Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) Best regards Aaron
Dollar bounce of support at monthly pivot 101,76 area as long the dollar stay above this level its bullish. Have the quarterly pivot 100,43 and yearly pivot at 99,26 would not be surprise that it go touch this level if break the monthly level.
With the recent rate hike and another potential 3 hikes in 2017, the overall sentiment remains bullish for the US Dollar. Based on the current structure development, it is highly possible that we will see the Dollar Index reaching towards 106.20. A retracement back to 99.50 - 101.00 area will present a good opportunity to long the Dollar. Short term hourly...
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Watching, and waiting. Let's see what happens! Happy new year everyone!
Looking at this chart price action appears to be extremely exhausted. I see a common reversal pattern forming on the daily chart. So long as we remain below 103.65, if we break below 103 we could open up the downside quite rapidly. Below 103 look to 102.5 then 102.05 for support.
Dollar index mini wave 3 Seems to have a finish at 104 in 12345 I am short on dollar Index From 104 till 94 Or some 50 % of previous wave .
Hey guys, one chart I am very interested to monitor closely next week is DXY which is the US dollar index. It measures the USD against a basket of other currencies and is the most widely used chart by traders to determine the strength of the USD. You can read more about it here --> en.wikipedia.org Hourly Chart Comments I see DXY getting supported at 100.66....
Fundamentally: rising interest rates, higher inflation expectations and a rise in US yields relative to other major G10 currencies should continue to drive the dollar higher. Further into 2017, $10 trillion of off-shore dollar denominated debt is massively bullish for the greenback. Technically: The dollar index has broken 100.50 - a major multi-year...
We might see the USD index above 103.00 in the short-term, but overall, the trend since 2011 is approaching its end. Nothing lasts forever.
Starting in Jul-14, the USD went on an unstoppable bull run for 9 months straight. This is not a prediction but history does tend to repeat itself, so it's always good to see what happened in the past.
The long term uptrend signal I was looking at has triggered here, so I think we can get higher prices in the long term, although I see a very possible retrace in the dollar coming here, but only briefly. If anything it's an opportunity to reenter long term dollar longs. Invalidation of this thesis would come if there is a big fundamental change that causes price...
The overbought daily indicators coupled with the Monday’s Doji candle suggests the dollar index is likely to re-test confluence of support around 100.60 (23.6% of Nov 9 low – Nov 24 high + H&S neckline). An hourly close below 100.60 would open doors for a much deeper retracement to sub-100 levels.
DXY has been gaining ground consistently in the last weeks and a strong bullish engulfing candle suggests a price increase in the following days. Going LONG in a 1:1.35 trade. --- "Know what you own, and know why you own it." - Peter Lynch
Talking Points: DXY Technical Strategy: Keeping bullish outlook but temporary correction due Elliottwave Count: Nested impulsive count, wave 4 correction is due Analysis DXY (Dollar Index) is trading impulsive in post election session and able to break channel resistance. We were calling reversal from 19-Aug-2016 and looking for 100 levels during August...
The daily chart has a spinning top (Thursday’s candle) and a bearish follow through (today’s candle). The candlestick patterns ad credence to the overbought indicators and suggests potential for correction 100.65 (Nov 22 low) and 100.00 (zero figure) levels. However, bears need not get too ambitious as the short-term averages – 5-DMA and 10-DMA are still...