DXY IndexPair : DXY Index
Description :
Completed " 12345 " Impulsive Waves
Consolidation Phase
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Triple Bottom
DXY trade ideas
Will the US Dollar Index Collapse Below 100? Or Back To 105?The big day has arrived: the first Fed rate cut. The burning question is, will it be 0.25% or 0.5%?
In recent days, the markets have been leaning toward a 0.50% cut. Could this be the catalyst for a breakdown below the critical 100 level in the USDX? Let’s break down the charts and find out.
Looking at the weekly charts, the 100 level has been a solid support zone for several years, briefly dipping below last year in what turned out to be a false breakout within the 100 - 107 range.
I’ve highlighted some key levels on the charts: last year’s low at 99.47, and just below that, the 0.99 mark, which is a key Monthly 0.618% fib level and a strong former resistance turned support (see image below).
Below this level is a significant BUY zone, where the massive 2022 rally began, breaking through 100 and eventually driving the price up to nearly 115.
Considering these key areas, I do suspect we may see a breakdown through the 100 level, but it will likely be met with strong buying pressure at the areas mentioned. This is why, for now, I’m leaning toward the upside for the US dollar.
Zooming into the daily charts, an M pattern is forming at this key support, suggesting that price is gearing up to break through the 100 level.
Additionally, there’s a divergence emerging on the MACD, indicating that although a break below 100 might occur, it could be short-lived. This is why we should be looking for buy setups as the price dips under this level.
Zooming in further to the 6-hour charts, we can see the divergence even more clearly, with the MACD on the verge of a crossover to the upside.
With all of this in mind, a whipsaw move could be on the cards today after the rate decision. I’ll be turning on my TRFX indicator and watching for buy setups on dips under 100 and toward 0.99.
Although the USDX may weaken in the longer term, I fully expect a strong reaction at the levels mentioned, with the price likely to run back up toward the 103-104 area before selling off again.
Let me know your thoughts in the comments below!
Pre FOMC Rates Decision Analysis18th September
DXY: Consolidate around 100.90, (if 50bps cut) needs to break 100.60 to trade down to 100 round number support. (if 25bps cut) bounce from 100.60 to bearish trendline
NZDUSD: Buy 0.6220 SL 25 TP 75 (DXY weakness)
AUDUSD: Buy 0.6780 SL 20 TP 70 (DXY weakness)
GBPUSD: Look for test and reject of resistance area, Sell 1.32 SL 30 TP 80 (DXY strength)
EURUSD: Buy 1.1150 SL 25 TP 50 OR Sell 1.1110 SL 20 TP 50 (Straddle)
USDJPY: Buy 142.80 SL 50 TP 150 (DXY strength)
USDCHF: Sell 0.8420 SL 30 TP 45 (DXY weakness)
USDCAD: Sell 1.3560 SL 30 TP 60 (DXY weakness)
Gold: Could range between 2570 and 2590, Looking for a test of 2600 and possible correction lower
DOLLAR INDEX UPDATE
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Dollar is set for the huge sell offIt doesn't look good for the USD. Manipulation of 50% of the range (Fridays high expected, then down)
Accumulation / Manipulation / Distribution
- No liquidity raid = No trade
- Never buy high and never sell low
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
DXY Long trade ideaIm planning to long the US dollar index
Entry: 100.105 Stop Loss: 98.776 Take Profit: 102.757
USD Grasping to Higher-Low Ahead of the FedDXY pushed down to support to start the week with a strong push from USD/JPY bears testing the 140.00 handle. But - that breakdown couldn't hold and with the FOMC just about 24 hours away we've seen some short-covering ahead of the big day. In my view the big driver for the USD since the July high has been USD/JPY and that carry unwind theme, which I think will remain a major push point around tomorrow. A more dovish Fed with more cuts in the forecast gives USD/JPY longs more reason to unwind carry trades. A more prudent path could see continued short-cover from shorter-term bears. And EUR/USD may just be along for the ride as the European economy isn't exactly in a significantly better spot than the US and we'll probably be seeing more cuts from the ECB, as well. - js
It's DO or DIE tomorrow with the US Dollar and the FOMCI discuss the US Dollar index ahead of the FOMC tomorrow. How the Fed frames the next few months will determine of the US Dollar is in a range, or is about to fall aggressively. I map out the key levels ahead of the FOMC in the US Dollar index for tomorrow.
DXY: Strong Bearish Bias! Sell!
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 downside. So we are locally bearish biased and the target for the short trade is 100.706
Wish you good luck in trading to you all!
