USDX trade ideas
DXY Faces Continued Downtrend in Elliott Wave Bearish PatternThe Dollar Index (DXY) has experienced a significant decline since President Trumpโs tariff war intensified global trade tensions. From its peak on September 26, 2022, the Index has exhibited a clear bearish sequence. This decline aligns with an Elliott Wave structure, offering insights into potential future price action.
The current bearish sequence is unfolding as a corrective zigzag pattern, labeled ((A))-((B))-((C)). Waves ((A)) and ((B)) have completed, and the Index is now in the ((C)) leg. Wave ((C)) leg subdivides into a strong five-wave impulse to the downside. Based on Fibonacci extensions, the projected target for this decline lies between 85.5 and 94.9. This corresponds to the 100% โ 161.8% Fibonacci extension levels from the prior structure. This zone represents a critical support area where buyers may attempt to step in.
In the shorter cycle, the DXY is expected to face resistance in a 3, 7, or 11-swing corrective rally. As long as the pivot at 103.5 holds, the bearish momentum should persist, driving the index toward the Fibonacci target zone. Traders should monitor these levels closely, as a break above 103.5 could invalidate the immediate bearish setup, while continued failures at resistance reinforce the downside bias.
This Elliott Wave outlook suggests the DXY remains vulnerable, with the tariff warโs ripple effects continuing to pressure the dollar. Stay vigilant for price action near the 85.5 โ 94.9 range for potential reversal signals.
Daily Analysis- XAUUSD (Tuesday, 22nd April 2024)Bias: Bullish
USD News(Red Folder):
-None
Analysis:
-Current ATH at 2443
-Looking for pullback
-Potential BUY if there's confirmation on lower timeframe
-Pivot point: 3300
Disclaimer:
This analysis is from a personal point of view, always conduct on your own research before making any trading decisions as the analysis do not guarantee complete accuracy.
DXY: Strong Bullish Sentiment! Long!
My dear friends,
Today we will analyse GOLD togetherโบ๏ธ
The price is near a wide key level
and the pair is approaching a significant decision level of 98.127 Therefore, a strong bullish reaction here could determine the next move up.We will watch for a confirmation candle, and then target the next key level of 98.393.Recommend Stop-loss is beyond the current level.
โค๏ธSending you lots of Love and Hugsโค๏ธ
DXY Bearish Pennant Breakdown | More Downside Ahead?The U.S. Dollar Index (DXY) has broken down from a well-defined bearish pennant pattern on the 4H chart, signaling continuation of the prevailing downtrend.
๐น Technical Setup:
Pattern: Bearish Pennant
Breakdown Level: Below 99.00
Target: ~94.50 based on pennant pole projection
Confirmation: Clear follow-through after breakdown, low volume consolidation
๐น Fundamentals:
Weak U.S. economic data and dovish Fed expectations continue to weigh on the dollar.
Rising gold and commodity prices further support DXY downside.
๐ Outlook: As long as DXY trades below 99.00 resistance, bearish momentum is likely to extend toward the 94.50 target zone.
NOTE: This is not financial advice. Trade at your own risk. Always do your own research.
DXY TO RETRACE, BUYMy yearly target for DXY has been smashed in April, not even 6 months in, lol. The move was fast and brutal, many were left out.
Now I think we will see some cool off, a retracement or a range, dont hold trades as the market may range after such big move and I don't like holding a ranging market.
Learn to let your profit run, stop chasing few pips. Dxy fell thousands pips and you caught only 100 pips due to day trading, it doesn't make sense. Learn to see the bigger picture
My TP 1 is 99
TP 2 = 101.3
Enjoy
Follow me as my trades are market order, so you'll see it on time and enter at premium
EUR/USD Analysis: Weekly & Daily Timeframes
In this analysis, I explored the EUR/USD pair, identifying significant patterns and potential trade opportunities. The weekly timeframe shows a strong support level, while the daily chart highlights short-term resistance. Combining these insights with the DXY index, we can better understand market dynamics.
Elliott Wave Principles: A Study on US Dollar IndexHello friends, today we'll attempt to analyze the (DXY) US Dollar Index chart using Elliott Wave theory. Let's explore the possible Elliott Wave counts with wave Principles (Rules).
We've used the daily time frame chart here, which suggests that the primary cycle degree in Black weekly wave ((A)) and ((B)) waves have already occurred. Currently, wave ((C)) is in progress.
Within wave ((C)) in Black which are Weekly counts, Subdivisions are on daily time frame, showing Intermediate degree in blue wave (1) & (2) are finished and (3) is near to completion. Post wave (3), we can expect wave (4) up in Blue and then wave (5) down in Blue, marking the end of wave ((C)) in Black.
Additionally, within blue wave (3) Intermediate degree, we should see 5 subdivisions in red of Minor degree, which is clearly showing that waves 1 & 2 are done and now we are near to completion of wave 3 in Red. followed by waves 4 and 5, which will complete blue wave (3).
