Dxy 1 day😭up
Hi my entourage... Note that if the upper yellow line is broken and Polbeck goes back on it, we'll see a temporary start to the growth for the dollar, and bitcoin and gold fallout that I'll analyze for you
DX1! trade ideas
DOLLAR TRADES AT KEY SUPPORT LEVELThe United States Dollar Index broke out of the short term support region and fell to 101.785 region as per what we have analyzed in the previous week.
We can see that momentum is extended from the initial reversal from the 105.575 resistance region all the way to 102.77 where the Dollar then trading in a lower time frame consolidation. Price fail to push higher when the previous support (now resistance) at 103.225 turns price away.
Extending out the view on the Dollar, we can see that price is now at key support area, Any indication of reversal or reversal confirmations may give Dollar its needed retracement.
SELLERS REMAIN IN CONTROL as the USD gets pressuredThe United States Dollar Index broker out of the range last week and pushed towards 105.575 as expected.
However, price quickly reversed from the resistance zone and fell back to the range.
Seller remains in control over the Dollar and only by breaking out of 105.575 resistance region can we see more potential for upside. For downside opportunity, a breakout of the 103.225 can push the dollar towards 101.785 region.
DXY Seasonals & Technicals In PlayIn this update we review the recent price action in the Dollar Index and identify the next high probability trading opportunity and price objectives to target
Yellow Gold Rises (Then Falls) (Then Rises Again)As mentioned in my last idea on the subject, Gold is poised to rise dramatically in 2023 due to an upcoming liquidity event.
Gold is a useful coincident indicator when used in conjunction with the USD.
When Gold/USD are negatively correlated, it generally means there's a loosening of financial conditions for whatever reason (e.g., central banks selling dollars to buy gold, credit becoming more available, government sending cheques).
When Gold/USD are positively correlated, it generally means there's a tightening of financial conditions due to uncertainty in the monetary system (e.g., flight to safety, store of value).
What are the charts suggesting now?
First, the dollar has been rising fast and hard since Q2 2021 up +28% in more than a year. It then reversed course in Q4 2022 falling -10%.
This is not at all unusual. Often the dollar falls in Q4 due to seasonal market dynamics. And when it does, it then retraces the entire drop and more in Q1.
As you might imagine, that could be hard on liquidity sensitive assets. Yet gold is interesting in this regard. If the liquidity shock is presaging something more nefarious, such as a global event or credit crisis, then Gold's fall pivots on a dime and the price rockets upwards.
So these are the warning signs I'd be watching for:
A sharp bounce in the DXY here (or as low as 97)
A pullback on Gold to $1,730 (or as low as $1,510)
A pivot in Gold so it rises with DXY
Seeing this play out means that Gold is going to new highs... and that we're in a recession that gets deeper and more painful as the dollar rises.
DXY outlook for 2023.DXY is the talk of 2022. The index of the Dollar had a massive bull run, followed by the decline of other assets and currencies around the globe. The rise of DXY came from FED's hawkish policy and indecisive actions from other central banks.
For now, DXY strength seemingly declined, as most eyes are looking into cheap assets to buy. However, DXY will have a bounce to at least 109-110 zone in 2023. FEDs will decide on any movement after that. And if we are right, it will be a life-changing opportunity to buy assets for the next 10 years.
Breakout confirmation of the Dollar will be HUGEThe United States Dollar Index continues to trade with in the range but failed to trade above the 50 exponential moving average (EMA) and ended off the week at the low of the range.
Breaking out of the 104.734 resistance can bring more strength to the dollar but if price were to fall below the recent low, the bullish trend of the Dollar will cease.
short xausd into 1760 dxy will fly i think we should reversal here
because of
50 pull back
parabolic wedge
broad ch w so it was minor reversal
and its DB with last Support ?
Dollar remains resilientThe United States Dollar Index continues to trade in consolidation but due to time factor, price is now trading above the descending trend line with the 50 period exponential moving average (EMA) as the next form of resistance.
We will reiterate that even though the Dollar is trading below the 105.0 key level, price is still trading relatively close to the level. Upside potential is still possible if the Dollar managed to trade above the 105.00.
US DOLLAR INDEX FUTURES Hello ladies and gentlemen according to my chart analysis of the US DOLLAR INDEX FUTURES, there is a high probability of a decline towards the levels of 91.0000 that we have se before in (2018-2019) we will see that level again with high probability based on my analysis in the next few months or why not next year.
DX (MN1) Long TermI remind you that this is a Long Term analysis.
As per previous analysis, the 101 / 102 zone was a decision point.
USD continued to appreciate up to 114, right now we are seeing a FIb retracement at 0.618.
The outlook is for a rise to 121,000 as occurred in 2002. This analysis is in line with EURUSD down at 0.87700.
What is US dollar index (DXY)? Dollar Index History
DXY began in March 1973, shortly after the Bretton Woods system collapsed. Initially, the value of the US Dollar Index was set at 100,000. Since then, the index has peaked at 164.7200 in February 1985 and hit a low of 70,698 on March 16, 2008, and is currently trading at 103.715.
