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2024 Intermarket AnalysisThis chart compares the performance of several key assets—Bitcoin (blue), Gold (yellow), the S&P 500 (red), the U.S. Dollar Index (green), and WTI Crude Oil (white)—over the past year. Here’s a breakdown of each asset’s performance and its potential implications: Bitcoin (Blue) - Up 50.63% Bitcoin has shown strong performance, with a notably higher volatility than the other assets. The cryptocurrency's rise, particularly in recent months, indicates strong demand and possibly a growing interest in Bitcoin as an alternative asset. Its uncorrelated behavior compared to traditional assets, such as the S&P 500 and Gold, highlights its appeal as a diversifying investment, especially during periods of macroeconomic uncertainty. Gold (Yellow) - Up 32.47% Gold has performed solidly, with a significant positive return, reflecting its status as a safe-haven asset. The increase in gold prices suggests that investors may be hedging against inflation, economic instability, or potential currency devaluation. Gold’s upward trend, coupled with its stability compared to Bitcoin, shows that it continues to be a reliable store of value. S&P 500 (Red) - Up 22.46% The S&P 500 is underperforming compared to other assets. This is influenced by economic slowdown concerns, investors potentially seeking alternative or defensive assets. U.S. Dollar Index (Green) - Up 2.24% The U.S. Dollar Index has shown mild growth, suggesting a stronger dollar relative to other currencies. This strength may stem from tighter monetary policy and interest rate hikes by the Federal Reserve. However, the dollar's relatively flat trajectory over time shows mixed reactions to broader economic conditions, with the currency acting as a moderate safe haven. WTI Crude Oil (White) - Down 2.36% WTI Crude Oil has seen a minor decline, with fluctuations reflecting supply-demand dynamics, geopolitical factors, and economic slowdown fears. The relative stability in oil prices compared to Bitcoin and equities might indicate a balanced market sentiment around energy demand and supply. However, as a crucial economic indicator, crude oil’s trend is essential to monitor for insights into broader economic activity. Key Takeaways: Risk Appetite vs. Safe Haven: Bitcoin and Gold have outperformed, possibly reflecting a flight to alternative and safe-haven assets amidst economic uncertainty. Dollar's Stability: The U.S. Dollar has remained relatively stable, benefiting from its safe-haven status without extreme growth or decline. Energy Market: Crude Oil’s moderate performance suggests mixed sentiment in global economic growth expectations. This analysis indicates a preference for alternative investments like Bitcoin and Gold, It reflects investor caution amidst economic concerns, with the Dollar and Oil serving as more stable assets
TVC:DXY
by Moshkelgosha
2
Market News Report - 27 October 2024The greenback was again a bullish force in the past week. Other currencies that put up an upward fight include the Swiss franc and euro. Then, the Bank of Canada delivered an expected cut in the CAD interest rate. Let's see what to expect for our beloved forex market in the coming weeks in our market report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Despite a recent 50 basis points (bps) rate cut, the Fed may not need to cut rates as aggressively going forward. This is partly due to recent positive job numbers and earnings data that exceeded expectations. Still, the central bank has signalled the potential for two 25 bps drops by the end of this year. Meanwhile, a 50 bps cut has pretty much been priced out, with STIR (short-term interest rate) markets seeing a 14% chance of a hold next month. Keep an eye out for NFP (Non-Farm Payrolls) data this coming Friday. This will probably be the next USD driver, along with the US elections next Tuesday. The Dixie continues to head north after weeks of ranging around the key support area at 100.157. We have spoken several times about a potential technically-driven retracement (despite the bearish fundamentals). Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. The latest strong NFP report has raised expectations for a 25 bps rate cut (instead of 50 bps), which is giving USD a boost in the near term. So, there is no extreme dovish pricing anymore. While the bearish bias remains, the dollar is gaining amid a broad pullback. This idea could prove even more relevant if Donald Trump wins the election on 05 November. Upcoming labour and GDP data will also be key in determining USD's long-term future. Euro (EUR) Short-term outlook: bearish. The STIR markets were predictably accurate as the European Central Bank (ECB) cut the interest rate recently. However, they remain data-dependent on what to do in the future (although they are quite concerned about slow growth). Also, the