeper pullback takes place.
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USDOLLAR : DOW JONES - THE BREATH OF THE DOLLAR 🔔Welcome back Traders, Investors, and Community!
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Dow Jones ForecastFunda : Fed Chairman Jerome Powell noted that recovery is still far from complete and while inflation pressures could rise in coming months, effects would be temporary. US Dollar held losses after the speech from Powell and is expected to continue losses as more high impact news today might reveal good news causing the depreciation of the dollar.
And The Dow Jones is looking bullish from the 11720 area at the H2 Chart. So, TA and Funda not agreeing again?
Bullish interest - USDOLLAR.
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
USDOLLAR BullishnessLooking for continuation of bullishness due to impulsive break of the range, i'll be looking for price to either come and retest the area before pushing higher, or create a structure above range to buy from.
USDOLLAR made higher lowI'm assuming next week will be a good buy signal for US dollar as the graph shows a possible higher low.
USDOLLAR Index Retesting Double Top NecklineUSDOLLAR Index Retesting Double Top Neckline for Further Weakness
USDOLLAR Index ForecastDollar in Range and will break either side after Accumulation or Redistribution of Prices
USDOLLAR: PULLBACK ON SUPPORT 50% FIBO - BUY SETUP 🔔🔔Welcome back Traders, Investors, and Community!
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Strategy : PULLBACK ON 50% FIBO
Good trading at everyone!
USDOLLAR SnR Set-upUSDOLLAR, H2 (Improved job reports stimuli) -UP
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
DXY technical analysisDXY on the higher timeframes has shown us that we should be bearish. Taking it down to the 30minutes timeframe, we see that the drop is in motion but we are retracing to the grey area of liquidity.
US Dollar Index- Reverse Head and ShouldersUS Dollar Index- Reverse Head and Shoulders pattern confirmed.
DXY - Short Opportunity-21The Price break horizontal line & moving towards upper trendline.
You can place sell stop for execution of the trade or wait for price action to short
USDOLLAR index 1-2-3 Trend reveral complete! Initially prevailing Downtrend - Yellow line.
1- Downtrend is disrupted.
2- Temporary new dip is made (either higher, equal, or lower than prior immediate bottom).
3- Old previous high of 2 is taken out.
If all 3 points are taken out, this is a 1-2-3 trend reversal.
For further information:
thepatternsite.com
Dollar Index AnalysisLooking at the Dollar Index we can see a Double bottom and an Ascending Triangle formation on the neckline to break the barrier for the dollar to strengthen. Ascending Triangle is a continuation Price Action pattern
So we can see the Dollar strengthening against all the Major FX pair. Watch out for that move.