The arrangement of the "basket" took place only once, at the beginning of 1999, when the euro included several currencies. The arrangement of the "basket" does not yet include countries with high trade volumes, such as China, Mexico, South Korea and Brazil. On the other hand, although Sweden and Switzerland do not have large trade volumes, they continue to be included in the index.
What is the Dollar Index?
The US Dollar Index (USDX, DXY) is an indicator of the value of the US Dollar against foreign currencies. It is also referred to as a money basket by US trading partners. The index is designed, maintained, and published by ICE Futures and. It is also registered with the name "U.S Dollar Index".
How Is The Dollar Index Calculated?
The dollar index is calculated by the weighted geometric average of the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
✅Euro (EUR)= 57.6% by weight
✅Japanese Yen (JPY) = 13.6 weight
✅British Pound (GBP) = 11.9% by weight
✅Canadian Dollar (CAD) = 9.1% by weight
✅Swedish Krona (SEK) = 4.2% by weight
✅Swiss Franc (CHF) = 3.6% by weight
Its formula is:
DXY = 50.14348112 × EURUSD -0.576 × USDJPY 0.136 × GBPUSD -0.119 × USDCAD 0.091 × USDSEK 0.042 × USDCHF 0.036
Why Dollar Index Increases?
👉🏻Every move that will strengthen the dollar in the United States, decrease in unemployment, positive employment data, high growth figures
👉🏻The depreciation of the local currencies of the six main countries included in the DXY
Why Is The Dollar Index Declining?
👉🏻Data that will cause the dollar to depreciate in the United States, growth figures below expectations, unemployment rates higher than expected
👉🏻Strengthening of the economies of the six main countries in DXY, appreciation of their local currencies
DXY is updated as long as the USD market is open. DXY can be traded as a futures contract on the ICE exchange. It is also available in exchange-traded funds (ETFs), options, and mutual funds.
dxyDollar is bearish. It looks a lot like the dollar is leaving its bigger uptrend its moving in since early this year. I highlited the potential trend lines and significant price marks i will keep an eye on in this scenario.
This downbreak move would come along with a bullish EUR and bullish stocks.
DXY 102.80's Target Hit, What Next?In this update we review the recent price action in the Dollar Index and. identify the next high probability trading opportunity and price objectives to target
Dollar still trading near key levelThe United States Dollar Index although recovered some of its losses, is still below the descending trend line.
Even though the Dollar is trading below the 105.0 key level, price is still trading relatively close to the level.
Upside potential is still possible if the Dollar managed to trade above the 105.00, invalidating the descending trend line and shifting the 105.00 level from resistance back to support level.
LOOKS LIKE BULLISH STRONGER as shown on the chart we have very strong resistance levels front for the price
once it can close above them will open the way to retest the above resistance as shown on the chart
once we got weak signal and rejection thats mean we back to support levels below
wish you happy trade
DXY - What's next! DXY - What's next!
$DXY - We are within the ranges of lows: 103 1/2 areas highs: 105 3/4 areas
A break above or break below.
Trade Journal
US DollarUS Dollar - Continuous Weekly: Looking for support in the 102 to 103 area. Still unsure if this potential low would be for a bear market rally or a swing low for a correction move in and continue up in the bull market
DXY Action Areas Ahead Of CPI & FOMCIn this update we review the recent price action in the DXY and identify pivotal trade locations and price objectives to target
dxy, 12-12 updategood evenin',
wasn't too long ago when i called the top on the dxy.
all the dxy bull bro's were like, no way man its going to go up forever.
>okkk boomer, 😏
---
so here's my take on what comes next.
theorizing a bit into the future here-
idea goes like: we correct down in 3 waves, then put in an equal sized leg to the upside into the 120~130 region in
---
original post:
Dollar hanging onto key levelThe United States Dollar Index managed to not develop new low this week as it trades in consolidation at 105 key region.
However, downside momentum seem to limited as 50 exponential moving average has multiple contact within a short period.
We may potentially see upside movement of the Dollar potentially towards the 107.155 resistance region.
However, if the Dollar Index is to make a new low, we will have a bearish confirmation of the Dollar.
US Dollar Produces Textbook Chart Pattern!The Dollar Index was contained inside an area of consolidation from January 2017
to June 2022 before finally breaking out to the upside above $103.
Price had a clean run producing strong bullish candles through to September 2022,
moving from $103 to $114.
Exhaustion then crept into this asset, causing a decline in price, which was to be
expected based on its history of deep pullbacks against the flow of the trend.
We are currently seeing a textbook pattern where price breaks out of consolidation
and retests the consolidation area.
If this unfolds as expected, we should see a bounce from support and a resumption
of the prior bullish move.
At the time of writing, December’s candle is displaying as an indecision candle,
but as we are early in the month, the shape of the candle is likely to change.
If price moves up again, we will likely see volatility flow into a number of forex pairs
producing opportunities to open positions in this market.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
DXY 104.40 Target Achieved New Pattern EmergingIN this update we review the recent price action in the DXY futures contract and identify the next high probability trading opportunity and price objectives to target