past week saw weaker economic data across various European nations. Finally, short-term interest rate markets have indicated an 84% chance of a rate cut in December. The euro has finally made its bearish intention known on the charts, breaking the key support at 1.07774 (but only just). We need to see how this level reacts this week - so it's not out of the question. Meanwhile, the key resistance remains far higher at 1.12757. Long-term outlook: bearish. The latest rate cut and the avoidance of indicating a clear future move for the December meeting are among the key down-trending factors. Furthermore, a threat of a trade tariff with Trump could be negative. However, any improvements in economic data (according to the ECB) would be a turnaround. So, we are changing our long-term bias from 'bearish' to 'weak bearish' now. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in its recent meeting. Still, the language indicates they need to be “restrictive for sufficiently long.” Also, the central bank's higher-ups stressed "a gradual need" to cut rates. As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Not long ago, Governor Bailey hinted that "aggressive rate cuts" were possible if inflation went lower. We mentioned that the current retracement may be the start of a more serious bear move. So far, that's what the pound is experiencing. The nearest key support is at 1.26156, while the resistance target is 1.34343. Long-term outlook: weak bearish. Sequential rate cuts by the BoE may soon be a reality. Also, weak CPI, labour, or GDP data should be expected to back up the bearish bias. To add further to this point, the last GDP print shows a poor UK economy. However, the central bank hopes for lower service inflation, which may provide relief. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited at some point. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan’s (BoJ) recent decision to hike the interest rate. STIR markets expect a hold at the next meeting on Wednesday (but a hike at the start of next year). ​​Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation (which has been on an upward trajectory). All of this backs up the potential for a rate hold or hike. The 139.579 support area is proving quite strong, boosting the yen since mid-September. Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one potential bullish catalyst for the yen (the opposite is true). Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks and worsening US macro conditions are JPY-positive Still, as a slight downer, near-term inflation risks subsiding (according to the BoJ) reduce the urgency for a rate hiking cycle. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) kept the interest rate unchanged during the Sept. 25 meeting. They further stated that they "did not explicitly consider rate hikes" for the future, which is a marginally dovish statement. The Aussie remains sensitive to China’s recent economic woes. However, high iron prices have supported the former. Finally, recent positive unemployment data gives a base case for a hold in the RBA interest rate meeting early next month. After failing to break the 0.69426 resistance level several times, the Aussie has retraced noticeably from this area. While this market looked bullish, this pullback does surprisingly indicate otherwise. Still, we are quite far from the major support level at 0.63484, but consider the interesting dynamic with the opposite fundamentals of AUD and USD. Long-term outlook: weak bullish. While the RBA hasn’t ruled anything out, the central bank isn’t explicitly suggesting rate hikes in the future. It’s crucial to be data-dependent with the Aussie, especially with core inflation as the RBA's key focus area. However, the Australian dollar is pro-cyclical, meaning it is exposed to the economies and geopolitics of other countries, especially China. New Zealand dollar (NZD) Short-term outlook: bearish. Unsurprisingly, the Reserve Bank of New Zealand (RBNZD) cut its interest rate by 50 bps recently and sees further easing ahead. This affirms another cut next month of potentially the same magnitude. Furthermore, the central bank is confident that inflation will remain in the target zone, adding more impetus to the bearish bias. Due to the rate cut, the Kiwi has been on a downward spiral, proving the strength of the major resistance level at 0.63790. Conversely, the major support is at 0.58498. Long-term outlook: bearish. The central bank's latest dovish stance (where it cut the interest rate) firmly puts the Kiwi in a 'bearish bracket.' They also revised the OCR rates lower and signalled steady winnings in the inflation battle. