chartwatchers
Short

US Dollar Index - DieHard

TVC:DXY   US DOLLAR CURRENCY INDEX
2188 20 32
2 months ago
It seems the dollar never wants to break down the trendline.
It's crawling on the trendline for more than a month now. The continuous money printing of the central banks makes it possible for the dollar to be held above the trendline. The more crawling we see the bigger correction we will have in October.
I make the call: by the close of next week Friday we will see sub 94 dollar price.
This vehicle is simply running out of time and the 200 SMA is preventing every pop to go above 96.
...and you never know when the FED says enough is enough and throws some buck on the market before the elections.
2 months ago
Comment: Tested back the 200 SMA again on Friday.
We have a heavy weight seller at the 200 SMA- I wouldn't be surprised if it was the FED...
snapshot
2 months ago
Comment: Price is between the triangle of the 200 SMA and the lower trendline since MAy.
It will break this week. My bets are on the breakdown of this pattern...
2 months ago
Comment: GBP collapsed last night.
That caused the opening gap in the DXY. Gold was not falling too much though.
snapshot
2 months ago
Comment: Ignore the text in the indicator box.
Cornhub
2 months ago
u are a tough guy~
+1 Reply
DS77
2 months ago
Thoughts on how late we are in the cycle?
Reply
GoldBug777
2 months ago
This may be the cause of gold not bouncing, not sure how late in the cycle that is.
Reply
alanprotrader
2 months ago
i want to start trading these index but i want to understand something:

1. What is the value of the dollar index? i mean, now price is 95 ?? what is 95?
2. If dollar drop mean dollar is not strong and EURUSD going to the sky, Correct?
3. If dollar rise mean dollar is strong and EURUSD going down, Correct?

Thanks for answer. I really appreciate your help.
Reply
carli1506
2 months ago
The US Senate last night voted for the Americans’ right to sue other governments for alleged role in supporting terrorist attacks. The decisision is crazy, but it is hugely interesting to imagine the possible effects. The way the US collects its huge international bank fines is by threatening to hijack assets and cut all USD trading lines. Who wants to take chances with US regulations? The Saudis should now liquidate most USD denominated assets and buy a few other currencies as well as gold. Kuwait and Qatar may jump on the same train. Could this spark the USD weakening and support a stronger gold price?
Reply
watsonzou26
2 months ago
I do believe dollar will break down, too.
Reply
DS77
2 months ago
You may be right , but predictions of "it will break below 94.00 by Friday" are the types of statements I like to stay away from. You're right much more often than wrong it seems, but timing is difficult for anyone and something you look to have struggled with on these trade ideas. Best of luck
Reply
Staxs
2 months ago
Last challenge of the top of the protracted wedge or break out? I cant see the break out at the moment. Think this is a last gasp dollar run before return to the bottom of trend line and fall. UK confirming Brexit strategy and EUR hit does not seem to be enough justification for a dollar rally.
Reply
FreshOilTrader
2 months ago
Hello, Chartwatchers! Excellent charts and forecasts from your side. Really glad you are active user of TradingView. Thank you for all of your activity. So, what about DXY? There is no strenghts to wait a breakdown anymore. Moreover, there is some estimations for huge grow of DXY at NFP. Do you have some advise for traders how not to fear and wait.. wait ... wait... ? I fully agree with your vision just worry why it has not happened yet. Good evening to you.
Reply
chartwatchers PRO FreshOilTrader
2 months ago
As watching gold somehow I feel after yesterday's contract dump it was very important for the banks to push gold below 1300$.
Maybe we have a weak NFP and they wanted load gold miners and gold before the news on Friday.
We could easily break down on Friday in DXY...
+3 Reply
Staxs
2 months ago
Amazing over night to see GBP drop like that. Looks a computer hiccup, flash crash type deal.
Reply
l.bcd
2 months ago
Not sure about your bias to watch at markets, but it seems that your are missing a point : USD is not just a random currency, it's world reserve currency,... My 2cts tought ... Calling for a crash now is misleading people. Can you answer this question : Where big money player park their cash : Euro ? JPY ? Rubble ? Yuan ? Gold ? Bitcoin ? AUD ? ................. ?
Reply
chartwatchers PRO l.bcd
2 months ago
Not a crash but timewise we need to come down to a daily and an intermediate cycle low.
Reply
l.bcd chartwatchers
2 months ago
Ok intermediate cycle - Thanks for your explanation ;-)
Reply
lio
2 months ago
1 question: how do you put a few currency pairs into 1 unique chart, please? Thank you.
Reply
investment6300 lio
2 months ago
Use compare tab
Reply
lio investment6300
2 months ago
Thank you Sir
Reply
kizly
2 months ago
Any update?
Reply
chartwatchers PRO kizly
2 months ago
In the year of the triangle post I showed a possible false breakout. Check that out and press play.
Reply
kizly chartwatchers
2 months ago
thanks
Reply
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