The dollar is extending a arm. Literally. I am thinking 101.60 to test resistance line and if holds a move downtown towards 99.30 in anticipation of Janet's decision. Probably something to bear in mind over next few days.
94.80 $ is the target for head and shoulders pattern. if dollar break 99.24 will go down. pattern fail by break 103.65 to up ...
My short at Friday's close...my currency wave indicates that oil is over bought. and has been since Christmas. COT reports shows new money (retail), MM, Chinese, etc.. are all long, at +seven to one (7/1), with record net positions. Both the timing and direction of the dxy/oil value wave, confirms this is a carry trade. Cheap money leveraged longs.. with little or...
DXY major level of resistance: 103.40 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) DXY major levels of support: 92.00 (Fibonacci retracement, horizontal overlap support) AUDUSD technical indicators: RSI (34) is seeing strong bearish divergence vs price.
I would like to see bounce back to 100.33, reverse and break above 101 level to profit target at 102. Level 101 is very strong resistance level from multiple time frames. Otherwise close below 100.33 will open the way to 99.24
In my mind, the US Dollar is s benefitting from a much needed GOLD correction. None the less, the Bulls have been given a chance to run. Watch for 101 to be in their sights.
From a technical standpoint and based on previous price action. I have to conclude, the Dollar Bulls are heading themselves to a slaughter by the Dollar Bears ...
Afternoon Firstly apologies guys for not posting many ideas recently, I have been up to my eyeballs working on other projects alongside our private trading group. The neckline was broken on the head and shoulders around the 100 level indicative of further decline toward the 98 handle. Provided the DXY remains below the right shoulder highs and 50d moving...
Several factors have cautioned me to some USD Strength, at least in the short term. Price has stabilised from 99.4, established a Bull channel, which has taken price through what was a Bearish channel (Where price previously reacted with sharp rejections) the mere fact that there is still price action in this channel maintaining the bull channel atleast gives me...
So it looks like we got a golden-cross on XAUUSD over the past few days, however the DXY did not give us the death-cross it was headed towards. XAUUSD is looking to bull, however today's strength in the DXY halted it's run through 1240. I will be paying close attention to the DXY / XAUUSD relationship over the next few days to see if XAUUSD can continue it's...
Last week was substantial for both gold and the DXY. Gold was able to close above it's 100EMA, and above the key psychological level of 1220, and DXY closed below the key psychological level of 100, and it's 100 EMA. This will prove to be bullish for gold, and bearish for the DXY. Looking at the 5 and 100EMA for both gold and DXY, we can see that gold's 5 is...
Daily close below 98.85 - bearish scenario to 97.85 and next below - 96.40. Daily close above 100.97 - bullish scenario to 101.97 and 103.82
Pivotal week ahead for the dollar. Still trapped in the downward channel but supply zone holding firm. Looking for a long entry with a stop under Thurdays low.
How far will the US Dollar fall? A first and sound goal is this open gap at the level of 98.99. After closing the gap the DXY will perhaps change it's direction and start moving bullish. I think this is a good way of orientation for all other major pairs. What are you thinking about? Any comments are welcome. Good luck and a lot of pips for you all!
Daily close below 99 zone will open the way to 97.77 and 96.33 Alternatively it will bounce of 99 and go back to 99.75
Expect DXY to gain some strength in the first part of the week (100.75 - 101.00). Midterm i think DXY has still some room to drop.