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U.S. Dollar Currency Index

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DXY trade ideas

DXY - Reaching potential turning pointThe DXY has swung up from it's lows with a classic type 1 reaction and a dragon pattern at a key support that has held for the past two years. We have a bearish bias towards the DXY and here is why: - Distribution pattern for over a year. - Lower Highs and Lower Lows. - General US Dollar Policy. - Current bullish state of stock and crypto markets implying a weakening dollar. So now in terms of the current chart and understanding where it could turn. For the past two years we have an impeccable record against the DXY, telling where it could and has bottomed or where it could and has topped. Now, traditional technical analysis suggests a less convincing but still valuable bearish outlook on it. Here it is: - Minor resistance just above. - Completing the bearish 5-0 of this harmonic (We know XB is short of the required 0.786, we're choosing to value it the same). - Straight reaction to T1 from the harmonic, no sign of accumulation bottom or deep retracement to capture value. Usually signifies an impulse move before at least a retracement to backtest the pcz and put in a higher/ same low. - Strong Bearish Divergence on all the oscillators. With these factors we are looking for the DXY to turn soon, the bearish 5-0 target would be a great point to do so but it could yet push higher. The overall purpose of this post is to showcase that the DXY is still bearish although recent strength. The market is still bullish and could become even more so in the coming weeks/months.
TVC:DXYShort
by SynergyTradingSetups
US DOLLAR what are you doing my G!Hi everyone! I personally think that TVC:DXY is overextended, because I believe in statical standard deviations + time, there is sound math behind it. However also the market is so hard because it can do whatever it wants sometimes, like now... lol. And Me personally I have been looking for a pullback, a small one at least, and since the markets are really moved by the huge money, I have a feeling there will be a fast and sharp pullback down, and if this is truly a bullish reversal, it will hold around the break area. And MAYBE, I want to say like 50-60% chance, it was continue rising from there, but we are not god, so we need to see what the next days will tell. Thank you.
TVC:DXYShort
by ChameleonInvestments
#DXY following days analysisHere’s what we could expect from DXY in the coming days: This extended bullish move is likely wave A of an ABC corrective structure to complete wave 4. Given the clear bearish divergence between price and the oscillator, we are likely nearing the top of wave A. From here, we could see a bearish move, which would be corrective in nature and related to the higher degree trend. However, this phase might be tricky for short-term traders as it could be choppy and manipulative. Following this, we can expect another bullish leg to complete wave C of the ABC pattern. Let’s see how DXY develops in the coming days.
TVC:DXY
by mohemati
1
DXY Rebounding on the 1M MA50. But for how long?The U.S. Dollar index (DXY) is on a strong green 1M candle, already halfway through the month of October, as it is rebounding after making an exact test of the 1M MA50 (blue trend-line), the long-term Support. On this chart we can see the DXY's multi-year price action. Even though it was on a heavy downtrend since the February 1985 High, it managed to break above it in January 2015 and sustain a strong Channel Up, coming off the March 2008 bottom of the disastrous Housing Crisis. Within this strong Channel Up, we see a repeated pattern as long as Bullish and Bearish Legs are concerned. As you can see, the bottoms have been formed significantly below the 1M MA50, so this indicates that it is not time to buy yet. If anything, a controlled short is justified and as we get closer to the bottom of the Channel Up, start buying on a multi-year basis (as long as the 1M MA200 (orang trend-line) holds). Based on the 1M RSI, where the similarities with the previous Leg are more obvious, we should be around levels similar to October 2017, so starting next month or December, we should start resuming the downtrend and a 'modest' level to target is 97.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DXY
by TradingShot
