The wave count showing we are about to enter wave C. Waiting for the break of the 200SMA for signal.
Considering FOMC cutting rates further soon and signals of the economy show pressure, dollar depreciation is in the cards soon.
Good Luck!
Hello Traders,
Last time we forecasted the up move that happened (Refer to related ideas down below), and now I don't see any reason why we won't continue up.
Expect a down move towards 98.33 / 98.15 range and then we will most likely see continuation up wards. I don't see it falling any further than that at this current time.
The target for our next up move is...
DXY has been trading within a very long term Channel Up on 1M since May 2018 (RSI = 56.323, MACD = 0.620, Highs/Lows = 0.0491). The standard setting of Higher Highs and Higher Lows on the 1D MA50 and MA200 periods has been very helpful in recognizing early buy and sell entries as it happened on our latest analyses:
As the moment and following the Higher...
Looking at staying long with this pair in hopes of a weaker dollar, between 62% and 88% will be my kill zone area.
My red box highlights the mitigation zone and will be looking to see if price reacts from inside the zone off of smaller time frames.
As today is Monday i will not be eager to place a trade unless i see a clear confirmation.
Possible rebound after the price has reached the Fibonacci level which is very close as a value with the 20 days Moving Average.
If the fast line of Stochastic will cross the slow one, it can be considered as a confirmation of this scenario.
All eyes on the Powell`s speech tonight!
In today's #marketinsights video recording I analyse #dxy and #spx
Both affected by:
- post-NFP flows (seen as positive for now, delaying Fed cut)
- Poor ISM last week (numbers affected by tradewars)
- Expectations on trade talks (resume on Thursday but looking pessimistic)
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general...
Hello traders,
Today's jobs reports in the US was not bad at all, adding 136K in September, flat wages and unemployment rate at a record low.
This week's up move by the pair was in anticipation of a bad jobs report following dismal readings from manufacturing and services PMIs. However, it was not as bad as expected so this was a good sign for the bears.
On the...
If you look at the dynamics of the Dollar Index yield at the beginning of the month, you might note that the maximum number of sales were on January, March, April, May, June, August, September and October. In general, it’s time to form a trading strategy: we are waiting for the beginning of the month and at around 3rd of October we are selling the dollar. With a...
The DXY is showing signs of a reversal with a head and shoulders pattern here. We are going from higher lows to lower highs.
If you follow my work, I believe the dollar will be going HIGHER and this is what will cause all the problems in the world to get worse. Pullbacks are expected and normal.
98.50 zone is the one to watch for first targets.
Market is now...
The price is moves in the upward channel.
Now it's close to higher border.
Huge probability it will bounce and move down to Support/Resistance Zone.
Before to trade my ideas make your own analyze.
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Thanks for your support!
The US dollar and Dollar Index DXY are pretty strong creating new demand levels in a clear trend. There are many USD Forex Cross pairs and exotics pairs like USDZAR that also have a clear uptrend and bullish bias creating new weekly demand demand imbalances.
We don’t need complex Forex trading strategies to locate price levels to trade on USD Forex cross pairs,...
So my previous post for EURUSD this week did not give us our break out signal. Again, we await the pattern and then we await for the break and close. If we do not get it, no trade.
It seems we have another chance of a reversal here. Although, on the daily chart it seems like the support comes in at 1.0800.
We are back at testing the flip zone of 1.0950. From...
The dollar index is still strong compared to the other pairs, but nothing rational here at all. Everything is a mess, the debt is rising every single day, bonds aren't nice, the equity market is preparing for wild volatility and even haven assets are waiting for more fuel. What about the dollar? An old trick for investors, leading prices higher to let them drop,...
