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Daily Technical Analysis of Gold,Currencies,and Indices22/8/2024Daily Technical Analysis of Gold, Currencies, and Indices - August 22, 2024 Introduction Welcome, I am Mohammed Qais, a financial markets expert, presenting you with a detailed analysis of key currency pairs, commodities, and financial indices for today
Thursday, August 22nd. The markets are awaiting significant economic data that could influence price movements, particularly the U.S. dollar. This data includes unemployment claims, the manufacturing and services PMI, and existing home sales. Additionally, the markets are closely watching the much-anticipated speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium on monetary policy and economic conditions. DXY - U.S. Dollar Index Analysis The U.S. dollar continues to show a bearish technical outlook as it remains under selling pressure ahead of the release of crucial economic data. The ongoing trading below the 10500 level suggests a further decline to lower levels. EUR/USD Analysis The EUR/USD pair continues to gain, supported by the weakening U.S. dollar. If the price successfully consolidates above the 1.1000 level, the upward trend may continue, targeting higher levels. GBP/USD Analysis The GBP/USD pair remains in a positive trading stance. If it breaks the 1.3500 level, we could see the continuation of the upward trend targeting 1.3250. USD/JPY Analysis The USD/JPY pair is declining and approaching a significant support level at 145 yen. Breaking this level could lead to further declines towards 144 and 134 yen. USD/CHF Analysis The USD/CHF pair has broken the 0.85 level, indicating the potential for continued weakness towards the 0.83 level. AUD/USD Analysis The AUD/USD pair maintains a positive outlook, with prices holding above the 0.667 level, supporting the upward trend towards 0.69. NZD/USD Analysis The NZD/USD pair’s stability at the 0.600 level suggests a continuation of the positive trend, targeting 0.63. USD/CAD Analysis The USD/CAD pair remains under pressure, and if it breaks the 1.36 level, we may see a decline towards 1.343. The Canadian dollar is supported by the U.S. crude oil inventory report, which showed a significant decrease. GBP/JPY Analysis The GBP/JPY pair’s continued trading below the 126 yen level indicates the potential for further declines towards 184 yen and possibly 170 yen in the medium term. EUR/JPY Analysis The EUR/JPY pair’s continued trading below the 166 yen level suggests the possibility of a decline towards 158 and 152 yen. EUR/GBP Analysis The EUR/GBP pair’s continued trading below the 0.85500 level indicates the potential for a decline towards 0.84500. USD/TRY Analysis The USD/TRY pair continues to gain, targeting 34.5 lira and possibly 35 lira. Bitcoin/USD Analysis Bitcoin is trading sideways around the 60,000 dollar level. Breaking this level could lead to a rise towards 68,000 and 75,000 dollars, while failure to do so could see Bitcoin fall back to 50,000 dollars. Ethereum/USD Analysis Ethereum is under pressure, with prices continuing to trade below 2800 dollars, indicating the potential for a decline towards 2000 dollars. Ripple/USD Analysis Ripple is holding at 55 cents, supporting an upward move towards 75 cents. Gold Analysis Gold’s failure to break the 2520 dollar level may lead to a slight correction towards 2460 dollars, but the overall upward trend remains as long as prices trade above this level. Oil Analysis Crude oil prices face significant support at the 73 dollars per barrel level. Breaking this level could lead to a decline towards 70 and 67 dollars per barrel, while a return above 77 dollars could restore bullish momentum. Silver Analysis Silver is holding support at the 29 dollars level, which could support a rise towards 30.5 and 32 dollars. Breaking below 29 dollars may lead to a deeper correction. Natural Gas Analysis Natural gas stability at 2 dollars and 2 cents suggests a potential decline towards 1 dollar and 6 cents if the downward trend continues. Dow Jones Index Analysis The Dow Jones Index may fail to surpass the 41,000 point level, potentially leading to a corrective bearish wave targeting 40,000 points. S&P 500 Index Analysis The S&P 500 Index could rise if it holds above 5601 points, targeting 5680 points; otherwise, it may return to test the 5500 point level. Nasdaq 100 Index Analysis The Nasdaq 100 Index maintains its upward momentum, holding above 19,250 points, with the potential to continue rising towards 21,200 points. Russell 2000 Index Analysis The Russell 2000 Index could confirm a move towards 2,250 points if it breaks the resistance at 2,225 points. FTSE Index Analysis The FTSE Index remains stable at 8,150 points, with the potential to rise towards 8,400 and 8,600 points in the medium term. DAX Index Analysis The DAX Index remains stable at 18,200 points, targeting levels of 18,650 and 19,400 points. CAC Index Analysis If the CAC Index surpasses the 7,600 point level, it could target levels of 7,900 and 8,200 points. Nikkei Index Analysis The Nikkei Index maintains its positive momentum above 37,000 points, with the potential to rise towards 41,000 points if it continues to hold at this level.s
