US Dollar Index FuturesUS Dollar Index Futures - Starting to look a bit toppy showing bearish daily divergence. Currently trading inside parallel channel.
SDX1! trade ideas
USD Head and Shoulders SetupThe USD is creating a H&S for December. Next downside target S1 at 95.160, then possible rise back to pivot at 96.115
Huge potential upside for the U.S dollarThis is a compliment to my analysis for Gold.
As I said before , I will also post the monthly cycle analysis for both gold and the U.S dollar.
I see the dollar reaching quite easily the 116 level which is the 1.618 extension on the 2M monthly . Thats a super super bullish chart.
You can't make these things up . I mean you see primary bullish momentum on monthly weekly and daily .
I don't understand how can someone short this thing ? I really don't know. Unless you are trading for a few days or scalping .
I won't post the euro chart , but the euro/usd will soon go to par . Analysts were talking about par 1 year ago , as always timing is everything .
This moment has come in my opinion now.
7-8 weeks upside for the dollar maybe test the 96-97 level , downside for the gold and then starting next year , we have to wait and see what gold can do .
The past 7 years gold always rallies in the beginning of the year . It will be an interesting year.
However charts don't lie and gold is in big big trouble while dollar has huge upside potential.
US Dollar Index FuturesUS Dollar Index Futures: The recent price tick-up (since 30-Aug) appears very similar to the move from 27-Nov-2017 to 11-Dec-2017 - marked with blue arrows. Remember, specs are quite long the greenback. Expecting a weaker USD.
DX USD potential rise in strengthDX on support, if it rises above 95 on daily chart it could easily continue its journey up
General USD strength still preferred
Dollar Index approaching a possible topMy yearly composite cycles on the Dollar Index points to a possible high around the 28th August - early September. I would suspect that price may even reach the 0.618% Fib retracement around the 98.000 level before a possible decline. The cycle suggests that price may trade lower until early December.
If price does make it that high and technicals point to a possible reversal, it may be time to buy some puts! It would be interesting to see how everything plays out.
Regards
RigK
When Price Breaks Resistance of A Rising WedgeThere is time to follow the trend or patterns and indicators or a combination thereof. Each trade is specific to that and then there are those traders who do not use any of those things. Happy trading.