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) unsurprisingly delivered a 50 bps cut on Wednesday. Further cuts remain on the cards, with the long-term target being 3%. The BoC is signalling victory over inflation due to the cuts, with Governor Macklem suggesting that they would probably cut further until they achieve the optimal low inflation. In their words, 'stick the landing.' Overall, the bias remains bearish - expect strong rallies in CAD to find sellers. While the short-term fundamental biases of USD and CAD are bearish, CAD is weaker on the charts. USD/CAD is almost at the point of knocking on the key resistance at 1.39468, while the key support lies down at 1.33586. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. The Bank of Canada has recognised the lower economic growth, and Macklem wishes to see this increase. Furthermore, any big misses in upcoming GBP, inflation, and labour data will send CAD lower. Still, encouraging oil prices and general economic data improvement would save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25 bps rate cut (from 1.25% to 1%) recently. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The central bank's new Chair (Schlegel) said they "cannot rule out negative rates." Finally, the September CPI came in weak at 0.8%, against the expected year-on-year 1.1%. Still, the Swiss franc can strengthen during geopolitical tensions like a worsening Middle East crisis. USD/CHF has just broken out of the range (but only just) discussed in our last few reports. While remaining largely bearish, this market could return closer to the major support level at 0.83326 or climb its way to the higher major resistance level at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. Conversely, 'safe haven flows,' and geopolitical risks can positively support the currency. As with other central banks, inflation is a crucial metric in the SNB's policy rates. Conclusion In summary: The USD seems particularly strong (despite being fundamentally bearish), with the upcoming NFP release and US elections as the events to watch. This week's main high-impact news event is Wednesday's JPY interest rate decision. Our short and long-term fundamental outlooks remain unchanged from the last few weeks. As always, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term.
TVC:DXY
by CityTradersImperium_CTI
Idea for next week.The Dollar Index (DXY) is currently trading at $104.123, up by 0.10%, but hovers close to a key pivot point at $104.144. This level aligns with the 50-day EMA of $104.146, marking it as a critical zone for short-term direction. Should DXY break above $104.15, we might see upward momentum build, pushing toward immediate resistance at $104.281, with additional targets at $104.407 and $104.545. However, if the dollar falls below $104.144, support at $104.006 could be tested, with further downside risk toward $103.820. Traders should note that maintaining above the pivot is essential for sustaining a bullish trend in the near term.
TVC:DXY
by EZIO-FX
😱 COLLAPSE OF THE DOLLAR 2022 - 2045 - END OF EMPIREHello ladies and gentlemen! I bring to your attention my very global view of the US dollar solely from the point of view of technical analysis, namely the Elliot wave theory. The graph shows the projection of the missing waves in the impulse of the supercycle - I-II-III-IV-V, the impulse is fully completed and ended back in 1985. In my opinion, from the point of view of technical analysis and the Elliot wave theory itself, a zigzag has been forming globally on the US dollar index in the corrective phase since 1985, with a triangle in wave-(b). The ultimate goal of this zigzag is a collapse of the dollar index by minus -80% from ATH. Ultimately, the Fed will lose in the fight against inflation, after the triangle is fully formed, a descending impulse five will begin in wave-(c) of the zigzag, I believe around 2030 plus or minus the triangle will be broken down, this will be a distress signal and confirmation I'm right, from now on, save your savings, because after the dollar index finds a bottom in the region of 20-30 points, for 100 dollars you can only buy a roll of toilet paper. BRENT oil will be $300-400 per barrel, and gold $5,000-6,000 a troy ounce, and that's even better. Naturally, after this collapse, the dollar will lose its status as the world's main reserve currency, the economy will stagnate amid hyperinflation, it will be many times worse than the Great Depression, and the markets will remember this apocalypse for a long time. After the collapse of the US dollar, a new world order will be established, there will be a new leader and a new major world reserve currency. I believe this will end the approximately 250 year dollar cycle and the US Dollar Index will never again update its ATH. ❌ This trade idea should be reconsidered if DXY exceeds the 121 level, which is unlikely in my opinion. In this case, it will definitely not be a triangle. This is my purely personal author's opinion, whether you share it with me or not is your own business, always think with your own head - I wish you good luck!
