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US DOLLAR CURRENCY INDEXUS DOLLAR CURRENCY INDEXUS DOLLAR CURRENCY INDEX

US DOLLAR CURRENCY INDEX

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Daily Chart Analysis of the DXY Dollar Index The DXY (Dollar Index) is currently approaching a significant supply and resistance zone in the range of 104.00 to 104.50. This level has historically acted as a barrier to further price increases, and we expect a potential rise in supply (selling pressure) around this area, which could temporarily halt the upward momentum in the short term. Key Levels: Resistance Zone: 104.00 - 104.50 Potential Target: If a breakout occurs, the next medium-term target may be above this range. Current Strategy: Short positions can be considered around 104.00 to 104.50, but patience is advised to observe the exhaustion of buying power at this resistance level. Key Considerations: Supply Increase Expected: The resistance level at 104.00 to 104.50 is likely to attract sellers, potentially capping the price in the short term. The market will need strong buyer momentum to overcome this supply zone. Watch for Exhaustion of Buyers: Look for signs of buyer fatigue, such as weaker upward moves, before entering a sell position. This could signal the ideal time to act within this range. Potential Breakout: In the event of a strong breakout above 104.50, the upward trend may continue in the medium term, suggesting that selling pressure has been absorbed. In such a case, waiting for confirmation of sustained price action beyond 104.50 would be essential before considering a reversal of strategy. Risk Management: Implement tight stop-loss orders in case the price surges past the 104.50 resistance, invalidating the short-selling scenario. Conclusion: At this stage, the 104.00 to 104.50 level represents a critical resistance zone for the DXY. While selling at this range could be profitable in the short term, it's important to wait for clear signs of weakening buyer strength. However, a strong breakout could shift the market's direction towards further price gains in the medium term.
TVC:DXYShort
by BourseNegar
DXY Index at Critical Resistance: Possible Clues for USD Pairs👀👉 The US Dollar Index (DXY) is nearing a key resistance zone, repeatedly tested on both the monthly and weekly timeframes, which often signals a potential market reaction or rejection. While the US dollar has maintained a strong bullish trend, these factors suggest a possible near-term reversal, offering potential opportunities in both correlated and inversely correlated currency pairs. Disclaimer: This is not financial advice. Always do your own research and consult a licensed financial advisor before making any trading decisions. 📊✅
TVC:DXY
by tradingwithanthony
Levels discussed on 22nd October Livestream22nd October DXY: retracing, testing 103.80 support level, needs to stay above 103.60, to continue uptrend to 104.20. NZDUSD: Sell 0.6015 SL 20 TP 40 AUDUSD: Stays below 0.67, Sell 0.6680 SL 20 TP 60 GBPUSD: Retracing, Look to test and reject trendline, Sell 1.3025 SL 20 TP 50 EURUSD: Look for reaction at 1.0780 support level or 1.0870 resistance level USDJPY: Buy 151.15 SL 40 TP 65 USDCHF: Sell 0.8630 SL 10 TP 20 USDCAD: Buy 1.3860 SL 20 TP 60 Gold: Look for retracement possibly to 2715, buy on dip, for 2750 target
TVC:DXY
by JinDao_Tai
USD Index at 104 Resistance: Strategies for the Next MoveIn early October, I wrote that the multiple attempts to break below the support level given by the beginning of the year price were likely false breaks. I suggested that the DXY (U.S. Dollar Index) was primed for a reversal to the upside, which could potentially push the price toward the 104 resistance level. As anticipated, the USD Index reversed and touched this key resistance. Looking ahead, a correction from this point seems probable, with the 102.50 zone being a possible target in the coming days. My strategy is to look for buying opportunities in EUR/USD and AUD/USD.
TVC:DXYShort
by Mihai_Iacob
Dollar Index Consolidation: Will NFP Trigger an Upside Breakout?Since its recent touch on the support zone back in August, the U.S. Dollar Index ( TVC:DXY ) has entered a period of consolidation, characterized by multiple attempts to break through this critical support level. Despite several instances where the price briefly dipped below the technical support zone, each time, the market witnessed a strong reversal, with bulls stepping in to defend the level successfully. From my perspective, we are nearing a potential upside reversal, and the upcoming Non-Farm Payroll report on Friday could serve as the catalyst for this move. Currently, 102 is the key level to watch for confirmation of an upward breakout. Should the DXY break above this threshold, the next reasonable target would be around 104, marking a significant bullish shift in momentum.
Editors' picks
TVC:DXYLong
by Mihai_Iacob
15
US dollar rally faces hurdle as rates unwind stalls at key levelWhether it reflects US economic exceptionalism reducing the need for large-scale rate cuts from the Federal Reserve or improved prospects for Donald Trump winning the US Presidential election, or a combination of both, it’s obvious the US interest rate outlook is dictating direction across FX markets. Higher US yields are sucking capital from other parts of the world, helping to fuel US dollar strength. With short-dated Treasury futures teetering above a key technical level, what happens next could be highly influential in determining the path for currencies and global borrowing costs as we move towards year-end.
