The Euro has lost 1.2050+ status vs the Dollar after testing 1.2100, but failing to breach the psychological level or derive much traction from broadly better than expected Eurozone manufacturing PMIs and firmer German state CPIs. Perhaps the EUR/USD is conscious about more dovish guidance from the ECB pre-comments via several GC members including President...
DXY has moved in the great downward channel since its inception. Locally, the index may rise to the resistance line. Eventually, I expect it will achieve its lows during the 20s.
Best regards EXCAVO
The dollar softened in Asia trade, and that continued into the European hours ahead of testimony from Fed Chair Powell; but the buck regained poise, moving into positive territory; Powell didn't push back against higher yields, perhaps due to these higher yields coming hand-in-hand with brighter prospects for H2 2021 (though that still doesn't explain why the Fed...
DXY has been within a wedge for what feels like forever.
The 90 level is the one to watch. If we break, we can assume there will be a retest (as shown in the chart) and will continue lower.
How to use DXY?
DXY strength = USD strength
DXY Weakness = USD Weakness
There is nothing more important to a trader than a good prediction of the dollar's performance. At this stage and since mid-November last year, the dollar index has been going sideways. It landed on our calculated support but failed to find either a good rebound or a break through to dip lower.
At this point it's important to understand what the dollar index is.:...
The Buck was already losing altitude before the return of US markets from their long MLK junior holiday weekend, but the pull-back has continued through 90.500 in DXY terms to 90.401 vs 90.768 at one stage and from within a whisker of 91.000 yesterday, assessing US Treasury Secretary nominee Yellen’s confirmation Q&A where she is expounding the virtues of a...
This is a way to track the move or trend of any instrument. Works very well when tracking BTC, Stocks, Dollar Index, ETH, Forex, as tested and also any other instruments such as futures.
A modified RSI, VFI and WMA are used to confirm each move with technical indicators.
The Dollar remains on track to record net and widespread gains, but it’s been far from one-way traffic or straight forward as the DXY has whip-sawed within a 90.762-89.922 range through mostly disappointing US data, mainly dovish Fed rhetoric and President-elect Biden’s fiscal stimulus plan that was pretty much as expected. Meanwhile, broad risk sentiment has...
Our updated Dollar chart. Close to major resistance again.
Funnily, dollar is rising and commodities are rising which is a big discussion I will try to keep it extra short:
no inflation, dollar is doomed...what happens to gold then? it goes UP
high inflation, dollar goes down and therefore people tend to hold money in the form of gold (and btc). Therefore, in...
Here we use a market cyclical analysis and note that each cycle coincides with a bias of 1 quarter. I expect a reversal and strengthening of the DXY from January 15 to March 15.
Best regards EXCAVO
Prior chart:
The Dollar and index by default, if not quite design, have maintained recovery momentum, as the latter holds above 90.500 and Monday’s new y-t-d/multi-year low (90.419), albeit still unable to reach 91.000 and fading just below yesterday’s high, at 90.824 vs 90.907. Markets are somewhat caught and...
The dollar is softer and continued its downside with month end approaching. Citi quant's month-end rebalancing model points to dollar selling on Monday, with the signal to sell exceeding 1.5 standard deviations in all crosses except JPY, the bank said. The latest Fed minutes had no impact on the greenback, although some kind of action seems likely in December;...
Aside from all the above, rangebound trade on US Veteran’s Day is keeping the Dollar in check for the most part vs most majors as the DXY hovers below 93.000 within a 92.969-607 band eyeing broad risk sentiment and further post-US Presidential election developments. Possible further downside ideas on the horizon.
![DXY: DOLLAR Soon to [BOUNCE BACK]!](https://s3.tradingview.com/f/F2Cy5hC9_mid.png "DOLLAR Soon to [BOUNCE BACK]!")