INDEX:DXY
by AnonymousTraderAcademy
2
Depreciation of DXYGeopolitical conditions can help to increase the value of the currency to some extent, but eventually it will face a decrease in value. In this analysis, I compared different currency pairs such as EURUSD, GBPUSD, NZDUSD, AUDUSD with DXY, and the result is a decrease in the value of the dollar and a return to the previous value. Yes, we may see other short-term increases, but eventually the dollar will cause the growth of other currencies by reducing its price. Sasha Charkhchian
TVC:DXYShort
by sashacharkhchian
DXY Approaching a critical zone. After breaking down from its 2023 trendline, the DXY has rallied back to a convergence point at 104. This level is now a major pivot; if we start to see weakness and a breakdown through this zone into November, it could provide a much-needed tailwind for risk assets. My target on the downside is around 95-97, a level that could align with the top of the current crypto bull run. Keeping an eye on this level is essential, especially as we move toward the anticipated Q1-Q2 cycle top in crypto. Watching for any signs of reversal or further strength here to guide broader market positioning.
TVC:DXYShort
by Monument_
Dollar Index - Election Years Comes With Volatile SwingsThe U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index: Euro (EUR) 57.6% weight Japanese yen (JPY) 13.6% weight Pound sterling (GBP) 11.9% weight Canadian dollar (CAD) 9.1% weight Swedish krona (SEK) 4.2% weight Swiss franc (CHF) 3.6% weight US Dollar Slips, Business Spending Rises: The dollar edges lower despite a 4-week winning streak, as positive economic data dampens rate cut expectations. US business spending plans exceed expectations, while German business sentiment improves. 50/50 going into next week even though business has been conducted @ 104.450. There is still the potential for next weeks price action to attack the daily order block @ 104.801 whilst punishing buyers by continuing to sell-off to 103.444, a target previously mentioned last week.
TVC:DXY
by LegendSince
Unmasking DXY's Bullish Potential with Volume ProfileH ello, The unusually high market activity around the 100.5 level indicated strong bullish accumulation. The yellow ellipses highlight the volume and price levels. You can see that volume decreases both above and below this key level. This accumulation is evident because the price broke out of a bullish consolidation pattern, as shown in the left yellow circle, reaching a high of 103.9, indicated by the yellow line. This is the current level, where you may notice exceptionally high market activity. As the price remains above the green demand zone, the red supply zone may be tested, as suggested by the volume profile. Regards, Ely
CAPITALCOM:DXYLong
by Elysian_Mind
US DOLLAR time to SHORT?Hi Everyone! Excited to update a confirming possible longer higher time frame pullback on DXY, please refer back to my 2 education videos on TVC:DXY to see that what is happening now was indeed a possibility. I have another CAPITALCOM:SILVER trade on, Im sorry I did not have time to immediately update it here. We have a mine structure break on M5, which I cannot post for some reason because the time frame is too small. But its there, there is a confirmed structure break on Silver, Basically the important price level that must hold is right around 33.250. I Need to update a silver chart for you all. Because if price pullbacks in this zone, this will all of yalls opportunity to buy there again for a smaller Stop loss.
TVC:DXYShort
by ChameleonInvestments
2
Dollar Holding Steady For The Fourth Consecutive Week, Now What?Hey there, It's been a while since we saw the dollar run as smoothly as its running now, recovering more than 50% of its value since last quarter. However, this growth doesn't come without a concerning question, how sustainable is this run? With key payroll and inflation data due next week while also moving closer to the election we're likely to see a very active market in the coming weeks. So, to get an idea of whats happening and what you should prepare for check out today's video and begin taking advantage.
TVC:DXY
by DeanMuller