TVC:DXY
by MohammedQais
DXY - somewhere in high time frame demand zone 101.700 - 100.600 is the demand zone on weekly time TF price has pierce down in the demand zone to its mid's the last 4 days of downfall was sharp that it has left only one resistance that could be noted on 103.250 what are the sign to start building long >>> * just on the top of demand zone we have a daily bearish fvg marked (in red) if we have any coming day break that zone with one strong bullish candle will grab the confidence of the bulls * meanwhile with 100.900 low could be sweeped or tested * if that one candle breach that bearish fvg we likely see new daily Order block which will like fuel station to built one by one instead of putting full quality at once --------------------------------------------------------------------------------------------------------------------- yellow line = prediction line red zone = bearish fvg green zone = high time frame demand orange zone = time time frame supply more updates will be done on the comment as per the action goes further
TVC:DXYLong
by Jimmy_Rebello
DXY, you are such a good boy! 🎤 Hi, Guys! 🫡 💡Here is one of the reasons for the current rally in crypto and in the market of small-caps to your attention. At the moment, all analysis methods have converged at one point. 💭I believe that in the coming months we will see a cheaper dollar, which will create a boost for the growth of risky assets on the eve of the electoral race. ⚙️We have a downward wave structure indicating the formation of the last motive wave of correction (C), as well as a classic technical analysis pattern - Head and Shoulders. In addition, the index has dropped below 200MA and it has every chance of continuing to decline after testing this moving average. 😎 let's see how this turns out 🍿 Shaka 🤙 TVC:DXY INDEX:DXY CAPITALCOM:DXY BITSTAMP:BTCUSD BINANCE:BTCUSD
TVC:DXYShort
by shakatrade1_618
1
SasanSeifi| Mid-Term Bearish Outlook for Dollar Index! (5Day)Hey there, In the 5-day long-term timeframe, the TVC:DXY faced a correction from the supply zone around $106.500. After some minor fluctuations within this range, the price, failing to stabilize above the $106 level, encountered a renewed downtrend from the bearish order block. Currently, a strong bearish momentum is observed, and the midterm outlook remains predominantly bearish. It is expected that, in the midterm timeframe, the price will move toward the identified demand zone, with a potential decline to the corrective target around $99 to $98.73, especially after breaking the $100.600 to $100 range. Once this area is reached, there is a possibility of a positive price reaction. To better understand the future movement of the Dollar Index, it's crucial to closely monitor how the price reacts to these corrective targets. However, if the downtrend continues and the $98 level is breached, and the price stabilizes below it, the next corrective target could be around $97.50 to $96. To better understand the future movement of the Dollar Index, it's essential to keep a close watch on how the price reacts to these corrective targets. 💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions! Happy trading!✌😎 Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
TVC:DXYShort
by SasanSeifi
Jackson Hole Preview: Fed Chair Powell in the SpotlightTomorrow marks the opening of a three-day annual event in Jackson Hole, Wyoming, a gathering of key central bankers that the world and financial markets will monitor closely. This year’s event is titled: ‘Reassessing the Effectiveness and Transmission of Monetary Policy’. Ahead of this week’s annual meeting, Minneapolis Fed President Neel Kashkari made the airwaves, stating he is more open to lowering the Fed funds target rate in September. In an exclusive with the Wall Street Journal, Kashkari commented: ‘The balance of risks has shifted, so the debate about potentially cutting rates in September is an appropriate one to have’. Mary Daly, San Francisco Fed President, echoed a similar sentiment, noting a ‘gradual approach’ to lowering borrowing costs as recent economic data has given her more confidence that inflation is heading in the right direction. The threat of a