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Dollar 4hr Analysis1 Day Time frame Dollar has been bearish for a couple of days how, ever after reaching a major support zone last week, Dollar bounced back from the support and its currently on a minor uptrend Dollar: 4hr Time frame When i spotted the double bottom last week, i knew there is a high probability for dollar to rise from this support. This week, i expect dollar to continue to rise up to the 102.500 key area.Before we may possibly see the bearish continuation or breakout to the upside. Fundamentally, US FED may likely cut interest rate this month, which will push the price of dollar down
TVC:DXYLong
by Popeson
Daily Technical Analysis of Gold,Currencies,and Indices2/9/2024Daily Technical Analysis of Gold, Currencies, and Indices - 09/02/2024 Introduction Hello, I am Mohammed Qais Abdulghani, a financial market expert. Today, I am presenting my detailed outlook on the major currency pairs, commodities, and financial indices for Monday, September 2, 2024. This week, several significant economic data releases are expected to have a substantial impact on financial markets. These include the U.S. Manufacturing PMI, the Job Openings Report, the Non-Farm Private Sector Employment Change, Initial Jobless Claims, the Services and Non-Manufacturing PMIs, the U.S. Crude Oil Inventory Report, Average Hourly Earnings, the Non-Farm Payroll (NFP), and the Unemployment Rate. Analyzing these data points will help determine the inflation path and make informed decisions regarding future monetary policy. Analysis of the U.S. Dollar Index (DXY) This week, several important economic data points have been released in the United States, impacting the performance of the U.S. dollar and gold. Although the Federal Reserve’s preferred inflation measure came in below expectations in July, the U.S. Dollar Index saw an increase, exerting some pressure on gold. This immediate reaction might provide an opportunity for price correction, as the U.S. Dollar Index continues to trade within a major descending channel. Unless the index can break above the 102 level, any rise will be considered a correction. So far, staying below the 103.2 level indicates further correction, with possible declines to 100.3 and 99, based on upcoming economic data. Analysis of EUR/USD We observe that the EUR/USD pair is currently correcting and approaching significant support at the 1.1000 level. A break below this level could push the pair back into a downtrend toward 1.0851 and 1.0700 levels. The bearish scenario will only be negated if the pair manages to hold and rebound above 1.1000, which could lead to a rise toward 1.1200 in the near term. Analysis of GBP/USD The GBP/USD pair is nearing critical support levels at 1.3100. A break below this support could lead to a sharp downward move targeting 1.2970 and 1.2850 levels. To maintain the upward trend, the pair must stay above the 1.3100 level. Analysis of USD/JPY The USD/JPY pair is attempting to form a minor upward trend. If prices manage to break above 106 or 105 yen per dollar, we might see a rise towards the 149 and 153 yen levels. The bullish scenario will be invalidated if prices drop below 145 yen. Analysis of USD/CHF The USD/CHF pair remains under selling pressure. If prices stay below the 0.85100 level, the pair could decline further towards 0.83700. A break above 0.85100 could lead to an increase towards 0.84200. Analysis of AUD/USD The AUD/USD pair is attempting to enter a downward correction, but as long as prices trade above the 0.6700 level, the bullish scenario remains intact. A break below 0.6700 could push prices back to the 0.6500 level. Analysis of NZD/USD The NZD/USD pair maintains its upward stance as long as prices remain above 0.6250. The main scenario is a continued rise towards 0.6345 and 0.6450 in the near term. Analysis of USD/CAD The USD/CAD pair is trading under pressure, and as long as prices remain below the 1.3600 level, a continued decline towards 1.3450 and 1.3300 levels is expected in the near term. Analysis of GBP/JPY The GBP/JPY pair is under pressure, with prices staying below 196 yen potentially pushing the pair towards 184 yen. Exceeding the 196 yen level is necessary to alleviate selling pressures. Analysis of EUR/JPY The EUR/JPY pair is trying to break free from selling pressures. If it manages to surpass the 164 yen level, we could see increases towards 170 and 174 yen. However, as long as it stays below 164 yen, a decline remains possible. Analysis of EUR/GBP The EUR/GBP pair remains under selling pressure below the 0.84500 level, supporting a bearish scenario towards 0.83750 and 0.83 in the near term. Analysis of USD/TRY The USD/TRY pair faces selling pressures. A break below the 34 lira level could lead to deeper corrections towards 33.5 and 33 lira, while staying above 34 lira may provide an opportunity for a rise. Analysis of Bitcoin vs. USD Bitcoin remains under downward pressure, with prices staying below the psychological level of 60,000 USD, potentially targeting levels of 52,000 and 44,000 USD in the medium term. Analysis of Ethereum vs. USD Ethereum is trading under clear selling pressures, and as long as the price remains below 2,800 USD, further declines towards 2,200 and 1,600 USD may be observed. Analysis of Ripple vs. USD Ripple is attempting to relinquish its gains, with a break below the 0.55 USD level potentially driving it into a bearish wave towards 0.48 and 0.40 USD in the medium term. Analysis of Gold Gold is retreating following the release of the inflation index that came in below expectations. However, as long as prices remain above 2,460 USD per ounce, this is considered a natural correction. A breakout above 2,520 USD could lead to new highs towards 2,560, 2,600, and 2,700 USD. Analysis of Crude Oil Crude oil is declining, approaching a significant support