PROJECTION FOR DXYPrice looking consolidate before dropping. Price has refused to close above the previously created high which means that price might continue the actual trend which is down movement. This means bullish for foreign currency pair
DXY trade ideas
DXY Major Support TestWe have a pretty interesting situation with fed fund futures moving all over the place. Lots of speculation about soft vs hard landing, speed of rate cuts, etc. I'm really not sure what I even think will happen to things like DXY and BTC in the near future, but I do know that TA says DXY should have support here and if it doesn't hold it's likely going to lead to more continuation down. This 100 area has been strong support since Feb 2023. This is the fifth or sixth test of this area in the last 18 months. Clearly an important spot. Either it's going to break 100 and accelerate to the downside or it's going to hold the current range.
This is both horizontal support and the first retest of the big downtrend breakout from the high in 2022 we got back in April. That also happened to be during a time of war escalation fears from Iran's strikes. Seems likely we will see at least some sort of bounce, but this could be the time it breaks and it would probably be a big time break. DXY has been in this range from ~100-105 for over a year. It's gonna move quick if it does break down, I'm pretty sure of that much at least.
[DXY] Entering the boxTVC:DXY is releasing the downward pressure & has now entering the box once again. My hunch is the price will go back & forth within the box, but if break to upside, then there's another resistance to overcome there.
MACD is still negative.
Still looking bearish, but no trend & seems tend to volatile in this box. Better stay out until there's more trend clarification.
Dollar Index (DXY) Looking for a Flat Elliott Wave CorrectionShort Term Elliott Wave View in Dollar Index (DXY) suggests that decline to 100.2 ended wave 1. Rally in wave 2 is in progress as an expanded flat Elliott Wave structure. Up from wave 1, wave (a) ended at 101.14 and pullback in wave (b) ended at 100.91. Wave (c) higher ended at 101.47 which completed wave ((a)) in higher degree. Wave ((b)) dips takes the form of a double three Elliott Wave structure. Down from wave ((a)), wave (w) ended at 100.4 and wave (x) ended at 101.23. Wave (y) lower ended at 100.15 which completed wave ((b)) in higher degree.
The Index has turned higher in wave ((c)). Up from wave ((b)), wave (i) ended at 100.54, and pullback in wave (ii) ended at 100.18. Wave (iii) higher ended at 101.39 and pullback in wave (iv) ended at 101.15. Expect the Index to extend higher 1 more leg in wave (v) to finish wave ((v)) of 2 in higher degree. Afterwards, expect the Index to resume lower. Possible target for wave (v) of ((v)) of 2 is 100% – 161.8% Fibonacci extension of wave ((a)). This comes at 101.4 – 102.1 area.
"Impact of Increased Supply on DXY Ahead of NFP Release.....The DXY remains within its bearish range as October begins, aiming to mitigate previous supply levels. The market is seeing increased supply pressure, which could lead to further declines as the NFP (Non-Farm Payroll) release approaches, adding to market volatility and potential shifts in direction.
Is DXY Finally Bullish? 101.000 Broke with BULLISH Momentum..DXY is showing signs of pulling back after reaching the top of its daily ATR range, indicating potential exhaustion in the current bullish momentum. I’m anticipating a short-term retracement as the index begins to pull away from these elevated levels.
My focus is on a potential retest of the 100.800 level, which previously acted as a key support from which the market rallied to new highs. This area will be critical in determining if the DXY can find support again or if it will continue to slide further. Stay cautious of volatility and how upcoming U.S. economic data may influence this move.
DXY: Market Is Looking Up! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 101.512
Wish you good luck in trading to you all!
** Dollar index enters bull market - Life cross prints **On the above 2 day chart price action has entered a bull market. We define this as:
1) The 2-day 50-day SMA (blue line) crossing up the 2-day 200-day SMA
AND
2) Price action above the 2-day 200-day SMA.
Both of those conditions have now confirmed. The Dollar index is in a bull market.
The previous life cross (idea below) printed in November 2021. The dollar index rallied 20% after the cross, I’m sure you noticed.
Is this another 20% bull market like 2021?
Unfortunately, it is looking that way. However much higher. Not only that but there is evidence to support a faster rate of change in the uptrend.
At the moment the dollar index remains in a trading range that began in November 2022. Markets are likely to remain unaffected until the index exits that range. A bull flag has printed since the trend reversal and life cross.
The bull flag extension would take price action outside the trading range. When this happens AND past resistance confirms as support… be in cash. No stocks no crypto no metals no animal spirits.
This bull market has a 1st target area with the index rallying to 130. Yes you read that correctly. A detailed explanation of why and when this is likely to happen is written elsewhere.
Ww
November 2021 Life cross
DXY Bullish: First Time Since December 2023 (vs Bitcoin)My dear supporter, it is not only Bitcoin that will enter a major correction, the SPX, DJI, NDX and all major stocks are also sitting on very strong bearish charts. The whole financial economy is about to crash... With that said, we look at each chart individually.
We are now considering the DXY, the U.S. Dollar Index.
We know that this index moves in an inverse faction compared to Bitcoin and the stock market.
This index last turned bullish in December 2023. After peaking in April 2024, it is going bullish again now and it has been producing a bottom formation for an entire month. This is a long time to produce a bottom which means that this is a strong bottom.
We know Bitcoin is bearish and moving lower.
We know of the lower highs, trading below MA200, the strong bearish volume and all the other dynamics; This signal is a major signal and the last confirmation.
We are now seeing the DXY go bullish and this in turn works as a bearish signal for Bitcoin.
The DXY can be read in many other ways but we are looking at its relation with Bitcoin because we focus first on the Cryptocurrency market.
The DXY is set to move up and will produce its biggest bullish wave since December 2023.
