#dxy #elliottwave long buy setup wave 5/c/b 29Nov24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
DXY trade ideas
Unmasking DXY's Bullish Potential with Volume ProfileH ello,
The unusually high market activity around the 100.5 level indicated strong bullish accumulation. The yellow ellipses highlight the volume and price levels. You can see that volume decreases both above and below this key level. This accumulation is evident because the price broke out of a bullish consolidation pattern, as shown in the left yellow circle, reaching a high of 103.9, indicated by the yellow line. This is the current level, where you may notice exceptionally high market activity. As the price remains above the green demand zone, the red supply zone may be tested, as suggested by the volume profile.
Regards,
Ely
DXY Is Bearish! 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 106.269.
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 104.187 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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DXY 4HWe can see a good bearish leg on DXY
- This is not sell or buy signal. Don`t trade with anybody else analysis or signals.
- Never risk more than 1% of your account on any position. And don't forget to have more than 5 confirmation for any trade!
DeGRAM | DXY exiting from the accumulation zoneDXY is in a descending channel between trend lines.
The chart has already reached the lower boundary of the channel, the lower trend line and the support level, which has already acted as a rebound point.
Price has quickly picked out of the range between the levels and is now above the accumulation zone.
AB=CD pattern has been formed.
We expect a rebound after consolidation above the accumulation zone.
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USDX focuses on resistance near 106.6On the 4-hour chart, USDX fell from a high, and short-term bears have the upper hand. At present, you can pay attention to the resistance near the downward trend line 106.6. If the rebound is blocked, you can leave a message for shorting opportunities. The support below is around 105.5. After breaking through, the support below is around 105.0. If the price breaks through the resistance near 107.0, it will return to the bullish trend.
DeGRAM | DXY breakout of the channelDXY is between the trend lines under the ascending channel.
The chart is moving from the upper trend line and has already dropped below the lower boundary of the channel.
The price is under the 78.6% retracement level.
We expect a decline.
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Bearish drop?US Dollar Index (DXY) is rising towards the pivot which is a pullback resistance and could drop to the 1st support which is a pullback support.
Pivot: 106.52
1st Support: 105.44
1st Resistance: 107.57
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DYX I can see W patternDYX 1 Day tf W pattern spotted. Dollar will get stronger that means other markets and Gold will get weaker. Target is 106
DXY: High-Probability Retracement SetupThe DXY has been forming higher highs, signaling bullish momentum. Currently, the market appears to be making a short-term retracement into a daily bullish order block (OB) at 105.174, which aligns with a high-probability setup, further supported by a fair value gap (FVG) just above it.
Confirmation of this retracement transitioning into expansion will occur if a daily candle taps into the OB and closes above the PD array. If this scenario unfolds, the next target is the buy-side liquidity (BSL) at 108.060, marking a significant level for potential upside momentum.
Keep an eye on the daily closures for validation, and always align entries with confluences for optimal risk management.
DXY wants upBut first we retest that trendline.
Giving us a brief window for risk on.
Maybe even until Q1 2025.
Hopefully.
(I'm biased)
DXY Top Bands WeeklyTop bands to Bottom bands, and I will still be bearish when its down there. Dollar has been bullish since 2008. 2024 now, it is time for the bear market. Macro chart for dollar is lower highs lower lows, right now we are on the high.
I'm bearish on dollar, and hence i'm buying GBPUSD / EURUSD for long term.
DXY/USD to strong setupUS Dollar defends its ground as markets digest FOMC minutes
In Tuesday's session, the US Dollar Index (DXY) which measures the value of the Greenback against a basket of currencies, fluctuated near 107.00 following the release of key economic data. In the meantime, markets digest President-elect Donald Trump’s threat to impose tariffs on three of its largest trading partners and look for clues in the Federal Open Market Committee (FOMC) Meeting Minutes from the Novemeber meeting.In Tuesday's session, the US Dollar Index (DXY) which measures the value of the Greenback against a basket of currencies, fluctuated near 107.00 following the release of key economic data. In the meantime, markets digest President-elect Donald Trump’s threat to impose tariffs on three of its largest trading partners and look for clues in the Federal Open Market Committee (FOMC) Meeting Minutes from the Novemeber meeting.
The US Dollar Index has exhibited a bullish bias, driven by strong economic data and a less dovish Federal Reserve (Fed) stance. Despite recent pullbacks due to profit-taking and geopolitical uncertainty, the uptrend remains intact. Technical indicators suggest potential consolidation with overbought conditions easing.
DXY Long-Term Bearish OutlookThe price has been moving within a diagonal channel since 2009, completing five waves. We anticipate that the price has been forming a corrective structure following the downward movement in October 2022.
Currently, the price may be forming Wave c of Wave (B), after which we could see a decline toward 97.81 "Wave (C)", potentially testing the lower boundary of the diagonal channel.
