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U.S. Dollar Index Futures

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DX1! trade ideas

If Biden wins, that will mark a bottom in the dollar.Look at history. Since President Reagan, Republicans have been mercantilist and punish the dollar to benefit the big asset owners and exporters (of both goods and jobs). The dollar has firmed under Democrats who try to preserve the purchasing power of the broader public. If Joe Biden becomes President, expect a bottom in the dollar relatively quickly and for it to be range bound with an upward bias during his Presidency. Due to fiscal programs and better trade relations with allies, we'd see higher growth rates and a slight widening of the middle class again. Should President Trump win, expect the dollar to get pummeled, for inflation to rise and for growth to stay flat. Under a second Trump term, I'd expect a period of stagflationary recession that could last for years. Frankly, I believe the next impeachment attempt would be successful as frustrated Republicans roll over on Trump. Place your currency bets accordingly in coming months. The election matters.
ICEUS:DX2!
by Kirk_Spano
Yellen’s new appointment and future of American DollarDollar bears love hearing that Joe Biden (if and when he takes control of the White House) will appoint Janet Yellen as the next Treasury secretary, making Yellen the first woman to hold the position. Traders see Yellen as a "dove", meaning she should be very accommodative and a strong proponent of rates staying lower for longer. Also, since she was formerly the Fed Chair and leader for the Council of Economic Advisors she will create a strong working relationship across the financial industry. Perhaps more than anything the market fully understands how Yellen communicates and views the economy. Remember, Yellen was Vice Chair under Fed Chair Ben Bernanke, during which they navigated the economy through the 2008 financial crisis. As Fed Chair, she maintained the Fed's ultra-low rate policy well into 2015 and presided over a period of tremendous job growth. Keep in mind, the head of the Treasury is typically the one negotiating with Congress on behalf of the White House, so it's seen as one of the most critical roles right now. Let's also not forget we have some serious political uncertainty still in the mix during the next 45-days. with the run-off Senate election in Georgia, and the ongoing debates and recounts surrounding the Presidential debates. This week we are waiting for Retail sales, the Empire State and Philadelphia Fed manufacturing surveys. Negative numbers plus virus cases rise, and lockdown fears may bring the dollar to new lows. With all that in mind, I want to focus on the monthly chart of the American dollar. It has a flagging pattern similar to the one we saw in 2017. Taking into account all the fundamentals, there is a big chance to see another breakdown in a long-term perspective. However, we are getting close to the end of the year, and the risk of potential massive profit booking is increasing. Closing of big positions may result in a rally to 96 range. I believe the 4h chart is the best option to focus on.
ICEUS:DX1!
by UnknownUnicorn1156963
6
Multi symbol analysis (weekly) : DXY seems to be moving lower!Now that the US elections are behind us, all the intentions of the weekly chart of US DOLLAR / DXY seem as if it's going to move lower! It is forming bearish order blocks (on Weekly), trapping longs all along the way since March 2020 & also there are a bunch of shorts trapped from April 2018 timeframe that would love an exit. Till price action reaches those zones, DXY is heading lower! What this means? USDXXX pairs to move lower XXXUSD pairs to move higher Equity to head higher Another reason DXY could head lower is if more stimulus gets announced for the US economy. I'll add more evidence from other forex pairs about why I think this move could be verified. PS : Another way DXY could move is in a consolidation - as below the current price, we have unidirectional price movement from Apr 2018 timeframe - which could counteract lower movement.
ICEUS:DX1!Short
by makuchaku
DXY (Dollar Index) 4H : Trapped buyers waiting to exit : SHORTTrade setup DXY (Dollar index) has trapped buyers at the top. When price comes back to this zone, they'd love an exit - giving us a short trade in the process. Risk management 1) Reduce 50% at 1R => Trade becomes risk free 2) Reduce further 25% at 2R AND move SL to break-even 3) Close trade at 3R 4) Winner = 1.75R Strategy Pickup a pair which is highly correlated to DXY (if trading DXY, ignore the correlation part) AND Wait for market structure to break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders AND Liquidity in form of equal highs/lows should not be present behind the stop loss AND Since the pair is highly correlated to DXY , the formation of HH/LL in DXY should support the trade's direction at the time of zone's formation
ICEUS:DX1!Short
by makuchaku
Dollar Inverted Head and Shoulders into Possible Cup & HandleHere we have several bull patterns on the dollar futures. First we established and broke out of a bull pennant, Then we moved onto another bullish pattern, inverted head and shoulders, and now we've developed a cup. Is this a handle that formed on the cup? Whichever way you look at it, this is very bullish price action on the dollar. What I'm looking for is the price to break through resistance and into the blue channel while flipping the resistance into support and ultimately capturing the top of the blue channel. ICEUS:DXY
ICEUS:DX1!Long
by jakelikesstocks