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DX1! trade ideas

Elliott Wave View: Dollar Index Correction In ProgressShort Term Elliott Wave structure in Dollar Index (DXY) suggests the decline to 89.209 on January 6 low ended wave (3). Wave (4) bounce is currently in progress and the Index shows an incomplete 5 swing sequence from January 6 low, favoring more upside. Internal of wave (4) is unfolding as a double three WXY Elliott Wave structure. Up from wave (3) low at 89.209, wave ((a)) ended at 90.13 and pullback in wave ((b)) ended at 89.66. Index then resumed higher to 90.728 to end wave ((c)). This move higher also completed wave W in higher degree. The Index then corrected in wave X as a zigzag. Down from wave W, wave ((a)) ended at 90.3, wave ((b)) ended at 90.55, and wave ((c)) ended at 89.932. This completed wave X. Index then resumed higher in wave Y, with internal subdivision of another double three in lesser degree. Up from wave X, wave ((w)) ended at 90.95. Pullback in wave ((x)) is in progress and expected to hold above wave X low at 89.93 for further upside. Potential target higher is 100% – 161.8% Fibonacci extension from wave (3) low which comes at 91.43 – 92.37 area where sellers should appear for 3 waves pullback at least.
ICEUS:DX1!
by Elliottwave-Forecast
1
The USD rising again !Two weeks ago, the USD was seen to obviously be in a bullish divergence and was squeezing to burst up. On Friday, it just did that... so to demonstrate the daily chart would be used instead. The USD (no surprise here) popped up on Thursday and Friday. On Thursday, the USD index bounced off the descending wedge support and Friday's candlestick was a Gap Up, breaking out of a downtrend line. Technicals support this move as MACD crossed up, while the Price Momentum crossed over into the bullish zone, as marked by the green time line. Quite clear technical bounce observed here. Now to see if it is sustainable or trend changing. Btw... I'm a little cautious on seeing this chart. Because, in order for the USD index to rally really hard, and breakout of the descending wedge from this point, some pretty devastating event needs to happen. Nothing in plain sight, except for the US President handover, the alarming COVID-19 spread and massacre. Something major is brewing...
ICEUS:DX1!
by Auguraltrader
2
DXY (Dollar Index) Long term movement prediction for 2021DXY / DX1! / FX:USDOLLAR / Dollar Index is searching for liquidity, bouncing up and down in the process. This is my long term prediction on how it could move - given no major economic shifts. Option 1 DXY breaks below the Q1 2018 lows, collects liquidity It then runs up to fill in the fair value gap from Q3 2020 It then falls down and get rejected from Q3 2014 lows as those trapped shorts exit - creating a rally It then falls down again below Q3 2014 lows to collect liquidity Heads back up again in search of liquidity Option 2 DXY creates a short term low just before Q1 2018 liquidity run, so that it can trap even more traders It then runs up to fill in the fair value gap from Q3 2020 It then falls down, collects the liquidity below Q1 2018 lows Get rejected from Q3 2014 lows as those trapped shorts exit - creating a rally It then falls down again below Q3 2014 lows to collect liquidity Heads back up again in search of liquidity
ICEUS:DX1!
by makuchaku
Trend Analysis US Dollar & the Clintonomic1. Joe Biden will assume the office of US Presidency on 20 Jan 2021 and this will be the most closely watched event as his presidential speech will move the world around. 2. History will repeat itself and highly likely Biden's economic policies will mirror Clintonomic (20 Jan 2021 - 20 Jan 2001). 3. During this period, US currency was trading astronomically bullish against major currencies. 4. As oil price is negatively correlated to US currency so during this period it was a slowing moving object but the most major factor was due to lack of geopolitical risk as Clinton was not interested in missile warhead and he was famously said that "it is the economy, stxxxd..." 5. If history were to repeat itself again, Biden will press down the oil price , cold start US economy, push up US currency and US stock market . 6. US will be back to the open door policy and back to the central of the world stage one more time and may see the sudden end of US-China cold war (military and trade as Clintonomic will cut military budget and save the money for local economy and weather protection) and a strong US economy will need to buy more cost effective manufactured goods from China and China will in turn be buying more US bond and that will help to propel US dollar to higher level. www.investopedia.com
ICEUS:DX1!Long
by Yang358
5
Time for the USD to rise again... The USD has been falling significantly, and is now bullishly divergent in technical terms with relation to the MACD and the Relative Price Momentum. an early attempt was just made, and despite a hasty retreat, this may be forming the consolidative base before a breakout rally ensues. This appears in line to expectations that the S&P500 is due for a pullback on bearish divergence, Gold having a suspicious type of short term rally, and Bitcoin pulling back slightly.
ICEUS:DX1!
by Auguraltrader