See the 'Related publications' for some of the charts that I see bearish, such as: SPX, NDX, DJI, NVDA & Bitcoin.
Thank you for reading.
Namaste.
DXY short sell ideaAfter wave count 1 2 3 4 5
and wave a b c
abc don't change character at the structure
then wave 1 2 3 4 5 again -- with fibo extension on wave 5
and short sell idea
proper risk management
consolidation break above high swing DXY 4H chart
Price has made a break above our consolidation high which is our signal that the LTF is bullish and looking to target the 101.905 price level our HTF swing high area. We are to look for any buying opportunities area the 101.016 which is the broken structural price area.
Levels discussed on Livestream (1st October)1st October
DXY: If price can break 101, could trade up to 101.40 (61.8% area)
NZDUSD: Sell 0.6290 SL 20 TP 40
AUDUSD: Sell 0.6885 SL 20 TP 60
GBPUSD: Sell 1.3350 SL 20 TP 45
EURUSD: Sell 1.1075 SL 20 TP 65
USDJPY: Stay above 143.45, Buy 144.90 SL 50 TP 150
USDCHF: Continue higher, look for reaction at 0.8510
USDCAD: Buy 1.3545 SL 20 TP 50
Gold: Needs to stay below 2649 to trade lower, below 2630 could trade down to 2616
DXY BUY ANALYSIS FALLING WEDGE PATTERN Here on Dxy price has form a falling wedge pattern and there is a probability of going up if line 100.906 so going for LONG is needed with target profit of 101.401 , 101.884 and 102.446 . Use money management
DXY H8 - Long SignalDXY H8
There isn't too much to report on here for the likes of the dollar index, we have seen a bullish start to the week so far which was as expected, but we are still very much in the same range which trades between 100.200 price and 101.000 price, we really need to see a break north of this 101 level.
A break of 101.000 price, and subsequent surge towards 101.800 to 102.000 price is the next goal. Good start to the week thus far. Lets see if we can start to see these setups we have been following unfold a little more in our favour!
Weekly Outlook Sep 30 - Oct 4 $DXYTVC:DXY might have a short term relief rally this week before continuing its march to lower lows. Factors contributing to weakness can be economic data and/or FED being more dovish than expected
DXY to 100?! - Updated: Better than Expected PMI, Still Bearishintraday price action in DXY started off bearish with a series of lower lows and lower highs and the momentum continued until new york session.
U.S. released a better than expected PMI report and the market rallied 70 points!
if DXY breaks 101.000 the bearish bias is invalidated
gameplan: possible EU re-entry
Navigating the Downtrend: DXY’s Critical Battle Within the rangeHey Traders,
The U.S. Dollar Index ( TVC:DXY ) is currently trading in a downward trend channel, showing bearish momentum. However, the index is approaching critical levels where a potential breakout could lead to a shift in market sentiment. Let's take a closer look at the technical landscape and identify key levels to watch for both bullish and bearish scenarios.
Current Market Conditions:
Trend: The DXY is trading in a well-defined descending channel, with lower highs and lower lows confirming the bearish trend.
Resistance Levels: The index is nearing a crucial resistance zone at 101.526, which also aligns with the upper boundary of the descending channel. This level will be critical to watch for potential rejections or breakouts.
Support Levels: On the downside, immediate support lies at 100.762, followed by further support at 100.550 and 100.175. These levels may provide potential buying interest if the downtrend continues.
Candlestick Patterns: Currently, the price action is showing hesitation as it approaches the upper boundary of the channel, signaling indecision in the market.
Fundamental Analysis/Outlook:
The strength of the U.S. dollar has been impacted by several factors, including recent Federal Reserve interest rate decisions, inflation reports, and mixed economic data from the U.S. While Treasury yields have been fluctuating, any changes in market sentiment around future rate hikes could provide directional cues for the DXY.
Additionally, movements in global risk sentiment, particularly related to major economic events, could influence the dollar's trajectory. With uncertainties looming, traders should stay vigilant for news around U.S. GDP reports, employment data, and other key macroeconomic indicators.
Targets:
Upside Target: If the DXY breaks above the resistance zone at 101.526, the next key target would be 101.751, which marks a significant resistance level.
Downside Target: In case of a bearish continuation, traders should watch for a move towards 100.550, with the possibility of reaching the lower support at 100.175.
Risk Management:
Stop-Loss: A recommended stop-loss level for a long position would be slightly below the 100.550 support level, around 100.400, to protect against further downside movement.
Position Sizing: Given the volatile nature of the market and the proximity to key levels, consider adjusting your position size accordingly to manage risk effectively.
Conclusion:
DXY is at a pivotal juncture within its descending channel/range. A breakout above the 101.526 resistance could signal a potential reversal, while a rejection at this level may lead to a continuation of the downtrend. Traders should closely monitor key levels, as the next moves will likely set the tone for the index in the coming sessions.
Sign-Off:
"Success is not final, failure is not fatal: It is the courage to continue that counts."
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
DXY POSSIBLE SELL OPPORTUNITY!!!Price just reached a resistance level. Price may drop from the current price. A sell opportunity is envisaged as buyers gets exhausted at the resistance level.
DXY POSSIBLE SELL OPPORTUNITY!!!Price just reached a resistance level. Price may drop from the current price. A sell opportunity is envisaged as buyers gets exhausted at the resistance level.
Dollar Index in an ending structureCall it diagonal, call it squeeze or whatever other name you want to call it, the dollar index is now quite clearly in an ending structure.
Will it break? Most likely yes, this week it should break out.
dxy is getting beairsh again 💀 boost and follow for more❤️🔥 a recent fake out breakout past resistance zone, now sitting at a trend support.. I wont be surprised to see it slice through trend support and head down to 97-100 targets in the next few weeks or so 🎯