DXY Technical Analysis – Week of October 14-18, 2024Overview: The Dollar Index (DXY) recently tested a significant resistance level at 102.00, which has proven to be a critical zone in the past, acting as both support and resistance. This rejection signals potential weakness in the dollar and suggests that the bears may take control in the short term. 1.Resistance at 102.00: The 102.00 level has proven to be a strong resistance zone in the past, where the DXY had previously consolidated before a breakdown. The price attempted to push above this level but was swiftly rejected, signaling that sellers have defended this area. This zone also coincides with historical support-turned-resistance, making it a critical price point. 2. Bearish Outlook for the Week: Given the rejection off 102.00, the DXY is likely to experience further downside pressure in the short term. I’m favoring a bearish outlook for the dollar this week, with the expectation of a retracement back towards the key psychological level of 100.00. This level not only holds psychological significance but also aligns with horizontal support from previous price structures. 3. Potential Target – 100.00: The 100.00 mark represents a major confluence zone where the price may find buyers stepping back in. This area has historically acted as a solid support and is likely to attract attention from market participants, making it a key target for short positions. A breakdown below 100.00 could trigger further downside momentum, potentially extending towards 98.60, which is another significant support zone visible on the chart. 4. Trendline & Long-Term Perspective: The chart shows a longer-term upward trendline that has yet to be retested. Should the DXY continue its decline, a bounce off the trendline could be possible. However, if momentum accelerates to the downside, it’s worth noting that a break below 100.00 might lead to a deeper correction, potentially retesting lower support levels, such as 98.60. 5. Momentum & Confirmation: From a technical standpoint, it’s important to watch for confirmation from momentum like Bearish engulfing, which we already have an evening star. If we see bearish divergence or continued rejection of the 102.00 level, it will further support the bearish thesis. Additionally, a break below 101.00 could confirm the continuation of the bearish trend for the week ahead. Conclusion: The Dollar Index appears to be forming a bearish structure, with the 102.00 level acting as a strong resistance. My bias for the week favors short positions, targeting a retracement to the 100.00 level. This outlook is contingent upon continued rejection of the 102.00 level and potential follow-through below 101.00. Traders should remain cautious and wait for further confirmation from their startegies and price action before committing to positions.
CAPITALCOM:DXYShort
by eddychuksuniversity
DXY Is Very Bullish! Long! Please, check our technical outlook for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 102.912. Taking into consideration the structure & trend analysis, I believe that the market will reach 104.409 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYLong
by SignalProvider
1
USD moved up with upside bias last week,but not a lot..what now?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Last week, we mentioned that likely USD has more upside. It did climb higher and i did have some longs on Usdjpy and it was decent. Current level put USD at last daily chart consolidation area,which also happen to be flip zone in the past (refer to chart). Breaking up is still possible but looking at the almost 3% push up the last 2 weeks, there could be chance that usd correct too. This can be seen on Eurusd,gbpusd and its majors too. Let's watch and act accordingly. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXY
by Shadowing_The_Big_Boys
DXY Bullish again? rally from 102.600 back upOnce price mitigates and retests the daily demand zone I’ve marked out, I’ll be looking for the dollar (DXY) to trigger another bullish move within this point of interest (POI), potentially leading to a rally that could take out another all-time high (ATH). Upon reaching this daily demand, I’ll focus on finding a lower time frame entry. As price pushes up, taking out the liquidity and filling the imbalance, I’ll be watching for potential short-term sell opportunities from the daily supply zone, which looks like a high-quality area. Confluences for DXY Bullish Move: Recent Bullish Momentum: Price has been strongly bullish. Break of Structure (BOS): A clear BOS to the upside, leaving behind a demand zone. Liquidity and Imbalance: Liquidity targets and imbalance above, providing room for a rally. High-Quality Daily Demand: The daily demand zone is strong and has a good potential for a bullish push. P.S. I wouldn’t be surprised if the daily supply also holds and causes a deep retracement, but we’ll see how the market reacts. Have a great trading week guys!
TVC:DXYShort
by Hassan_fx
Market Analysis Report: DXY and Gold OutlookDate: October 12, 2024 Strategy Framework: AKC Strategy DXY Overview The DXY is exhibiting a bullish cycle, sweeping liquidity and positioning for strength. However, a potential dip toward 95 is anticipated, signaling a shift in momentum. This level could trigger increased volatility and investor sentiment changes. Key Levels: Support at 95; Resistance at 100 and 103. AKC Strategy Focus: Trend and Pattern Analysis: Watch for reversal signs in DXY and resistance breaches in gold. Fundamentals: Stay alert to inflation data and geopolitical events impacting sentiment. Conclusion: The potential DXY dip aligns with a bullish gold outlook. These movements present opportunities, aligning with the AKC strategy for trend and macro-driven trades.
CAPITALCOM:DXYShort
by Ak_capitalist