TVC:DXYEducation
by FOREXcom
2
Dollar Index - Busy Week Ahead. Expect VolatilityFor over 2 weeks, dollar index has been bullish, rallying up to the weekly objective of 103.546 - 104.080 fair value gap whilst also pinging off the daily bearish order block. Bearishness this week down to the most local imbalance @ 103.444 - 103.345 (T1) and 102.993 - 103.031 (T2) would be considered a healthy retracement in the grand scheme of the bull run. Have you not noticed that as the FED and other central banks lower their interest rates (effectively making their money to borrow cheaper) lead to a low resistance liquidity run. Monday - 2 medium events Tuesday - 4 medium, 1 High event Wednesday - 3 Medium - 5 High event Thursday - 4 Medium, 9 High event Friday - 5 medium, 2 High events
TVC:DXYShort
by LegendSince
Analysis of Dollar / DXYAs I mentioned in yesterday's analysis, there is a strong bullish momentum. Today, after the market opened, we saw that the price continued in that direction, following the upward trend. I took advantage of this momentum on other currency pairs and entered trades. On the weekly time frame, we can see a lot of liquidity as well as movement within a consolidation zone. What I anticipate could happen tomorrow is a pullback due to news and a continuation of the momentum on the daily time frame. Of course, we need to wait and be patient before entering a trade.
TVC:DXY
by andricstrahinja95
Levels discussed on Livestream 21 October21st October DXY: needs to stay above 103.40 to continue uptrend to 103.90, beyond that 104.20 NZDUSD: Sell 0.6040 SL 30 TP 60 AUDUSD: Sell 0.6635 SL 20 TP 60 GBPUSD: Sell 1.2950 SL 30 TP 130 EURUSD: Look for reaction at 1.08-1.0780 support level USDJPY: Buy 150.50 SL 30 TP 120 (Hesitation at 150.90-151) USDCHF: Buy 0.8680 SL 35 TP 70 USDCAD: Could climb higher, looking for reaction around 1.39 Gold: Look for retracement to complete, then continue uptrend to 2750 (needs to stay above 2700)
TVC:DXY
by JinDao_Tai
How High Can the Dollar Go?The US dollar continues its impressive rally, marking three consecutive weeks of gains. This sustained strength is fueled by robust US economic data, persistent inflation, and a hawkish Federal Reserve. The dollar's rally reflects a significant shift in market sentiment. Initially triggered by escalating geopolitical tensions, the dollar's strength has been further reinforced by positive economic data. This combination of factors has fueled a powerful uptrend. Economic Strength: The US economy has consistently defied expectations of a slowdown, with strong labor market data and resilient consumer spending driving growth. Nonfarm payrolls continue to impress, with a significant number of jobs being added to the economy. The unemployment rate remains low, indicating a tight labor market. This, combined with robust consumer spending, paints a positive picture of the US economy, bolstering the dollar's appeal. Inflation Persistence: Despite some cooling, US inflation remains sticky, exceeding the Fed's 2% target. This persistent inflation reinforces the Fed's hawkish stance and diminishes the likelihood of significant rate cuts, further supporting the dollar's strength. Technical Confirmation: The dollar's uptrend is evident in the technicals. The US Dollar Index (DXY) has broken through key resistance levels, signaling further upside potential. The clean breakouts and strong momentum observed on various timeframes reinforce the bullish outlook for the dollar. Traders are closely watching for a sustained break above the 104 level, which could open the door for a more upside trajectory. Upcoming News: Bank of Canada (BoC) Interest Rate Decision: The BoC is widely expected to cut rates by 50 basis points, reflecting the slowdown in the Canadian economy and easing inflation. This potential rate cut could weigh on the Canadian dollar, particularly against the strong US dollar. A dovish BoC could push USD/CAD above 1.3900, while a data-dependent approach with a pause in a rate cut trajectory might cause a bounce from this level and return back toward the trendline. Eurozone and UK PMIs: The release of manufacturing and services PMIs for the Eurozone and the UK will provide further insights into the economic outlook for these regions. Weaker-than-expected PMI figures could weigh on the euro and the British pound, especially against the strong US dollar. EUR/USD falling to 1.0800. Break below likely - Only a hawkish ECB or strong PMIs can save it. Will 1.3000 hold? Traders are on edge as GBP/USD tests this key support. A break could trigger a wave of selling towards 1.2850. Share your thoughts on the dollar's outlook in the comments below. Follow our profile for more fundamental and technical analysis updates. This is a market analysis, not trading advice. Past performance is not indicative of future results. Trade responsibly and do your own research.
TVC:DXY
by E8Markets