area at 73 USD per barrel. Breaking this level could push prices towards 70 and 67 USD. Analysis of Silver Silver is nearing a crucial support level at 29 USD. Breaking this level could lead to a decline towards 27.5 and 26 USD. Analysis of Natural Gas Natural gas is trying to regain positive momentum, but staying below 2.20 USD may lead to a decline towards 1.80 USD. Analysis of Dow Jones Industrial Average The Dow Jones Index is maintaining its gains above the 41,000 point level, supporting a bullish scenario towards 42,500 and 44,000 points. Analysis of S&P 500 The S&P 500 Index is attempting to resume its upward trend. Surpassing the 5,700 point level could push the index towards 5,900 and 6,100 points. Analysis of Nasdaq 100 The Nasdaq Index maintains its bullish scenario towards 21,500 USD, with prices remaining above 19,250 USD. Analysis of Russell 2000 The Russell 2000 Index is attempting to resume its upward trend. Exceeding the 2,225 point level could push the index towards 2,320 and 2,440 points. Analysis of FTSE 100 The FTSE Index is attempting to surpass the 8,400 point level, potentially pushing it towards 8,600 and 8,800 points in the near term. Analysis of DAX 30 The DAX Index is maintaining its gains, with a possibility of targeting higher levels if it surpasses the main resistance level. Analysis of CAC 40 The CAC Index maintains its upward trend, with expectations to target levels of 7,900 and 8,200 points in the near term. Analysis of Nikkei 225 The Nikkei Index is trading within an upward scenario, with expectations to target levels of 40,000, 42,450, and 45,000 points in the medium term, provided it remains above the 37,000 point level. Conclusion This concludes the daily technical analysis session. Thank you for watching, and I wish you a successful trading day. Stay safe. This analysis was prepared by Mohammed Qais Abdulghani, a financial markets expert, based on current data and market trends. Please note that all strategies and analyses are subject to market changes, and it is advisable to stay updated with economic developments to make well-informed decisions.
TVC:DXY
by MohammedQais
Potential Bullish Outlook for DXYFundametnal Analysis: The TVC:DXY is expected to stay strong due to high interest rates and solid economic growth, with GDP at 3% and inflation at 2.9%. The labor market remains stable, and consumer confidence is robust, despite a negative trade balance. The Fed's potential rate cuts, if coupled with positive NFP and ADP reports, could sentimentally boost the USD further. Overall, the DXY is likely to maintain its strength, driven by favorable economic conditions and strategic monetary policy adjustments. Technical Analysis: The TVC:DXY is currently testing strong support around 100.691, with the potential for a rebound targeting resistance levels at 104.100 and 105.856 if the support holds. However, a breakdown below 100.691 could signal further bearish momentum, leading to a deeper correction. Alternatively, the index may remain range-bound between 100.691 and 104.100, indicating a period of consolidation until a decisive breakout or breakdown occurs. overral view:
TVC:DXYLong
by rTrader_official
DXY, what is next bro?DXY analysis 1/09/24💵 Few things about it: DXY is oversold and it has 4h and daily FVG higher + It just tested the bottom of the global range (almost 2 years in consolidation), and most likely it will bounce till dFVG, On 15m and 1h time frame, DXY has an uptrend (MS( ChoCH) and BoS) until the uptrend on 1h is not broken I will not consider reversal on DXY DXY and EUR always fill their gaps on high time frames, before they move further and the next move on DXY will be final, so most likely it will keep going higher till 0.5 zone ( equilibrium) of this global range ~103.2-103.4 area Considering all of this I will expect EUR and all pairs that trade against USD will be bearish unless the uptrend on 1h is broken with DOUBLE shifts only then i will consider DXY's reversal
TVC:DXYLong
by Almenio
2
USD Last week,light news, USD bounce during mid of last weekHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. As mentioned last week to be cautious on shorting USD , it came to play during midweek that there was a bounce. Nice. This week might see continued retracement to $102.25 area and let's see if there's more hint from this coming week's NFP for USD direction. A couple of high impact news for USD this week. Trade with care! Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXY
by Shadowing_The_Big_Boys
1
September US Dollar BullishnessAll stars aligned for dollar bullishness throughout September: - - Relative strength against US treasury bonds, gold, and the euro index = undervalued - Fund managers' net positioning is becoming increasingly bullish - Retail traders' net positioning is extremely bearish, which is a strong contrarian indicator - 10-year September seasonality = bullish - Price is breaking out of a high quality demand zone Have been long for approx. 1 week thus far and will maintain my position and look to trail stops as we gradually break through supply zones
CAPITALCOM:DXYLong
by benstarslang
King Dollar is Back!DXY surged this week, bolstered by strong U.S. economic data. Durable Goods Orders for July spiked by 9.9%, far exceeding expectations, while Q2 GDP growth was revised up to 3.0%, indicating robust economic activity. The labor market remained stable with Initial Jobless Claims slightly below forecasts and Continuing Claims steady. On the downside, the housing market showed weakness, with Pending Home Sales dropping by 5.5%, reflecting challenges in that sector. Despite this, the overall data supports a bullish outlook for the dollar. As we approach the next trading week, key support levels like 101.00-101.50 and last week’s highs will be critical areas to watch for potential long entries.
TVC:DXYLong
by trader9224