Possibility of uptrend It is expected that we will see the beginning of the upward trend and advance to the specified resistance levels.
Otherwise, a corrective trend will be possible up to the indicated support levels
DXY trade ideas
Will EU CPI support a quick rebound of DXY?Macro theme:
- The dollar hovered near its lowest in over a year but downside momentum is fading as markets have already priced in Sep easing.
- A short-term rebound is possible if the EU CPI continues its downward trend this week.
Technical theme:
- DXY formed a small double-bottom pattern around 100.50 in the 4-hour chart and bounced up to retest its neckline, which is confluence with EMA21, indicating a potential trend shift.
- If DXY closes above its neckline around 100.90, the index may retrace further to retest the previous swing high around 101.60.
- Conversely, DXY may retest the bottoms again if it closes below 100.80.
DXY Weekly analysis 24-Aug-2024Dxy is in the ascending channel in the monthly time frame
Also, at the moment, it is almost close to the bottom of the channel
As various indicators show oversold, I expect the price to bounce back from the area shown on the chart.
Otherwise, with the channel floor breaking, I expect the price to drop to the specified range
But even if the price continues to decline, we should see a pullback in this area
*Be profitable
Thank you for expressing your opinion with likes and comments
Analysis of the Dollar Index (DXY)Overview: On Tuesday, the Dollar Index (DXY) showed weak performance, failing to consolidate the partial recovery seen on Monday after last week's sharp decline. Although the dollar posted gains against major Asian currencies, such as the Japanese Yen (JPY) and the Korean Won (KRW), these gains were quickly erased during the US trading session. The return of a "risk-on" sentiment in the markets, with stock indices rising in Asia, Europe, and US futures, has led investors to move away from safe-haven assets, further weighing on the dollar.
Fundamental Factors:
Market Sentiment: The return of the "risk-on" sentiment has favored riskier assets at the expense of the US dollar. The easing of tensions in the Middle East has helped reduce flows into safe-haven assets, exerting bearish pressure on the DXY.
Economic Data: On Tuesday, attention will be focused on the weekly mortgage applications data published by the MBA and the EIA's report on US crude oil inventories. Additionally, the speech by Federal Reserve's Waller could provide further insight into the direction of US monetary policy.
Currency Performance: The EUR/USD has resumed its bullish trend, partially erasing the weakness seen at the start of the week. The British pound (GBP/USD) reached over two-year highs, supported by expectations that the Bank of England (BoE) will not cut rates as much as the markets anticipated.
Commodities and Precious Metals: WTI saw a sharp decline, breaking a three-day winning streak due to renewed demand concerns and some profit-taking. Gold prices alternated between gains and losses above the $2,500 per ounce mark, while silver prices remained near the $30.00 per ounce level.
Daily Technical Analysis of Gold,Currencies,and Indices28/8/2024Daily Technical Analysis of Gold,Currencies,and Indices 28/8/2024
Introduction
Welcome, I am Mohammed Qais Abdulghani, a financial markets expert. Today, August 28, 2024. At the start of the analysis, highlights the importance of the anticipated economic data today, such as the U.S. crude oil inventory report expected to be released at 5:30 PM Mecca time, which is expected to significantly impact price movements. The technical and economic analysis then begins with the U.S. Dollar Index (DXY).
Analysis of the U.S. Dollar Index (DXY):
The U.S. Dollar Index continues to trade under pressure, with prices remaining below the 102 level, the downward trend line, and the 55-day moving average. These factors indicate a potential continuation of selling pressure, and the dollar may only regain strength if it breaks above the 1.300 level.
Analysis of EUR/USD:
The EUR/USD pair failed to break above the 1.122000 level, suggesting the possibility of a downward correction before resuming its upward trend towards the 1.13500 and 1.1000 levels. If the pair fails to break through 1.122000, we might see a decline towards 1.111000 or even 1.10000.
Analysis of GBP/USD:
The GBP/USD pair faces strong resistance at the 1.32500 level. If it fails to break through this level, we might see a downward correction towards 1.31000. To exit the bearish trend, buying positions need to return above 1.32500.
Analysis of USD/JPY:
The USD/JPY pair remains under selling pressure, with prices staying below the 145 yen level. If prices continue to stay below this level, the likelihood of a decline towards 140 yen increases, and the bearish scenario will only be canceled if the price breaks above 145 yen.
