DXY starting the next leg downSo it appears. Will smash through the key level of 100 and onto the 94 area.. The dollar moves have massive ramifications for every financial asset , commodity & currency. lets see what it gives us. Shortby BallaJiUpdated 1137
"Projected Bearish Trend in U.S. Dollar Index Amid Geopolitical This chart of the U.S. Dollar Index (DXY) is from TradingView, showing data up to August 3, 2024. The chart indicates a strong bearish trend in the value of the U.S. dollar against a basket of other major currencies. Key observations and potential reasons for this trend include: Current Value: The DXY is currently at 103.220. Key Levels: 95.360: Marked as a significant support level expected to be breached. 79.558: A lower support level that the index might reach around 2028. Pattern Formation: The green rectangle indicates a consolidation period where the DXY has been trading sideways. A purple downward trend line suggests a long-term bearish trend. Future Projections: The chart projects that the DXY could fall below the key support levels of 95.169 and 79.408 by around 2028. Further downtrend is projected beyond 2028, potentially reaching the 72.745 and 65.000 levels by 2030. Main Cause: Geopolitical Tensions The primary reason for such a bearish outlook on the U.S. dollar could be attributed to geopolitical tensions, particularly the war situation in the Middle East and the involvement of the USA in regional conflicts. These factors can lead to economic instability, increased military expenditure, and potential disruptions in trade, all of which negatively impact the value of the U.S. dollar.Shortby Bitcoin_King011
Dollar Index is consolidating at Range Dollar Index is consolidating at Range. Currently in downtrend in H4 chartShortby ZYLOSTAR_strategy6
DXY coold down before going up. Inv H&S pattern.The TVC:DXY is experiencing a cooldown, as indicated by the MACD. It was overbought and needs to relax a bit. However, this is not a reversal; it is just a reaccumulation. The inverse head and shoulders pattern suggests a target of $106 if the pattern stops at the bottom of the right shoulder, returning to its previous level and ready for more uptrend. A buy in the green zone is a safe entry. Always do your own research (DYOR). This is just chart analysis, not financial advice.Longby CryptoNikkoidUpdated 117
R2F Weekly Analysis - 3rd August 2024 (ICT Concepts)Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. I'm going to go through various assets/markets, and give a real-time view of how I perform my analysis on the weekends. I'll give my take on what has been happening, and what I'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it! - R2FShort04:10by Road_2_Funded1
The collapse of US stocks across the board, is this a sign of a 8.2 US stocks collectively plunged Qualcomm fell 9% Nvidia fell 6% Tesla 6% Philadelphia Semiconductor Index fell 8% Intel fell short of expectations Is the above directly related to the news of interest rate cuts in September? The answer is "YES" What do you think of this comment area? Welcome to commentShortby David_strategyUpdated 0
DXYHey Guys. As you can see, I am very bullish on the dollar at the moment.Longby SignalSage_BenUpdated 3
Will the dollar continue to fall?Market trends and analyst Ang Kar Yong, according to the CME Fed watch Tool, the market currently expects the Fed to cut interest rates in September with a probability of nearly 100%. Overall, the market expects the Fed to cut interest rates twice before the end of the year. If the July non-farm report is lower than market expectations, the unemployment rate rises and/or average income growth slows, the probability of the Fed cutting interest rates more than twice before the end of the year will increase. This will undoubtedly bring additional bearish pressure to the US dollar index.Shortby David_strategyUpdated 0
DXY USD INDEX - LONGAfter correction are completed as ABC we will look for long direction to shaded area next week, DXY is a consolidation on highly time frame from a long time so the direction is not clear so we should be carful in trading and strictly apply risk management . Good luckLongby The-Engineer-7Updated 9
Greenback on the Brink?The U.S. Dollar Index has drifted for more than a year, but now some traders may look for a move to the downside. The first pattern on today’s chart (using 2-day candles) is the pair of converging lines since late 2023. DXY broke this pattern in early July, which may suggest it’s getting ready to move. Second is the tight range between 104.8 and 104. The higher level was support in early July and resistance later in the month. The lower level was support in early June and is now giving way. We next turn to the Euro-U.S. dollar pair, with a sequence of lower highs broken last month. It also made a higher low after retracing a little more than half the June 26-July 17 move. That may confirm a new uptrend is taking shape (which in turn would be negative for the greenback). These technical patterns may be especially impactful given July’s weak economic data and the widening belief the Federal Reserve will cut interest rates next month. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.by TradeStation9
