DXY HTF looking bullish, MS break and a dip into previous accumulation. Looking for price to stay above the block and target the 96.60 area. EI
Having bounced from key support at 93.455 last week price is making a run at key resistance at 94.030. A break above this area clears the way towards 94.850.
Price has recovered with 2 bullish candles after fall.
Despite Shorts from 93.455 failing to break support, price still remains in a near term down trend. Failure to trade below 92.635 suggests a possible risk of re-testing 93.455 but ultimately Shorts are preferred. Price below 92.635 clears the way to 91.550.
If you are trading short term, EURUSD presents a bearish setup near 1.2 with a bearish Cypher. But if you look at the broader picture you can understand that any bearish pullback will only create bullish opportunities and allow to buy EURUSD from lower levels following a weekly bullish breakout. Cypher pattern setup: Short 1.2 First target zone - 1.185...
Last week price broke below key support at 93.455 ending the week around the 92.635 area of support. This week we look for a correction and further declines with a break of key support at 92.635 clearing the way for the Bears towards 91.550
DXY broke and closed below its 200 weeks MA line last week. The holiday trading week (low volume) helped the sellers to push the Dollar beyond this important support line. Now the next line of defense for DXY is the monthly 50 SMA line and the bottom of the structure zone (weekly) that you see in the chart. The Cypher pattern and the 61.8 Fib level can be used...
DXY is down today and tries to break below important short term support. The Dollar must close above the 50 MA line by the end of the day in order to leave hope for the Bulls.
Hi trader's, in this week's video I elaborate on the SP500 and why it might start reversing soon. There is a clear driver for the US indices and that will be tested soon. Short term we see a corrective structure that might make another leg lower before higher. That is what I need for a short term buy. Otherwise I focus on the short trade as explained in the video.
Last week the USD Index declined after two weeks of consolidation breaking key support at 94.030. This decline is still viewed as part of a correction and as a result we have a neutral outlook on the USD Index going into next week with a risk of a continued range. A break above the 94.030 level will indicate a resumption of the Bull trend.
Facing strong resistance. Breakout may bring price to 118 and beyond.
If we see that price holds above the cloud then a further bullish move higher could follow, see targets on chart. This might be bearish for EURUSD, Gold and Silver.
Decided to make an update on my last plot of DXY from 24th Aug '17 (chart below). So far, everything looks good!! We are still in F -> G move I'm expecting price continue to move up until December 2017. Reasons for that: in short-term Trump will announce new Fed chair, in long-term expectations of FED to hike rates by 25bp. XAUUSD (gold) will trade in opposite...
Last week price pulled back towards broken resistance area turning support at 94.030. We see this as a correction pointing to further advances as still being the higher probability move.
Dollar Index (DXY) – Bearish Minor 5 – Trend Continuation Dollar Index (DXY) bounced off the Reversal Area pointed out in the previous “Dollar-Index-DXY – Market Crash Road Map – Full Elliott Wave Cycle” and commenced the Corrective Pattern for Minor 4 (red). It seems like the Dollar Index (DXY) is approaching what is called the “Golden Section” in Elliott...