Analysis of USD/CHF:
The USD/CHF pair is trading under selling pressure, with the potential for continued weakness towards the 0.837 and 0.824 levels if prices remain below 0.85 and 100 pips.
Analysis of AUD/USD:
The AUD/USD pair maintains a bullish trend, with expectations for further upside towards the 0.69 level, provided it breaks through the 0.68 level. The bullish scenario will be negated if the pair breaks below 0.667.
Analysis of NZD/USD:
The NZD/USD pair is attempting an upward correction and will only regain bullish momentum if it breaks above the 0.62250 level.
Analysis of USD/CAD:
The USD/CAD pair continues to weaken, with the potential for further declines if prices remain below the 1.36 level.
Analysis of GBP/JPY:
The GBP/JPY pair is recovering and creating new buying positions, with expectations of a rise towards the 196 yen level if this level is broken.
Analysis of EUR/JPY:
The EUR/JPY pair remains under pressure, with expectations of further declines towards the 158 yen and 153 yen levels if prices stay below 164 yen.
Analysis of EUR/GBP:
Breaking below the 0.84500 level indicates the possibility of a bearish wave targeting the 0.83750 and 0.83000 levels.
Analysis of USD/TRY:
The USD/TRY pair maintains its upward trend, with the potential to reach 44.5 lira per dollar if the upward momentum continues.
Bitcoin Analysis:
Bitcoin continues to trade above the $60,000 level, with the potential for further gains towards $72,000 and $82,000 if the $66,000 level is broken.
Ethereum Analysis:
Ethereum faces resistance at the $2800 level, and no further upward movement will be seen unless this level is broken.
Ripple Analysis:
Ripple maintains an upward trend as long as prices stay above 55 cents, with a target of 65 cents.
Gold Analysis:
Gold maintains its upward trend thanks to trading above the support level of $2460, supported by economic and geopolitical data. Breaking the resistance level at $2520 will lead to the creation of new buying opportunities and a strong upward wave.
Oil Analysis:
If oil manages to break above the $77 level, we may see an increase towards the $80 and $83 per barrel levels.
Silver Analysis:
Silver remains stable above the $29 level, with the potential for further gains if it surpasses $30.5.
Natural Gas Analysis:
Natural gas is under selling pressure, with the potential for declines to the $1.8 and $1.4 levels if prices stay below $2.20.
Dow Jones Analysis:
The Dow Jones index maintains its positive trend, targeting the 42,500 level.
S&P 500 Analysis:
The S&P 500 index is attempting a downward correction, with expectations for further declines if it remains below the 5700 level.
Nasdaq 100 Analysis:
The Nasdaq 100 index faces the possibility of a downward correction wave if it breaks the support level at 19250 points.
Russell 2000 Analysis:
The Russell 2000 index is trying to return to the 2225 level, with the potential for further declines if it fails to break above this level.
FTSE Analysis:
The FTSE index maintains its positive trend, targeting the 8400 level.
DAX Analysis:
The DAX index needs to break above the 18750 level to confirm the upward trend.
CAC Analysis:
The CAC index is trying to maintain its positive trend with prices stable above the 7577 level.
Nikkei Analysis:
The Nikkei index maintains its positive trend, targeting the 42450 level if it remains above the 55-day moving average.
DXY (long)Turtle soup Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
It takes inspiration from the famous Turtles trading experiment, where novices were trained on a trend-following system.
How much further can the Big Dollar Drop?Following Fed Chair Powell's speech at Jackson Hole, the USD index, the DXY, is trading at 100.55, on track for its largest monthly fall in 21 months.
The narrative is that the Fed's sole focus on the labour market and zero tolerance for any further increases in the U/R has reactivated the Fed Put, which presents a significant headwind for the USD.
Zooming out to the monthly chart it can be viewed that the DXY completed a multi year five wave advance at the 114.77 high from Sep 22.
A sustained break of critical medium-term support at 99.50 would open up a move lower towards 92.00, about 8 ½ % below where it is trading now as it traces out the third leg (Wave C) of a three wave correction.
Sell the DXY Gap Up!DXY chart is about to turn back on in the next few minutes here - new daily candle about to print - looking for a gap up into resistance to short
Rebound and reversal DXY. H4 27.08.2024Rebound and reversal DXY
The dollar index is moving according to the previous analysis
but it may still go lower with a false takeout and then a reversal
to a deep correction will start.