weakening labour market has seen the pendulum swing in favour of lowering the Fed funds target rate at September’s meeting. You may recall the July jobs report observed broad weakness. Employment growth in the US added just 114,000 new payrolls, comfortably lower than the market’s median estimate of 175,000 and easily south of June’s downwardly revised 179,000 print. The US unemployment rate reached 4.3% in July, its highest rate since October 2021, triggering the ‘Sahm Rule’ (former Fed economist Claudia Sahm’s recession indicator). Of note, the jobless rate has increased by nearly a whole percentage point in a year. Additionally, wage growth shrunk to +0.2% between June and July, with average hourly earnings easing to +3.6% over the year in July, down from +3.8% in June. 25 Basis Point Cut? The question for many traders and investors is whether the Fed will opt for a 25 basis point rate cut or a more audacious 50 basis point cut. Following the release of the July jobs numbers, there was chatter among investors about emergency rate cuts to avoid a recession. However, while it is clear that the jobs market is slowing, the US economy is not in a recession yet. The Federal Reserve Bank of Atlanta GDPNow estimate suggests the US economy is growing at an annualised rate of +2.0%. Furthermore, according to the Advance Estimate from the Bureau of Economic Analysis, real GDP increased at an annual rate of +2.8% in Q2 24 (following real GDP increasing +1.4% in Q1). According to the markets, there’s a 70% chance of a 25 basis point cut currently priced in for September and a 30% probability of a 50 basis point move. The pace at which the Fed eases policy will be a point of interest for traders and investors at this week’s event; US Federal Reserve Chairman Jerome Powell is expected to reiterate his dovish stance in his appearance on Friday at 10 am ET (the Bank of England’s Governor Andrew Bailey is also scheduled to speak on Friday, with an appearance from the European Central Bank’s Philip Lane on Saturday). Powell’s recent commentary emphasised a possible rate cut should inflation and the jobs market cool. According to the July Consumer Price Index (CPI), released by the Bureau of Labor Statistics, headline inflation eased more than expected to +2.9% in the twelve months to July from +3.0% in June (consensus: +3.0%). Of course, there is no guarantee that Fed Chair Powell will say anything of note at this week’s gathering. While there have been times when central bank speakers have used this occasion to make announcements, this is not always the case. Nevertheless, should the Fed Chief make any waves, it is worth noting that the US Dollar Index is heading into this event ‘on the ropes’, down -2.4%, and with room to continue exploring deeper waters, according to the technical landscape. Dollar Index Ahead of the Event As expected, the US Dollar Index has been on the back foot of late, making easy work of notable support levels. From the monthly chart, price action left resistance at 109.33 unchallenged and is fast approaching familiar support at 99.67. This is a level that boasts additional technical confluence from the 50-month simple moving average (SMA) at 99.86 and two nearby Fibonacci retracement ratios coming in at 98.72ish. Also of technical relevance is the Relative Strength Index (RSI), which recently crossed south of the 50.00 centreline, indicating negative momentum on the longer-term chart. On the daily chart, price elbowed through key support at 101.78 on Tuesday, with the level now marked as possible resistance. Looking ahead, the next layer of support falls in at 101.01. Ultimately, these levels will be key in the short term from a technical standpoint. A retest at the underside of resistance makes ‘technical sense’ in light of the current downtrend and could draw bearish interest.
TVC:DXYShort
by FPMarkets
DXY Is Bullish! Buy! Take a look at our analysis for DXY. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 101.503. The above observations make me that the market will inevitably achieve 102.220 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYLong
by SignalProvider
1
Levels discussed on Livestream 21st August21st August DXY: Look for retracement to complete, continuation of the downside, below 101.30 could trade down to 100.80 (hesitation at 101.10) NZDUSD: Buy 0.6170 SL 20 TP 45 AUDUSD: Looking for reaction at 0.68 resistance level GBPUSD: Buy 1.3055 SL 40 TP 80 EURUSD: Buy 1.1150 SL 30 TP 100 (hesitation at 1.12) USDJPY: Wait for retracement to complete before continuation to downside. USDCHF: Sell 0.85450 SL 20 TP 40 USDCAD: Buy 1.3650 SL 20 TP 40 Gold: Below 2500 could trade lower to retest 2480 support, look for reaction there.
