Fractal pattern from 1990s in play again. Though this pattern seems to be of bigger scale, so the move might be bigger. We should see a vertical rally for several weeks to the last swing high with continuation.
Dollar is set to break 2016 high. This I can conclude from multiple confluence: halfyearly A-pivot breakout, Wolfe projection, dragon pattern projection, DeMark gap breakout, DeMark breakout projection confluence, Camarilla monthly R4 roof breakout, false test of the last LL and Woodies pivot projection´s confluence with 2016 high. DeMark breakout projection...
Potential triple top forming on the dollar index. If we see a rejection from this third top then we will see some dollar weakness across the board.
I have been posting this gap breakout earlier but now, after adding half yearly opening range and A up pivot breakout, things become more clear. Dragon pattern. Dragon head, 2 humps and now a long tail started to form. It will go up to the target and will draw waving dragon's tail-end there. Look up for dragon pattern on google to understand. For educational purposes.
After applying half yearly ACD to Dollar Index a breakout becomes clearly visible.. In cases of of A pivot breakout on half yearly ACD , moves are often massive. Triangle or pennant continuation pattern is visible at the A-pivot breakout level. Price is likely to move the size of a pennant pole at least.
Double top pattern on the dollar index. A breakout from the neckline would suggest downside and some dollar weakness across the board. Alternatively, we could be witnessing a fake-out. On the daily time frame, there are multiple confluences around the next support level including a 200day MA, key fib level while also being at a key psychological level. Either way,...
Dollar Index correlates with US 10 yrs bond yields. It looks like dollar will be crawling up slowly. Those rejection shadows usually mark a failed breakdown. The collapse in US treasury yields weakened the dollar.
🔸 4H CHART EXPLANATION: . 🔸 Price broke the Ascending Trendline. . 🔸 It has been consolidating for the last month. . 🔸 It has bounced at the Resistance Zone with a strong rejection, so, we expect a breakout of the trendline and a downside move towards the Support Zone. . 🔸 Will look for a lower timeframe bearish setup. 🔸DAILY CHART ANALYSIS:
The left chart show's the daily chart of FXCM's dollar index, USDOLLAR. The instrument is holding support at the black 50-day moving average. The RSI is also looking to cross above 50, which is the bullish side of the oscillator. The right chart shows the hourly time frame. Here the RSI is already bullish and if the EMAs start moving upwards (green ellipse), the...
I assume it will have some small retracement upward after being sell-off for some days. If that weekly s2 holds the price from falling further lower then price prolly may rise back up around the s1 which in line with our Fibonacci 61.80%. In a nutshell, retracement speculation for intraday.
Hi there. Price is forming a possible continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Strength of USD versus currencies of EU, Japan, China, India, Russia, Mexico, Brasil, Saudi Arabia, Turkey, South Korea. There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown. Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed. The area between CAMS1 and CAMR1 is...
HELLO, MY DEAR FRIENDS!!!!👋👋👋 🧐I hope you stay safe and happy!!!! 🥰 💲Let's take a look at INDEX DOLLAR. 💲 📝What we can expect from it in a few days?📝 ☝🏿The price for a long time in the ascending channel( I think it's at the completion stage). 👇Then we expect a breakdown to the nearest powerful support level. Target 94.897. ❓❓❓What do you think about my...
🔸 4H CHART EXPLANATION . 🔸 Price broke the Ascending Trendline. . 🔸 Also, the Support Zone has been broken (Now Resistance Zone). . 🔸 We are waiting for a breakout of this retracement before considering short positions. . 🔸 We will look for a lower timeframe bearish setup in case the breakout happens. 🔸DAILY CHART ANALYSIS:
If this area holds, bouncing from the 200MA and Fibonacci level we could see see a second leg of strength for the dollar. As we know, during uncertain times, crisis' and recessions - the dollar rules king. If the Covid-19 panic selling continues it would support this analysis and strengthen the dollar. We are also seeing many correlations across the board for...
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Im just amazed at the speed and volume trading volumes have move in , over essentially the last month Please note 20 MA applies (Yellow). Its still too early to figure your getting a ferrari off this setup but lets watch and wait for this to play out ..