possibility of uptrendAs long as the index fluctuates above the support range, the upward trend is likely to continue.
Otherwise, the downward trend will be possible to the previous floor range
DXY trade ideas
DXY Price Action2 conditions to make this happen:
1. If Dollar closes November 4th week an inside candle as seen here,
2. If Dollar gives a bearish 4H Market Structure Break from the weekly FVG retested above
Bullish bounce?US Dollar Index (DXY) is reacting on the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as a pullback resistance.
Pivot: 104.41
1st Support: 103.87
1st Resistance: 105.26
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
dxyThe U.S. Dollar Index (DXY) is a measure of the U.S. dollar's value against a weighted basket of six major foreign currencies. The euro has the largest weight at 57.6%, followed by the Japanese yen (13.6%), British pound (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%), and Swiss franc (3.6%). Created in 1973 after the Bretton Woods system's collapse, the DXY helps traders and investors track the dollar's overall strength in international markets. When the index rises, it means the dollar is strengthening against these currencies, while a falling DXY indicates dollar weakness. Many factors influence the DXY, including U.S. monetary policy, interest rates, economic indicators, and global market sentiment.
Bearish DXY Trade Idea (High Time Frame)With the U.S. dollar showing signs of a potential high-timeframe trend reversal, a bearish outlook on DXY may be forming as broader macroeconomic factors weigh on the dollar’s strength. The 0.25% rate cut, combined with slightly softer economic data, could erode the dollar's current resilience and encourage further selling pressure.
King Dollar is Back!DXY surged this week, bolstered by strong U.S. economic data.
Durable Goods Orders for July spiked by 9.9%, far exceeding expectations, while Q2 GDP growth was revised up to 3.0%, indicating robust economic activity. The labor market remained stable with Initial Jobless Claims slightly below forecasts and Continuing Claims steady.
On the downside, the housing market showed weakness, with Pending Home Sales dropping by 5.5%, reflecting challenges in that sector. Despite this, the overall data supports a bullish outlook for the dollar.
As we approach the next trading week, key support levels like 101.00-101.50 and last week’s highs will be critical areas to watch for potential long entries.
DXY 15M Gap Close Trade IdeaBased on recent price action, I anticipate the market will move to close this gap. The gap close would align with typical liquidity-seeking behavior, as the market tests previous levels to confirm sentiment. Watching for confirmation near key intraday levels before positioning further.
DXY: Strong Bullish Bias! Buy!
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 upside. So we are locally bullish biased and the target for the long trade is 104.767
Wish you good luck in trading to you all!
Dollar index remains under 105.00The dollar index has been losing its previous bullish momentum for a couple of days now, encountering resistance in the 104.50-104.70 zone. This resistance coincides with the resistance from the end of July.
From this morning, we see a pullback to the 104.00 level and a hint of a turn to the bearish side. The first target is the EMA 200 daily at 103.40. If the support is not enough, the index could continue up to 102.00.
Maybe this pullback will be short-lived, and we will see a return to the bullish side again. We will be looking at a jump from 105.00 to a new four-month high.
Dollar path moving forwardDollar path moving forward. Last time Trump won this is what Dollar did. I expect the same.
DXYWe might have to amend my DXY strength bias as it was flawed because I did not take into account FOMC tonight. With expected rate cuts of 25 bips we might observe USD weaken. With DXY already near R1, we might observe USD weak today. two conflicting events happening simultaneously.
1. expected results of Trump's future policy
vs
2. 92% chance of a 25 bips rate cut tonight.
that will be interesting to watch how this plays out in coming weeks.
Bearish drop?US Dollar Index (DXY) has reacted off the pivot which aligns with the 161.8% Fibonacci extension and could drop to the 1st support which acts as a pullback support.
Pivot: 105.42
1st Support: 104.65
1st Resistance: 106.13
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
$DXY last gasp before the monetary reset. Sad.3-3-5 watching the expected rejection at the median line of the channel probably before pivoting and falling out the bottom. Sad times for many..
U.S. Dollar IndexHello everyone,
A quick look at the DXY index.
I had fun drawing a Fibonacci retracement, we can see that the levels are well respected.
It's up to you to agree, but the graph is there.
Make your own opinion, before placing an order.
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Dollar Index Bullish to $109! (UPDATE)Huge, huge bullish momentum for the Dollar right now. On market open last night, price gapped up so that gap is one thing I will be careful with just in case price action wants to fill it in at a later date.
For now the DXY remains extremely bullish!
#DXY #trading #AnalysisDXY WILL GO lower from Resistance sell
please check our tecchnical outlook for dxy
The marketis testing a major horizontal stucture 105
taking into consideration the structure and trend line analysis i believe that the market will reach 103
How the U.S. Election Outcome Could Shape DXY's pathHey Traders!
In today’s trading session, we’re closely watching the DXY for a potential buying opportunity around the 102.800 zone. Recently, DXY has been trending downward but managed to break out of that downtrend, signaling a possible shift in momentum. Right now, it’s in a corrective phase and approaching the retracement level near the 102.800 support and resistance zone.
Fundamental Analysis: U.S. Election Impact on the Dollar
Today’s election could significantly impact the U.S. dollar, with the outcome likely to shape future economic policies. Here’s how each candidate’s policies might influence DXY:
If Trump Wins:
A Trump victory is expected to strengthen the dollar. Here’s why:
Higher Inflation and Interest Rates: Trump’s policies, including potential tariffs and stricter immigration, are seen as inflationary. Tariffs can increase the cost of imported goods, while reduced immigration may create labor shortages, both driving inflation higher.
Federal Reserve’s Stance: Higher inflation would prompt the Fed to reconsider future rate cuts and possibly lean toward raising rates to control inflation. Higher interest rates make the dollar more attractive, as investors seek better returns.
Tax Cuts and Economic Boost: Trump’s proposed tax cuts are likely to stimulate economic growth in the short term. A booming economy typically supports a stronger dollar as investors favor a robust market.
In this scenario, DXY would likely respond positively, and we could see a strong upward movement.
If Harris Wins:
On the other hand, a Harris victory could weaken the dollar due to different policy priorities:
Lower Inflation and More Fed Flexibility: Harris’s policies are expected to focus more on economic support, potentially through spending programs and fewer tariffs. Lower inflationary pressure gives the Fed more room to keep rates low or even consider cuts.
Market Reaction: Investors may anticipate a slower economic rebound, favoring a weaker dollar, as demand for safe-haven assets like the dollar could decrease.
Your vote is very important!
Joe.
top on the us dollar? Dollar has hit upside targets and possibly completed a B wave ... Lets see if we get the impulse down in a c wave toward 90
Dollar To The ''MOON''Price came in extremly bullish on dollar after the US elections. We expected this as we had previously drawn out that target. I still expect dollar to move higher and grab more liquidity but maybe after a retrace. Keep in mind there is FOMC tomorrow so trade lightly.
DXY is bullishDXY is temporarily bullish and wants to test its upper trendline once again
upon testing trendline DXY will decide which way to go according to its pattern
pls follow to see the result