TVC:DXY
by JinDao_Tai
Dollar could be trapped within huge consolidationMarket corrections are tricky and in this post you can see why. Dollar index weekly chart shows signs of large sideways consolidation (aka flat correction, range) after a strong drop marked with the orange down arrow 1. This consolidation passed halfway as we can see all first moves are completed. The first major yellow counter-move is done; it will be connected with the last yellow upmove through two white and two red counter-moves. Why corrections are tricky? Because they last longer than many think, usually longer than the preceding move. Currently, first legs took the same time as the whole first orange leg down, therefore it will take almost same amount of time furthermore. After completion, the second orange leg down could resume to hit $93 (orange leg 1 = orange leg 2) or even lower to retest the valley of Y2021 at 89.6
TVC:DXY
by aibek
Long Term DXYYearly, Monthly, Weekly basic FVG levels after a clear swing high or low. Fractal Fibonacci sequence levels (yellow lines), showing two fractals 0-144 and a larger fractal 0-1440. Gann Box values are 0, 0.5,1 plotted with a calendar year for the time axis and $10 for price (0-10, 10-20, 20-30 etc). Roughly drawing the anticipated paths in red and green pen. I'd like to think the USD will flex here over the next few months and likely well into next year...RIP crypto?
TVC:DXYLong
by afinalboss
1
Short-Term Technical Analysis For Gold-21/8/2024Daily Technical Analysis of Gold, Currencies, and Indices - August 21, 2024 Introduction Welcome, I am Mohammed Qais, a financial markets expert, presenting you with a detailed analysis of key currency pairs, commodities, and financial indices for today. First, let’s look at the key economic data expected to be released today, which are likely to impact price movements, including the U.S. crude oil inventory report and the Federal Open Market Committee (FOMC) minutes. Analysis of the U.S. Dollar Index (DXY) The U.S. Dollar Index continues to trade under pressure, remaining below the 103 level and the 55-day moving average, which weighs heavily on the index. If the index breaks below 103.50, we may see further selling pressure on the U.S. dollar, potentially pushing it to lower levels. Analysis of the EUR/USD Pair The EUR/USD pair continues to rise, stabilizing above the 1.1000 level, signaling a positive scenario aimed at targeting higher levels. Analysis of the GBP/USD Pair The GBP/USD pair has risen above the 1.3000 level, reinforcing a positive outlook. If the price surpasses 1.3050, we expect to achieve a target of 1.3250. Analysis of the USD/JPY Pair The USD/JPY pair is currently under pressure. If the price drops below 155 yen, further declines are expected, targeting 140 yen and 134 yen in the medium term. Analysis of the USD/CHF Pair The USD/CHF pair is experiencing ongoing selling pressure. Remaining below the 0.87250 level suggests further potential declines, targeting 0.85 and 0.84100 in the medium term. Analysis of the AUD/USD Pair The AUD/USD pair maintains its upward momentum, with prices holding above the 0.66 level, supporting the continuation of this upward trend and the possibility of targeting the 0.69 level in the medium term. Analysis of the NZD/USD Pair The NZD/USD pair also maintains its upward momentum, with prices holding above the 0.60 level, indicating the potential to target the 0.63 level in the medium term. Analysis of the USD/CAD Pair The USD/CAD pair faces significant support at the 1.36 level. A break below this level could lead the pair into a downward trend, targeting 1.34500 and 1.33 in the medium term. To avoid this potential decline, the pair must hold above 1.36000. Analysis of the GBP/JPY Pair The GBP/JPY pair is under downward pressure, with prices trading below the 196 yen level, putting the pair at risk of falling back towards 184 yen, and potentially weakening further to target 170 yen in the medium term. Analysis of the EUR/JPY Pair The EUR/JPY pair is experiencing continued downward pressure, with the 166 yen level still acting as strong resistance. The pair risks falling towards the 158 yen and 152 yen levels in the medium term. Analysis of the EUR/GBP Pair For the EUR/GBP pair, prices remaining below the 0.55500 level confirm a bearish scenario, targeting 0.48500. Analysis of the USD/TRY Pair The USD/TRY pair continues to gain, with prices holding above 33.5 Turkish liras, indicating further positivity with potential targets of 34 liras, 34.5 liras, and possibly 35 liras in the medium term. Analysis of Bitcoin Against the U.S. Dollar Bitcoin remains in a sideways movement around the psychological barrier at $60,000. Prices staying below this level threaten