The area of 100.60-100.50 is still an important strategic support
but no one cancelled false bounces.
I expect a correction in autumn around 102 and will further refine.
DXY Medium cycle analysis DXY was in a trading range
now its brake that and pulled back. also its brake the trend line, its a grate setup.
also we have a fundamental
confirmation too.
when the CB Consumer Confidence news was good for Dollar we just saw a bullish candle in 5M. However we see bearish candles later.
its show us the weakness of dollar.
- how much it can move ?
my first target is the midline of the trading range.
and my second target its the resistance level of trading range.
Its just my personal comment please don't trade whit this.
thanks for your attention.
Mallicast team's analysis of the Dollar Index:The dollar is fluctuating within the price range of 100.923 to 100.611. However, there is a possibility that it could break the current support level and move down towards the price floor of 100.024.
The analysis by the Mallicast team focuses on the Dollar Index, highlighting its current price movements and potential future trends. Their insights suggest possible support and resistance levels, as well as potential scenarios for the index based on market conditions.
Mallicast team's analysis of the Dollar Index:The dollar is fluctuating within the price range of 100.923 to 100.611. However, there is a possibility that it could break the current support level and move down towards the price floor of 100.024.
The analysis by the Mallicast team focuses on the Dollar Index, highlighting its current price movements and potential future trends. Their insights suggest possible support and resistance levels, as well as potential scenarios for the index based on market conditions.
DXY 27/8/2024WEEKLY BEARISH NARRATIVES
DAILY DISPLACEMENT DOWNWARDS LEAVING FVG
Right now, I would wait for 4hr confirmation at the FVG
Levels discussed on 27th August Livestream27th August
DXY: consolidating along 100.80, needs to stay below 101.10 to maintain bearish sentiment, breaking 100.80 could trade down to 100.55
NZDUSD: Buy 0.6230 SL 20 TP 45
AUDUSD: Look for reaction at 0.68 (CPI Pending) Sell 0.6740 SL 25 TP 45 (Tomorrow)
GBPUSD: Buy 1.3225 SL 35 TP 70
EURUSD: Buy 1.1180 SL 25 TP 70
USDJPY: Wait for retracement to complete, before looking for selling potential. could retest 146
USDCHF: Nothing for now, look for reaction at 0.8445
USDCAD: Sell 1.3450 SL 20 TP 40
Gold: Could retest 2500, look for bounce to 2515
Dollar Index (DXY), TechnicalDXY experienced muted momentum while hovering around the 100.80 support. The widening gap between EMAs indicates further downside potential.
If DXY amplifies its bearish momentum and breaks 100.80, a decline to 100.20 might occur.
Conversely, closing above EMA21 while staying above 100.80 could prompt a pullback to 101.60.
Dollar Index (DXY), FundamentalThe dollar was in a tight range after a sharp drop on Friday following Powell's speech. Jul preliminary data printed mixed results with better Durable Goods Orders MoM, but Capital Goods Orders declined MoM.
However, San Francisco Fed President Mary Daly, in a recent interview, supported Chair Powell's view that it is time to cut rates, limiting the dollar's upside.
DXY IndexPair : DXY Index
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
Break of Structure
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Resistance Level
DXY - Dollar in the long-termThe DXY has weakened greatly in the past few weeks and the risk of selling the dollar is not attractive
It is possible to re-enter dollar sales after this downward trend!
Daily Technical Analysis of Gold,Currencies,and Indices 27/8/202Daily Technical Analysis for Gold, Currencies, and Indices - 27/8/2024
Introduction
Welcome, I am Mohammed Qais Abdulghani, a financial markets expert. Today, uesday, August 27, 2024. We begin by noting the importance of the economic data to be released today, such as Germany’s GDP at 9:00 AM Makkah Time and the US Consumer Confidence Index at 5:00 PM, which are expected to significantly impact market movements.
Analysis of the U.S. Dollar Index (DXY):
The U.S. Dollar Index continues to trade under pressure, with prices remaining below the 102 level, the downward trend line, and the 55-day moving average. These factors indicate a potential continuation of selling pressure, and the dollar may only regain strength if it breaks above the 1.300 level.