DXY BuyDXY two possible directions
For DXY to continue to the upside, two 4hr candle must close above 101.2. Target buy will be at 101.83
In my opinion, I will be on the DXY buy side.
Reasons:
1) DXY possible higher low point
2) Possible base fomation to the upside
3) Supply area at 100.5 pushed twice price to the upside
For DXY to continue sell, two 4hr candle must close below 100.9. Target for sell will be at 100.5.
Good luck and trade safe.
DXYthe move itself is quiet 5050 but the idea here is to wait for a good close on the daily or weekly to short EU AND GU if fundamentals dont cross
maybe this week maybe next
[DXY] USD seems to basing out within the channelWith FED & BOJ events this week, this thing TVC:DXY seems to be basing out and play around within the channel. Breakdown is possible with channel height as target price. Still neutral for now.
DXY SHORT SELL LONG BUY VIEW
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
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Levels discussed on livestream 17th September 17th September
DXY: Ranging between 100.60 and 100.90
NZDUSD: Buy 0.6220 SL 25 TP 50 (Hesitation at 0.6245)
AUDUSD: Buy 0.6740 SL 20 TP 40
GBPUSD: Look for test and reject of resistance area, Sell 1.32 SL 30 TP 80 (COUNTER TREND)
EURUSD: Buy 1.1145 SL 20 TP 55
USDJPY: (IHS) Buy 141.55 SL 60 TP 180
Trend Following: Sell 140.10 SL 30 TP 70
USDCHF: Sell 0.8420 SL 30 TP 45
USDCAD: Ranging 1.3565 and 1.36
Gold: Currently at 2584, could trade higher to 2600
DXY next move I see happening
I see day bouncing of the support below @100.500 and retracing towards the resistance above @101.200, it should continue the downtrend from there into further support below
DXY about to break down?The DXY looks like it could start to break down below 100. If we get a weekly close below the grey box I think we see stocks and crypto perform very well. FED interest rate decision coming up as well this week with markets expecting a cut in rates, combined with DXY breaking down, would be cause for a strong move up in markets. We could however, see a hard landing after a small spik.
DXY Price Analysis: Without a Clear DirectionDXY Price Analysis: Without a Clear Direction
Technical Analysis:
The price has moved inside a large-range trading pattern during the last month. The range movement is located between 100.50 and 101.90
Price is near to a key support zone. If it manages to rise again then it will develop an ABCDE pattern.
If the price rises for the "E wave" then it may easily reach 101.25 and the final target should be near to 101.90 which corresponds to a key resistance zone.
If the price breaks down of 100.50 then the odds are that it can move down to 100.13 and probably if the sell-off accelerates further it may reach 99.50
Fundametal analysis:
The market is focused on the FOMC meeting scheduled on Wednesday, September 18.
According to the rate cut and Powell's press conference the USD will take the news direction. That is why also DXY is showing both trading opportunities.
Thank you and good luck!
17.09.24 Morning ForecastPairs on Watch -
AUDNZD
XAGUSD
GBPJPY
AUDJPY
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
DXY LONG FROM SUPPORT|
✅DXY fell down sharply
But a strong support level was hit at 100.509
Thus as a rebound is already happening
A move up towards the target at 100.900 shall follow
LONG🚀
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USDX,DXYUSDX price is near the important support zone 100.68 - 99.89. If the price cannot break through the 99.89 level, it is expected that the price will rebound. Consider buying the red zone.
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Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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Could price bounce from here?US Dollar Index (DXY) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance that acts as a pullback resistance.
Pivot: 100.54
1st Support: 100.21
1st Resistance: 101.25
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US Dollar Into Support Ahead of FedThe US Dollar Index (DXY) is trading just above key support into the weekly open at 100.61/76- a region defined by the December low and the 2024 low-day close (LDC). Note that the lower parallel of the pitchfork and the objective September opening-range also converge on this threshold and further highlight its technical significance- looking for a reaction off this mark into FOMC with the immediate focus on a breakout of the monthly range.
A break / close below this pivot zone threatens another accelerated bout of losses toward the next major technical consideration at the 2019 high / 2023 low-day close (LDC) at 99.66/95 and the 61.8% retracement of the 2021 advance at 98.97.
Monthly-open resistance stands at 101.73 backed by the January LDC at 102.20- rallies should be limited to this threshold IF price is heading for a break lower. Broader bearish invalidation now lowered to 102.80/95. Keep in mind that we get the release of the updated interest rate dot-plot and economic projections from the Fed on Wednesday- expect increased volatility here. Stay nimble into the releases and watch the weekly close for guidance.
Michael Boutros
@MBForex
