The dollar index could be in the ending diagonal wave (C). Then the drop is expected
The Dollar Index chart is part of our educational article "Elliott Wave Case Study - Dollar Index and the Alternation Concept."
The DXY should come down to fill the gap over the weekend, and down to my zone.
Message to learn more about how to trade the basket pairs with this chart
The real reason why supply and demand works. For the US dollar index its not hard to read there was a massive drop from the big red candle (creating a supply area) and it is now making its way up to the initial price drop area. Based on Elliott wave pull back method we can foresee the 5 waves almost being played out except that we will still have to wait for no...
BTC continues to hit new highs this year and some might have noticed that the USD decline coincides nicely with this rise. We can see the continued move from $9,000 to $14,000 arguably has been spurred on by the strong drop in the US dollar. Whether the trend continues to seemingly resemble some correlation needs to be seen but they are trending in opposite...
The Dollar Index has broken and retested the trendline, I would like to see it weaken. Meaning XXXUSD pairs will buy and USDXXX pairs will sell.
DXY couldn't break below former valley of 95.03 and now we are heading to break the former top above 96.68. This could make valid the unfolding of 5 waves up in larger wave (5) (green) to touch the big top of 103.82. On a bigger time frames (see related) we can go even higher.
Whenever you are looking at a technical level, always ask yourself the following: - Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones) - Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit at horizontal, diagonal & dynamic support/resistance areas) - What are the...
Hi traders. Whenever you are looking at a technical level, always ask yourself the following: - Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones) - Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit) - What are the underlying fundamental/sentiment drivers that...
The US-Dollar got hammered on most pairs in the last day or two. Day traders may have suffered or gained. The US-Dollar index shows what happened. On the Daily time frame US-Dollar is still pretty bullish, so stay tuned on lower time frames.
What is the Dollar Index? The U.S. Dollar Index is a geometrically-averaged calculation of six currencies weighted against the U.S. dollar Which currencies are included in the U.S. Dollar Index? The U.S. Dollar Index contains six component currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. What is the Formula...
Learn with the Lex van Dam Trading Academy on TradingView! www.tradingview.com Featured in our Trading Club, 4th July Our checklist provides a systematic process that fellow hedge fund managers and traders employ to analyse markets, from which the biggest trading decisions are made. We use similar versions to analyse major currencies, stock markets and...