The dollar has made a comeback last week as a lack of sellers after breaking below a range and a strong retail sales caused the dollar to rise.
Based on the current movement, the dollar is most likely to retest the 23-months supply zone at 97.6.
Volatility will be low on the first trading day throughout Asia and Euro session due to East Monday which is most...
As it was forecasted last week EUR/USD made the corrective move up, giving nice rejection on Friday. During the week few economic reports were released. EU data was a bit better than expected. But still nothing special. Besides such reports are unable to change the big trend.
Coming week we keep an eye on German PMI. But I am thinking about two...
Following its most recent bull leg on 1D, the Dollar Index was again rejected near the 97.70 1W Resistance, causing the 4H Channel Up to break downwards (RSI = 40.558, MACD = -0.060, Highs/Lows = -0.0793, B/BP = -0.1870). This rejection technically calls for a re-testing of the 95.80 1D Support. However the 1W Channel Up (RSI = 54.944, MACD = 0.450, Highs/Lows =...
Price is forming one possible head on shoulders formation, now forming the right shoulder at daily resistance level 97.25 where price can now make a potential move back to the major ascending trendline.
DXY is approaching its support at 96.86(100% Fibonacci extension , horizontal swing low support, 38.2% Fibonacci retracement) where it could potentially bounce to its resistance at 97.47 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
XY is approaching its resistance at 97.69 (horizontal swing high resistance, 100% Fibonacci extension*2 ) where it could reverse down to its support at 97.03 (38.2% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
DXY is approaching its resistance at 97.29 (78.6% Fibonacci retracement , horizontal swing high resistance, Elliott Wave ) where it could reverse down to its support at 96.74 (38.2% Fibonacci retracement , horizontal pullback support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
=> This chart is part 1 of a two part series we are running on DXY. Here we can see in the Longer term chart the idea behind the move we are tracking.... a deep pullback towards 94 before continuing the rally back towards 102.
=> As most of you know we have mentioned this move a few times in the telegram. The move from August into the year end was corrective and...
This pair has been trading in a narrow range for the recent days where bulls and bears are fighting to take control
Bulls aim to break 1.132-3 resistance area in order to keep advancing towards higher levels near 1.139 where sits a 7-month down trend-line.
Bears aim to break 1.127-5 support area in order to keep retreating towards lower levels near...
Aaand the losing streak is over! Thanks to a decent signal from EUR/USD, the HLHB is back to black this week. Phew!
Before we get to the numbers, read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Basically, I’m catching trends whenever the 5 EMA crosses above or below the 10 EMA. A trade is only valid if RSI crosses above...
Yellow region marks the break in market structure, price is going up to retest the resistance.
Short .618 fib level, target green support region
If green support region fails to hold price, we will be going far lower
Simple set up ,broke previous 1st weekly and daily structure to the upside and keeps holding above it so right now after creating a new high price has retested the top of that broken structure so in roder to go long i will monitor this daily candle and see if we can get a daily clsoe above the Mp fib 26160
Short on DXY taken on Sunday stops set at previous high as we have respected the fib resistance as expected with soft NFP data. with the recent daily closure i can see DXY coming back down to the ascending trend line for a chance at a Break or Bounce scenario.