Key Points to Learn:
When applying Elliott Wave theory, it's essential to follow specific rules and principles. Here are three crucial ones:
1. Wave 2 Retracement Rule: Wave two will never retrace more than 100% of wave one.
2. Wave 3 Length Rule: Wave three will never be the shortest among waves 1, 3, and 5. It may be the largest most of the time, but never the shortest.
3. Wave 4 Overlap Rule: Wave four will never enter into the territory of wave one, meaning wave four will not overlap wave one, except in cases of diagonals or triangles.
Invalidation level is a level which is decided based on these Elliott wave Principles only, Once its triggered, then counts are Invalidated so we have to reassess the chart study and other possible counts are to be plotted
The entire wave count is clearly visible on the chart, and this is just one possible scenario. Please note that Elliott Wave theory involves multiple possibilities and uncertainties.
The analysis we've presented focuses on one particular scenario that seems potentially possible. However, it's essential to keep in mind that Elliott Wave counts can have multiple possibilities.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK๐
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
DXYDXY 99.418 Bearish Target โ Summary:
99.418 is likely a key support level or technical target based on chart patterns or retracement levels.
It marks a potential bounce zone or short-term bearish goal before deeper levels like 98 or 95.
Break below 100 and weak momentum indicators support the move toward 99.418.
If DXY holds above 99.418, it may trigger a short-term rebound.
DXY (US Dollar): Bullish Order FlowA bullish order block has been identified on the H1 timeframe, situated below the Asian session range. With the US Dollar maintaining steady strength, there is potential for price to retrace into this order block for mitigation. Should this occur, a continuation of the bullish trend is anticipated, with price likely to rally and break above the recent structural high.
Do Not Be Fooled TVC:DXY is not truly weak. Over the past 2 months the only thing mainstream Fin Media has been talking about is how Dollar value is plummeting and while I do not debate the merits o that I do take contention with the idea that this means the DXY Will KEEP going down significantly from here. From a pure TA perspective DXY is simply in a consolidation phase with a high level volatility which did not begin with the recent drop in March. I began watching DXy like a HAWK in November 2024 and for anyone who has not, the extreme volatility began then with DXY going on a rally from Nov 24 to feb 25. The move from Mach until now has been simply another leg of vol extension. This is important to realize because the volatility now points to higher levels of it eventually returning and when that happens I predict it will take the form of an explosive impulse to the upside based on the long term inverse head and shoulders pattern coupled with the near textbook bull flag pattern
DXY:Sharing of the Latest Trading StrategyThis weekโs trading wrapped up successfully. Our exclusive VIP trading signals achieved a 90% accuracy rate!๐๐๐
This week, the DXY was quoted at 100.0471. Technically, the index is in a downward channel. Focus on the resistance level of 100.8500. If it breaks through this level, there is a good chance of an upward movement; otherwise, it may test the recent low point. In terms of trading operations, it is recommended to mainly take short positions during rebounds. Trade with a small position size and also pay attention to the changes in economic data and the trade situation.
Trading Strategy:
sell@100.5000-100.2000
TP:99.5000-99.0000
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DXY Expected to Decline TomorrowDXY is expected to decline tomorrow, with potential for a maximum rise to the 101 resistance area accompanied by upper shadow formation.
A rising wedge pattern has formed, with stochastic in the overbought region, and there's a possibility of rejection at the dynamic resistance level.
Could this be DXY's fate amidst the dovish tentions? #FEDS๐ Most Likely Probability: Neutral-to-Slightly Bullish Bias
๐ Supporting Fundamentals:
Stronger-than-expected NFP: Suggests economic resilience โ supports dollar strength.
Fed holding rates steady (but no dovish pivot): Keeps real yields relatively attractive โ supports demand for USD.
Tariff/trade calm: Reduces tail risk, but also reduces safe-haven flow โ slightly neutral.
๐ Limiting Fundamentals:
Calmer global risk sentiment and improved outlook in emerging markets may reduce dollar inflows.
No fresh hawkish push from the Fed = limited fuel for strong breakout.
๐ Technical Outlook (DXY near 100.00):
Key Support: ~99.70โ100.00 (9-day EMA + psychological support)
Key Resistance: ~100.50โ101.00 zone
Momentum: Slight recovery attempts with weakening bearish momentum
If the DXY holds above 99.70 and breaks above 100.50, a move toward 101.00 is likely next week. Failing to hold 99.70 could open a pullback toward 99.00.
DXY:Sharing of the Trading Strategy for Next Week This weekโs trading wrapped up successfully. Our exclusive VIP trading signals achieved a 90% accuracy rate!
Recently, the economic data of the United States has shown mixed performance. The non-farm payrolls added in April were higher than expected, but the data for March was revised downward, and the number of initial jobless claims also exceeded expectations. Overall, the U.S. Dollar Index still has a trend of fluctuating. Pay attention to the resistance level of 100.3742 above and the support level of 99.2702 below. In terms of trading operations, it is mainly advisable to take short positions on rebounds.
Trading Strategy:
sell@100.3000-100.0000
TP:59.5000-59.0000
The signals in the Signature have brought about continuous profits, and accurate signals are shared every day. Hurry up and click to get them!
๐ ๐ ๐ Obtain signals๐๐๐