Analysis of EUR/USD:
The EUR/USD pair failed to break above the 1.122000 level, suggesting the possibility of a downward correction before resuming its upward trend towards the 1.13500 and 1.1000 levels. If the pair fails to break through 1.122000, we might see a decline towards 1.111000 or even 1.10000.
Analysis of GBP/USD:
The GBP/USD pair faces strong resistance at the 1.32500 level. If it fails to break through this level, we might see a downward correction towards 1.31000. To exit the bearish trend, buying positions need to return above 1.32500.
Analysis of USD/JPY:
The USD/JPY pair remains under selling pressure, with prices staying below the 145 yen level. If prices continue to stay below this level, the likelihood of a decline towards 140 yen increases, and the bearish scenario will only be canceled if the price breaks above 145 yen.
Analysis of USD/CHF:
The USD/CHF pair is trading under selling pressure, with the potential for continued weakness towards the 0.837 and 0.824 levels if prices remain below 0.85 and 100 pips.
Analysis of AUD/USD:
The AUD/USD pair maintains a bullish trend, with expectations for further upside towards the 0.69 level, provided it breaks through the 0.68 level. The bullish scenario will be negated if the pair breaks below 0.667.
Analysis of NZD/USD:
The NZD/USD pair is attempting an upward correction and will only regain bullish momentum if it breaks above the 0.62250 level.
Analysis of USD/CAD:
The USD/CAD pair continues to weaken, with the potential for further declines if prices remain below the 1.36 level.
Analysis of GBP/JPY:
The GBP/JPY pair is recovering and creating new buying positions, with expectations of a rise towards the 196 yen level if this level is broken.
Analysis of EUR/JPY:
The EUR/JPY pair remains under pressure, with expectations of further declines towards the 158 yen and 153 yen levels if prices stay below 164 yen.
Analysis of EUR/GBP:
Breaking below the 0.84500 level indicates the possibility of a bearish wave targeting the 0.83750 and 0.83000 levels.
Analysis of USD/TRY:
The USD/TRY pair maintains its upward trend, with the potential to reach 44.5 lira per dollar if the upward momentum continues.
Bitcoin Analysis:
Bitcoin continues to trade above the $60,000 level, with the potential for further gains towards $72,000 and $82,000 if the $66,000 level is broken.
Ethereum Analysis:
Ethereum faces resistance at the $2800 level, and no further upward movement will be seen unless this level is broken.
Ripple Analysis:
Ripple maintains an upward trend as long as prices stay above 55 cents, with a target of 65 cents.
Gold Analysis:
Gold maintains its upward trend thanks to trading above the support level of $2460, supported by economic and geopolitical data. Breaking the resistance level at $2520 will lead to the creation of new buying opportunities and a strong upward wave.
Oil Analysis:
If oil manages to break above the $77 level, we may see an increase towards the $80 and $83 per barrel levels.
Silver Analysis:
Silver remains stable above the $29 level, with the potential for further gains if it surpasses $30.5.
Natural Gas Analysis:
Natural gas is under selling pressure, with the potential for declines to the $1.8 and $1.4 levels if prices stay below $2.20.
Dow Jones Analysis:
The Dow Jones index maintains its positive trend, targeting the 42,500 level.
S&P 500 Analysis:
The S&P 500 index is attempting a downward correction, with expectations for further declines if it remains below the 5700 level.
Nasdaq 100 Analysis:
The Nasdaq 100 index faces the possibility of a downward correction wave if it breaks the support level at 19250 points.
Russell 2000 Analysis:
The Russell 2000 index is trying to return to the 2225 level, with the potential for further declines if it fails to break above this level.
FTSE Analysis:
The FTSE index maintains its positive trend, targeting the 8400 level.
DAX Analysis:
The DAX index needs to break above the 18750 level to confirm the upward trend.
CAC Analysis:
The CAC index is trying to maintain its positive trend with prices stable above the 7577 level.
Nikkei Analysis:
The Nikkei index maintains its positive trend, targeting the 42450 level if it remains above the 55-day moving average.
Demand in DXY?!? - LTFlooks like DXY may have found some low time frame support. LTFs have made a series of higher highs and higher lows with multiple areas of demand that could act as even more support for this market
DXY Local Rebound Ahead! Buy!
Hello,Traders!
DXY was falling sharply
And was locally oversold
So now that it is already
Making a bullish rebound
From the horizontal support
Of 100.520 a further
Bullish correction is
To be expected
Buy!
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