USDOLLAR trade ideas
DOLLAR INDEX H1 bearish conditions ???Bearish conditions seems to be there:
- RSI clearly overbought
- Stochastic overbought
- RSI main hidden divergence for bearish continuation
DOLLAR INDEX daily short term bullish / long term bearishPrice seems to retest the median of the bullish pitchfork (main dashed trend line) and maybe design a new lower high. Depending on it, then return in a bearish trend.
There is a high probaility that price will go bearish to join the median of the bearish pitchfork (dotted trend). If it doens't reach the median by september, there willl have then a high probability for a bullish trend.
USDOLLAR Show Raising wedge pattern USDOLLAR Show raising wedge pattern. Is it will be going?? we'll see what market want!!
Elliot wave + abcd + abcd confluence inside ascending channelDollar index is forming elliot wave within a channel, with 2 abcd patterns, maroon and yellow, completing near the purple area. Usd pairs may have one more push before a reversal happens
Long EURUSD, Short USDJPYUSDOLLAR Index H&S pattern.
Break of uptrend line and backtesting broken trendline-neckline of H&S.
Since EURUSD and USDJPY has the most significant weighting in the USDOLLAR index, expecting huge moves on both pairs soon.
expecting a fake outthen next week will have good news in NFP, to move upwards to find the FOMC big bear candle.
USDollar AnalisisFrom my point of view. USDollar is forming Bearish Bat Pattern in TF Daily. There will be a fresh Demand on FIBO ration 88.6.
For a long term focus on Sell USD
Let see what's next !A new up trend for the last rally forming ? or just a kiss & goodbye ? will see !
USDOLLAR DJINDEX FXCM short on monthly chartSL = 12958
ENTRY ORDER = 12295
TP1 = 11632
Two positions with the same stop loss and x1 target for the first position
The stop loss of the second position to breakeven when the first position hits the target1.
The second position has no target, only exit
Risk= 2% of account capital (1% each position)
#USD Wave 4 still in progress Back to 1225-300 support. If we break .886 at 12280, looking for ab=cd to complete at 12115 to test multiyear channel support and EurUsd to test 1.10
INDEX STANDS AT CRITICAL SUPPORT, H&S NECKLINE AND TRENDLINEIndex stands at the junction point of a H&S neckline and a
trendline going back to June 2016. The starting of next week
may give clues to wether index will find support or if it will
break the TL and neckline.
If index breaks below the 12300 level on a closing basis
and the neckline is fixed to this level (disregarding the spike
to test the Yearly PP) a target of the H&S pattern is found
at 11990 which coincide perfectly with the 127 extension of
an ABCD pattern forming from the top. This level is also
close to the Yearly S1 at 11940.
If Index finds support by the TL upward resistance is found
at the Kumo cloud and right shoulder high. If index returns
right back to the top of the right should this would put in
question the H&S pattern altogether, thus the bounce shouldn´t
be to strong in a bearish scenario.
Long USDOLLAR around 12250I am looking for a double bottom, without significantly breaking through the previous highs. The facts that it didn't touch (missed) the support trend line and that it didn't make break from the old resistance are short term bearish of the USDOLLAR. Also it is below RSI 50 and its momentum is clearly bearish.
When the indexs gets near 12260 and the RSI 30-35, I am going to be going long.