US Dollar Index Daily TF DXY None Farm Payroll outcome from 13:30 today U.S PRIVATE NONFARM PAYROLLS (JUL) ACTUAL: 97K VS 136K PREVIOUS; EST 148K U.S PARTICIPATION RATE (JUL) ACTUAL: 62.7% VS 62.6% PREVIOUS U.S MANUFACTURING PAYROLLS (JUL) ACTUAL: 1K VS -8K PREVIOUS; EST -1K U.S AVERAGE WEEKLY HOURS (JUL) ACTUAL: 34.2 VS 34.3 PREVIOUS; EST 34.3 U.S GOVERNMENT PAYROLLS (JUL) ACTUAL: 17.0K VS 70.0K PREVIOUS looks like it is going to close below 104.018 The DXY has dropped 100 pips following the non-farm payroll results and is expected to close below 104.024, indicating a bearish trend. Consequently, EUR/USD, GBP/USD, and GOLD are likely to swing bullish. My area of interest is around 102.959, where I anticipate a rejection due to the presence of a -0.27 Fibonacci level and an order block. This should lead to a pullback before resuming the bearish trend to create new lower lows. Gold 4hr TF Gold is moving higher as a result of the non-farm payroll outcome. I expect this upward trend to continue until it hits my area of interest at 2,482, where I anticipate a rejection. After this pullback, I foresee gold resuming its upward movement to achieve a new all-time high (ATH).https://www.tradingview.com/x/tuk0BSO7/Shortby ChartStrategist0
dxy , It will come downThe blue oscillation range has fallen below the lower boundary and continues to decline, indicating the beginning of a major cycle of depreciation for the US dollarShortby trade16380
DXY Will Go Up From Support! Long! Here is our detailed technical review for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 104.544. Taking into consideration the structure & trend analysis, I believe that the market will reach 105.173 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 114
Pre NFP Analysis2nd August (NFP Pending) DXY: could see weaker NFP (155k), DXY to retest 104.45, reject to trade down to 104 round number. Could trade down to 103.65 if <155k. NZDUSD: Sell 0.5910 SL 15 TP 45 (DXY strength) AUDUSD: Buy 0.6505 SL 20 TP 60 (DXY weakness) USDJPY: Sell 148.40 SL 50 TP 210 (Hesitation at 147.30) or Buy 149.75 SL 50 TP 220 (Double Bottom) GBPUSD: Sell 1.2690 SL 20 TP 70 (Pre news) EURUSD: Buy 1.0825 SL 20 TP 60 (DXY weakness) USDCHF: Sell 0.8740 SL 20 TP 60 USDCAD: Sell 1.3885 SL 20 TP 60 (DXY weakness) Gold: Could retrace to test 2450 then rebound to 2480by JinDao_Tai7
DXYDollar possibility,waiting for it to fall even more so that we can see potential buying opportunity. Longby CurrencyMomentumFX1
The US Jul ISM manufacturing index fell to 46.8The US Jul ISM manufacturing index fell to 46.8, the lowest since Nov 2023 (cons. 48.8, prev. 48.5). Additionally, the final Jul S&P Global PMI manufacturing index was slightly higher than the preliminary estimate but still indicated contraction, reflecting the industry's struggles amid lower demand and high interest rates. This contraction could prompt the Fed to cut rates, potentially weakening the dollar.by Exness_Official0
Possibility of correction According to the behavior of the index in the current support range, possible scenarios have been identified. If the support range is broken, the continuation of the downward trend is likely Shortby STPFOREX0
bulls and bear!!doesn't it seems like usd index is overbought now...….waiting for payroll, since all those new were negative from USD index though couldn't drive other currency much as expected.....i am looking for long now for EUR and GOLD. but only after some breakeven.Longby dasamryt0
USDX, DXYUSDX, DXY prices are in the support zone 104.04- 103.59. If the price can stand above the 103.59 level, it is expected that there is a chance that the price will rebound. Consider buying a red zone. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea! *Always follow your trading plan regarding entry, risk managementLongby Serana2324Updated 111143
Bearish reversal?US Dollar Index (DXY) is rising towards the pivot and could reverse to the 1st support. Pivot: 104.54 1st Support: 104.05 1st Resistance: 104.81 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.Shortby ICmarkets10
US Dollar Index (DXY) Rangebound Ahead of NFPThe US Dollar Index (DXY) saw a big selloff Wednesday as the Fed emphasized the downside risks in the labor market. Moving forward, the key level to watch will be the 4-month low near 103.65. If we see a soft jobs report, traders could increase bets on a more aggressive 50bps interest rate cut from the Fed, taking the greenback below its key support zone in the mid-103.00s. Meanwhile, a solid jobs report could alleviate some of those immediate fears and take DXY back toward the weekly highs in the upper-104.00s. -MWby FOREXcom0
Dollar Index (DXY): Bearish After The News The today's fundamentals are very bearish for Dollar. I think that a bearish rally will continue and a breakout of a key daily horizontal structure support is valid. We can expect a bearish movement to 103.7 ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader118