Thinking out loud again Tell me what you think in the comments Not investment advice good nite everyone
Yellen continues to beat around the bush regarding a rate hike this month. Yields have been rallying leading up to Yellen's speech but the Fed continues to disappoint by not providing a concrete decision on whether they are raising or not. If we treat this as a fake break of the trend line but more so as a box and range then we could see 2.300 again before the...
Watching the dollar index on this huge daily head and shoulders. The market formed a bat pattern. currently close to the 127..
Today we ran a clean level of stops around 101.70 with a nice reaction and 4H pinbar. There has been some divergence in the recent up move though we could see more bullishness to 102-102.50 levels before turning. There is a liquidity void where orders were not filled around 99.00 which I believe we will need to fill before further upside.
4H Short and Long scenario Resistance:101,35 - 101.50 - 101.67 Support: 100,80 - 100.65 This is not investment advice
DXY 4 H Resistance: 101.60 Support: 101.20 This is not investment advice
Looking at the DXY i see a completed gartly that turned into a 127 cypher pattern. In the PRZ zone their is a head and shoulders formations signalling a strong reversal. The trend line on the right shoulder is broken. Look for USD to get weak compared to other pairs this week.
DXY is meeting very important support. If it breaks support, we can see some bigger move down on dollar. If it breaks below support, We will probably see: USDJPY on 111 EURUSD on 1,085 XAUUSD on 1260 This outlook is only for information. Do not take it as signals or whatever Don't forget to trade with proper RM/MM and caution. Good luck
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 ...
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.
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 ...
USDTRY is going on its short-term down trend and will target 3.60 levels. Good Luck!
Short DXY after breakout the short-term uptrend. First target is 99.85
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...
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
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