Appears to be a very large flag-type formation with hidden bullish divergence on the RSI.
The RSI is moving lower and lower into oversold territory while the price is steadily gaining.
This is suggestive of building strength within DXY as DXY has held onto all of it's gains since the end of May 2021.
I'm calling one more dip before the rally but this is really...
For years I have been fascinated by the Dollar Milkshake Theory of Brent Johnson out of Santiago Capital. In the broadest strokes, there will be increased dollar demand as the fiat system collapses because all the other fiats will collapse and then the Dollar will be the last fiat standing before the fiat system is replaced (somehow). This leads to...
Interest rates are going to continue to move up to help drain the excess liquidity in the system. TGA will spend the last of its money in the form of a stimulus package, then we will see a great reversal on the dollar and interest rates, as cashflow continues to dry up, banks too scared to loan to each other (and therefore not make consumer and commercial loans),...
On a weekly chart we see a MACD & RSI divergence.
But that alone is not enough. We need to see a reversal pattern and/or structure breakthrough.
So lets dig deeper:
On a 4H chart we see a double bottom, with the second leg being a bullish engulfing candle.
Moreover, this is accompanied by a MACD & RSI...
Downward Wedge bullish breakthrough on 4H chart.
Technical show a MACD & RSI divergence.
You can Enter Trade at current levels.
More conservative traders can wait for the price to retest the wedge pattern.
Stop Loss at 0.8846 (below last low of wedge ).
Suggested take profit levels shown as white horizontal lines.
A bearish Gartley Harmonic Pattern has formed.
A large bearish Engulfing candle goes through the 78.6 XA and through the 1.41 BC.
The engulfing candle is located on a resistance level.
Stop Loss above point X
Take Profit at 38.2 & 61.8 AD
Rising Wedge formation + false break at the 5th point.
This is in conjunction with a MACD Divergence.
On a 4 hour chart a shooting star reversal candle is present.
Short at 0.77017
Stop Loss at 0.7036
Take profit at support/resistance along the way.
This trade idea supports my larger active trade shorting the NZDUSD based on a harmonic pattern -...
EURUSD has reached a resistance level.
On that level we see a large downward movements + MACD Divergence + Shooting Star reversal candle on 4H Chart
Enter on reversal candle confirmation.
Stop loss above the candle.
Take profits along the way at possible reversal zones.
A bearish Crab Harmonic pattern has formed on the kiwi-dollar.
We have a 0.618 point B (within 3% margin)
We have a Potential Reversal Zone (PRZ) of 1.618 XA & 3.14 BC at point D.
PRZ connects with resistance line (dotted).
On a 4H chart we see a MACD divergence.
Look for reversal candle to form to enter the trade.
Stop loss at 2.0...
The yellow trendline is drawn from the January 2016 high.
DXY bulls have been rejected a total of four times over the past few sessions, as shown by the red arrows on the chart.
Bearish divergence on the 4 hour chart may indicate bulls are losing momentum, at least in the short term....
Additional trendlines are drawn from recent swing highs / lows and seem...
This is a major test for USD bulls. This TL has been holding since 1985. You can see the price dipped below Nov 2016 which preceded the EUR rally of 2017.
If this TL is broken, I expect a big follow through. Breakouts of other USD pairs on the monthly chart add some conviction that this is possible.
Brexit in the UK, pending recession in Germany, riots in...
Price clearly broke out from this massive falling wedge last summer.
You can see January's "Yen Flash Crash" looks like an attempt to move price back inside the wedge. Price has broken out once again after bouncing off the Monthly 200 MA.
A similar break above a smaller wedge in 2014 resulted in a 2000 pip move to the upside.
This is just one of a handful...
NFP day , which we want to capture that sharp move with high profit. I have notice the demand level. Though it has been visited and its not a fresh level anymore. Even so , the scoring is either 8 or 7 depending on the arrival. If the arrival is sluggish, I suggest leave it. If the arrival is strong, anticipate with EURUSD or GBPUSD to sell!
Our Second Idea on Tradingview
=> Here we are smelling risk off in the coming sessions.
=>From a technical perspective we are eyeballing a move back towards the 61.8% from the bottom of the channel we have been trading since April.
=>Expecting investors to raise the bid on risk off assets as we have the triple CB combo this week with BOJ, FED and BOE in play....