"DXY Technical Analysis - Bearish Correction with Potential Rebo"DXY Technical Analysis - Bearish Correction with Potential Rebound"
"The US Dollar Index (DXY) on the 4-hour timeframe has entered a bearish correction after breaking a local high. Key support levels at 106.064 and the demand zone at 104.625 are critical for potential price reactions. If the price reaches these levels, a rebound toward the resistance at 107.348 could be expected. Please note that this analysis is for educational and informational purposes only and does not constitute financial advice."
This ensures a professional and clear message for a TradingView audience.
DXY potentially headed lower in coming monthsSelf explanatory.
Very long term USD bullish but in coming months potential to see a 10% pullback in the USD.
DXY - Pattern on going What do you think about this head and shoulders?
Will be completed or not? in case we will go to 0,36 fibo rebound
DXY bearish scenarioThe dollar index remains under pressure below 107.00. The 106.00 level supports the index, and we need a break below to continue on the bearish side. 105.00 level is the next target.
US October PCE Price Index PreviewToday, Australian CPI inflation numbers (Consumer Price Index) have already been seen, and the Reserve Bank of New Zealand has announced a 50-basis point (bp) cut during Asia Pac trading. In addition to Q3 24 US GDP (Gross Domestic Product) data coming in unchanged, the October US PCE price index (Personal Consumption Expenditures) will hit the wires at 3:00 pm GMT and is forecast to have risen on a YY basis (year on year).
PCE Data Expected to Report Higher Numbers
Market expectations, according to Refinitiv data, suggest YY headline and core (excludes volatile food and energy prices) US PCE data has risen to 2.3% (from 2.1% in September) and 2.8% (from 2.7%), in October, respectively. Additionally, the October Personal Income and Outlays report is anticipated to show a 0.4% gain in personal income compared to 0.3% in September. This may seem surprising in light of the miserable jobs report we just had in October, though we must remember that wage growth has indeed increased.
Rate Cut Still Likely in December
PCE data are closely monitored by the US Federal Reserve (Fed) and is their preferred measure of inflation. The Fed works to an inflation target of 2.0%, and assuming a higher PCE print today, this may be a little too hot for comfort and could prompt the central bank to consider hitting the pause button next month. We also have to remember that Fed Chair Jerome Powell stated that the central bank is not in any rush to cut rates while other Fed members have emphasised caution regarding easing policy too fast.
In my humble opinion, however, today’s PCE data is unlikely to prompt a pause from the Fed in December. Still, I feel we are now approaching a stage of a potentially shallower easing cycle, given inflation remains stubbornly north of the Fed’s inflation target. That said, should higher-than-expected jobs data be received next week, this could boost the chances of a rate hold next month and will likely underpin the US dollar (USD). Money markets are pricing in around 15 bps of easing for the December meeting (investors are assigning a 55% chance that the Fed will cut rates by 25 bps next month over a 45% probability they hold).
Seeing as both CPI and PPI (Producer Price Index) inflation numbers have already been released for October, these data help calculate the PCE figures. You will likely recall CPI inflation data came in line with economists’ estimates; however, YY headline inflation rose to 2.6% in October, increasing from September’s rate of 2.4% and marking the first upward shift since March. The largest upward contributor to CPI inflation was housing – more than half of the rise was down rising prices in housing – with food prices also rising in October. PPI inflation also increased across headline and core measures in October to 2.4% (from 1.9% in September) and 3.1% (from 2.9% in September).
While both the CPI and PCE Indexes attempt to measure consumer prices by tracking changes in the prices of a specific basket of goods and services each month, the CPI assigns a far greater weighting to shelter than the PCE Index does, which highlights that the PCE data could still fail to reach estimates.
Dollar Index Fading Range Resistance
As shown from the daily timeframe of the US Dollar (USD) Index, price action is fading quite a substantial range resistance from 107.21. This is a level the FP Markets Research Team have been watching closely for a while now, as a breakout from here could send the Index towards monthly resistance at 109.33.
However, a daily support area between 106.13 and 106.50 is currently in play, which could, given the room to run for monthly resistance, pose a problem for USD sellers.
Written by FP Markets Market Analyst Aaron Hill
DXY - Correction in ProgressWe analysed DXY / Dollar few days back and it was highlighting a Bearish move. This move is in progress and so far we have a Correction Wave A & B completed. Correction Wave C might take dollar even lower depending on macro outlook i.e. ceasefire deal / Fed rate decision etc.
Best approach is to go from level to level rather than aiming for a swing move as sentiments can switch anytime.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
USDX: Trend in 2H time frameThe color levels are very accurate levels of support and resistance in different time frames, and we have to wait for their reaction in these areas.
So, Please pay special attention to the very accurate trend, colored levels, and you must know that SETUP is very sensitive.
BEST,
MT
Dollar Down and Crypto PumpsHoping for DXY to drop down to the lower range and allow liquidity to keep flowing into crypto so we can keep pumping. Also watching BTC.D closely, if this breaks down and makes a new lower low then we can say with a lot more probability that Altcoin Season or Alt season is truely upon us.
Lets watch and wait! I am in a few positions, XRP/DOGE/VIRTUALS ready for the action.
Not financial advice, lots of volatility and risk out there, watch out for the bulls too.
