USDX trade ideas
DXY MARKET OUTLOOK!Price broke the retested a broken resistance price of 106.231 earlier week. It traded higher and closed at 107.490 heading forward this coming week we have lots of economic repost and announces from the FOMC board meeting. We also anticipate GDP report, personal spending & core PCE INDEX the anticipation of this reports can impact the market volatility. Technically, we’d likely get to see more bullish price action continuation of DXY which will now impact the 6 USD crosses (USDJPY,USDCAD,USDCHF,AUDUSD,EURUSD,GBPUSD. And possibly XAUUSD.
Weekend forecast for DXY (LTF)Price could move from internal range liquidity to external range liquidity.
But if it shows an institutional order flow shift, it could reach for the weekly bullish fair value gap before moving up
Weekend forecast for DXY (HTF)Price showing strong move to the upside. Next candle could be an up close candle for continuation.
But since price left a bullish fair value gap and purged a HTF liquidity level, it could also do external range liquidity to internal range liquidity move.
Will wait how LTF playout next week
DXY sell ideaThe DXY is currently experiencing bullish momentum as investors gain confidence in equities, largely influenced by Donald Trump's business policies. From a technical perspective, however, the price has retraced significantly into a premium area while sweeping liquidity. This suggests that we might start to see some selling opportunities emerge.
On this chart, the price has retraced to the 50% (premium area) of the imbalance or fair value gap, while also sweeping liquidity above. Additionally, the price is currently at the Monthly Order Block and aligns with the 0.618 Fibonacci level.
DXY upward momentum continuesDXY upward momentum continues, since US dollar is strenthing because of many fundamental reasons
USD outlookWatching the triangle closely—if the price breaks, shorting EUR, GBP, AUD, and NZD could present a strong opportunity. Patience is key as we wait to see how the new Trump administration shapes market dynamics. This is shaping up to be a solid long-term trade idea!
DXY - Long Term ScenariosDXY / Dollar is looking very strong and can break above resistance and target higher levels. A break of Support Level will open lower levels. MAs are coming closer and a cross will confirm Bearish move.
Best approach is to go from level to level rather than aiming for a swing move as sentiments can switch anytime.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
DXY Bearish OutlookThe price is anticipated to complete the five-wave motive structure to the upside, concluding its minor corrective pattern. Following this, it is expected to proceed with a larger corrective move, interpreted as wave (C), potentially targeting the low at 99.08.
El Sayed Owaidy, CETA, CFTe
DXY shortWe are now at the 0.5 fib again. Still possible it will reach the 618 fib but for now it looks like a nice shorting opportunity. If it breaks up the just try again from the 618 fib. For now im aiming to short till the 89.511 level to finish a wave 2. So this wave down could be a nice but opportunity for silver, gold, palladium and platinum. Lets see how it plays out. Let me know what you think
Why I was surprised some called for a cooling/correction of USD$
Daily & Weekly Below
Late last week and earlier this week, some traders & price predictors were giving their big 'scoop' about the Dollar correcting going into the start of this week. I didn't really buy it and here is why.
I knew that there was no real recent resistance for USDX at these current levels. In fact, absolutely nothing for 12 months.
I could also see that by late last week the Dollar had simply pulled back from its recent high at around 107.03 and yes even got over a whole number before pulling back and closing a little lower on 14 November. By last Friday 1 week ago the USDX (dollar index) was a mere 0.3% below 107.03. Also, look at the combined volume for last week and for that matter this week. Why and how would any instrument recede in price after all that weekly volume?
Whenever, I make a call on the USDX, I am acutely aware of its wide influencing price behaviour on currency pairs, gold price and even Crypto and other commodities.
Making calls on the dollar should be reserved for those who properly pull the chart apart and study the price-action with leading-indicators, not some sort of on the run call like "the dollar looks like selling, its a bit overbought". Theres no such thing as over bought when an instrument is rallying.
I said the USD was BREAKING OUT back when it was around 100 prior to Gold's breakout. I had concerns over RSI Monthly Oversold levels and I could see historically when this had happened to the Dollar (on a USDX chart with monthly RSI levels plotted) that this occurrence had preceded a major breakout in the USD$. Multiple times at different periods going back only several years.
Perhaps, next time give us your reasons why the USD is correcting and taking a break, that we can see how sound your technical analysis trading methods might be.
Don't do something for example Bloomberg recommends in a headline, I am not picking on Bloomberg but the entire trading news, who really don't have a clue and are chase headlines.
USD INDEX - My 5 Cents @ Year End20SMA - Blue
200SMA - Pink
Key Confluence Areas - Grey Lines
Market Structure Support/Resistance - Green/Red Dashed Lines
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How I see it:
Upwards we see Range Bound Confluence of Resistance +
Overlapping Resistance above 108...
** WILL WE BREAK OUT THIS YEAR?
** WILL WE RESPECT THE RANGE AGAIN?
I deeply appreciate you taking the time to study my analysis and point of view.
KEYNOTE:
The most important to consider always, before you leap:
When you jump in the river, make sure you are swimming "WITH" the current!!
DXY ShortBased on the previous analysis using a higher timeframe, I have analysed that we expect a bearish momentum from this trade.
Based on the 15 min timeframe, the price has retested and rejected the zone, forming an inverted hammer candlestick. I do anticipate that a bearish momentum is been formed.
Entry price at 106.9, SL at 107.2 and Target at 105.5
DXY ShortThis currency has been forming a descending flag, broke out of the structure and retested the higher high formed last week.
It has made a false break out (liquidity grab) and I anticipate that the price will build a bearish momentum to fill the second gap created by the previous week bullish impulse.
An analysis will follow using a shorter time frame.
DXY INTREST RATE HIGH ATRACTING MORE BUYERS AT IT IS IN DEMAND The U.S. Dollar Index (DXY) measures the strength of the U.S. dollar against a basket of major foreign currencies, including the euro, yen, and pound. it looks stronger as it has printed two monthly bullish candles which indicates that there is demand of the DXY as it had a high interest rate from the Central Banks. Technically we are looking for more buys.
Waiting for DXY bearish confirmationWednesday has taken out Monday's weekly highs so I anticipated a bearish DXY but bullish momentum is still continuing. Still not seeing a bearish confirmation closure.
DXY BUY ANALYSIS DOUBLE BOTTOM PATTERN Here on DXY price form double bottom and now likely to go up so if line 107.553 break price is likely to go up more and trader should go for LONG and expect profit target of 110.552 and 114.599 . Use money money management
DXY- Will reach soon to 96.5-97 as a C Wave in Weekly TFDISCLAIMER : All labelling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
DXY Trading Journal DXY Trading Journal
Nov 21
Opened lower creating equal lows, to expand to the buys side scooping up Tuesday/Mondays buy stops. Breaker pattern of accumulation.
bearish on the day looking shorts. Price closed around the 50% and currently dropping.
London started off a reversal and NY retracement leading to Asia seems likely to consolidate and expand to the down side reaching for equal lows and sell side efficiencies .
