Only on the slow timeframes can you predict the direction of the Dollar with some degree of accuracy. The faster timeframes are so volatile and misleading. For several months, the DXY has been sitting on this monthly support which was previous support. Earlier this week, FOMC maintained the interest rate of the Dollar at 5.25% for the first time since March 2022. The FED and FOMC is a pace setter and we are likely to see other major central banks following in step, marking the end of the current economic cycle. Trends will form and break out. The close of this monthly candle will confirm the DXY trend, which is likely to be bullish.
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Bulls are slowly taking over.
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Looks like the monthly candle is gonna leave a wick to the downside. In that case, there will be no doubt that the DXY was indeed testing the previous resistance (now support)
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Two more days before the closing of the monthly candle. These will be very important because if the monthly candle closes above its opening, that will be a strong trend confirmation to buy the Dollar.
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100 Pips for the DXY! Nice bullish momentum coming in strong !
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Price is back at the long term support which was also resistance multiple times before. Previously, price has paused and reversed at this level. What happens next will determine the next trends for the XXXUSD and USDXXX currencies.
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99.00 - 101.00 is a very significant level for the DXY. It is a long term support/ resistance where the market has paused and reversed before. On a long TF , the market appears to be retesting this zone. If price is rejected at this zone in the coming days/weeks, the uptrend should resume and the DXY should make new highs above 115.00 by the end of the year.
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The FOMC meets today to announce the Dollar interest rates. In the last meeting, the FOMC maintained the rates at 5.52% for the first time since March 2022.If the FOMC maintains the interest rates at 5.25% for the second tome in a row, the DXY may rise from the current levels. If the FOMC increases the interest rates, then the DXY may fall further.
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Previous resistance/support is too strong. The DXY is set to rise again !
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For the first time in the last three months, DXY closed above the support. Its now clear that the support will hold !
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The market is slowly but gradually pulling away from the 101.00 support zone. Meanwhile, the Dollar continues to gain ground as XXXUSD pairs fall and USDXXX pairs rise.
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DXY UP !, USDJPY UP !, USDCAD UP !
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DXY rising from the ashes like a phoenix ! DXY to the moon !
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200 PIPS ON THE DXY !
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DXY RISING ! USDXXX RISING ! XXXUSD FALLING !. That's the pattern across all markets currently !
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Bulls gaining momentum on the DXY everyday. New highs on the trend everyday !
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Expecting the DXY to make new highs on the close of the weekly candle as the NFP is expected to add more fuel to the recent bullish momentum on the Dollar !
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104.40 is the new high on the current DXY bull run !
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104.80 is the new high on on the trend !..115.00 is the target !
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105.10 is the new high on the DXY !
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New highs tagged on DXY @ 105.40 !
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The dollar making new highs after the FOMC maintained the dollar interest rates ! Let go BULLS !
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106.00 IS THE NEW HIGH ON THE DXY!!.....350 PIPS !!
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106.70 IS THE NEW HIGH ON THE DOLLAR TREND !
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NEW HIGHS @ 107.10 !
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The DXY is on the rise again !
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450 PIPS ON THE DXY AS WE AWAIT THE FOMC TO PIVOT @ 5.50%
Thedeveloper