Technician

USD: Could be long-term buying oppurtunity - Update | #FOREX

INDEX:DXY   U.S. Dollar Index
1430 18 33
In my previous long term analysis for the U.S. dollar index             six months ago (https://www.tradingview.com/v/nFjCrZRH/), I was anticipating this bullish breakout, indeed the breakout materialized, however, at this juncture, i moved to a higher time frame(3-months) to show a major falling trend line (on logarithmic chart) that is being retested now, in addition to that, the price has corrected 50 percent of the overall bearish wave from 121 to 70. We may see the index correct some of recent months sharp gains. I prefer to book profits on any USD long positions for now, as we might see a reasonable pullback within the coming weeks.
But i believe that we should be prepared to long the dollar again from lower levels.

Be one of the first 1k members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you

Good luck, keep your stops tight..
My best regards
Technician
MEGA 70% DISCOUNT ON 3 AND 6 MONTHS PACKAGES . Get it before offer expires : https://thefxchannel.com
What ATR as to do with all that ? explain please
Reply
sigmadict sigmadict
In what i understand from this indicator, it could be that the bullish move as no strength (volatility resistance) "ATR is not a directional indicator, such as MACD or RSI. Instead, ATR is a unique volatility indicator that reflects the degree of interest or disinterest in a move. Strong moves, in either direction, are often accompanied by large ranges, or large True Ranges." For what I get is that this move was weak ? Anybody that can contribute to this .. thanks
Reply
Thanks!
it may be a reason for USDERU breakout main RL and take USDERU to 1.5 level from 1.1
Reply
Great perspective, Technician.
Why do you think the Dollar will strengthen again for another leg up after this pullback?
Thanks
Reply
Please check out my latest piece: http://bullion.directory/the-us-dollar-extending-losses-on-weakening-economy/

As March rolls around, we could see DXY nearing 90.
-2 Reply
HexVex CommoditiesTrader
A 0,38 retrace or so... So what... You're a Tim West and Dan V apostle aren't you. So why shop your cheap wares here?

-1 Reply
Gold will double in color soon.
Reply
2use HexVex
Your comments are not even about the stocks or prices, they are just flame. Im also in for a retrace...because i know the odds and what may happen next. A fib level is not doom and gloom. It feels you are more bone picking with the mods ....for some reason.
+2 Reply
Who and what are you talking about?
Reply
2use CommoditiesTrader
Squeeze if you were asking me. "So what... You're a Tim West and Dan V apostle aren't you. So why shop your cheap wares here? " this bears no value
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out