to erase previous gains, with the potential to fall towards $50,000 and $48,000. Bitcoin can only avoid this potential drop by returning to buy positions above the $60,000 psychological barrier. Analysis of Ethereum Against the U.S. Dollar Ethereum continues to decline, with a drop to the $2,800 level indicating the potential to fall towards $2,000 in the short term. Analysis of Ripple Against the U.S. Dollar Ripple is maintaining its gains, supported by positive news related to its legal case. Prices holding above 55 cents strengthen the chances of a rise towards 75 cents. Analysis of Gold Gold touched the $2,520 level but needs to break through this level completely to create new buying opportunities. If successful, we may see new historical levels towards $2,600 and $2,700. However, if gold fails to break the $2,460 level, it could enter a corrective phase. Analysis of Oil Oil is approaching a very significant support area. Breaking the $73 per barrel level could create selling opportunities, while breaking the $77 level could lead to a new upward movement. Analysis of Silver Silver is holding onto its support level at $29. If this level holds, silver may rise towards $30.5 and $32. Breaking the $29 level could lead to deep corrections. Analysis of Natural Gas Natural gas is trading near a crucial area at 2.20 cents. Breaking this level could lead to a positive wave towards $2.60. Analysis of the Dow Jones Index The Dow Jones Index needs to surpass the 41,000-point level to create new buying opportunities. Failure to surpass this level could lead to deep corrections targeting 34,500 points and even 34,000 points. Analysis of the S&P 500 Index The S&P 500 Index continues to correct. If the index closes below 5606 points, we could see a deeper correction towards 5500 points. Analysis of the Nasdaq 100 Index If the Nasdaq 100 Index falls and closes below 19771 points, the index could enter a downward correction targeting 19250 points. Analysis of the Russell 2000 Index The Russell 2000 Index is retreating towards a crucial area at 22500 points. Breaking this level could lead to a drop towards 20000 points. Analysis of the FTSE Index The FTSE Index is struggling to surpass the 8400-point level. Continuing to fail at this level could lead to a decline towards 8150 points. Analysis of the DAX Index The DAX Index is declining as prices fail to stay above 1842 points. Continuing this decline could lead to a test of the 18200-point support level, and breaking this level could push the index into a deeper correction. Analysis of the CAC Index The CAC Index fails to surpass the 7600-point level, threatening to erase previous gains and fall towards 7100 points. Analysis of the Nikkei Index The Nikkei Index is facing a decline. Breaking the 37,000-point level could lead to a sharp drop towards 34,000 points.
TVC:DXY
by MohammedQais
DXY has reached its Key Level Area.US dollar Index has finally reached its Monthly, Weekly and Daily support area. A support area across all the higher time frames. Another reason that it is a Key level area because if look back on the previous candles, price has not been able to break that level. So what to take note off: Usually I like to refer to the DXY if and whenever I trade any pairs that are against the USD. (For example XAUUSD or GBPUSD). DXY is inversely correlated to them and can show signs of where price might go for the opposite pair. Why is this important for me? This helps to show me the direction the pairs are heading to. As I do not trade on trendiness and mostly lookout for key levels of resistance and support at higher timeframes, doing this is important. But to say that it is important, this does not mean that is all I do. I also add in other technical analysis to lookout for setup opportunities in the lower timeframe after referring to higher timeframes. Just sharing this in case anyone is looking for trade ideas.
TVC:DXY
by fuadalhakimofficial
Dollar Index / U.S Dollar - Pending Negotiations @ 102.106A whipsaw effect where we continue the sell-off into the abyss before pulling up it's pants and firing off in the opposite direction, catching short sellers with their pants down is what i am expecting to play out in price action going into next week. Brutal.... Yes but, how can you deny the US dollar from being a safe haven?? USD IS the currency of the world! During election years, it's always in the best interest of those who chose to stay behind closed doors to pump the price of their currency to increase the perception they re trying to sell. Going into next week, expect Tuesday, Thursday and Friday to be the most volatile days as these are the days with the most amount of high-impact news.
TVC:DXYLong
by LegendSince
3