H1 - Lower lows.
No opposite signs.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds my short term view remains bearish here.
H4 - Price respected a key resistance zone and bounced lower.
Uptrend line breakout.
Lower lows.
H1 - Bearish trend pattern.
Currently it looks like a correction is happening.
Until the two strong resistance zones hold I expect the price to move lower further after pullbacks.
Hi Traders,
The US dollar index is trading with momentum after the 6-week high at 103.572 was broken and is now approaching its 3-month high at 104.714.
Looking at the price action on the chart, the market is still inside the ascending price channel, and the highs and lows are still higher, so our bullish outlook on the dollar index continues.
We have the...
Its time to recover for a Greenback.
It is currently too oversold and multiple technical indicators
show a highly probable bullish reversal soon.
Target Level - 100.3
Please, support my work with like!
Please, check our technical analysis on DXY.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 103.37.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish
movement to the downside at least to 100.965 level.
Like...
DXYUSD daily guidance is cautiously bearish. Recommended ratio: 10% DXY, 90% Cash.
* DEATH CROSS WATCH . Final US Q3 GDP estimate was +3.2%, compared to a decline of -0.6% in Q2 , and was primarily led by upward revisions to exports, nonresidential fixed investments (IP and equipment) and consumer spending. The latest GDPNow US Q4 GDP estimate was 3.7% on...
DXYUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% DXY, 60% Cash.
* FOMC WATCH . US November CPI was estimated to come in at 0.3% but instead came in at 0.1% , compared to October's 0.4% it's fair to say that it eased a bit. Meanwhile Core CPI rose 0.2% in November compared to 0.3% in October. The last FOMC rate hike is expected to...
DXYUSD daily guidance is bearish. Recommended ratio: 5% DXY, 95% Cash.
* Oil tankers are reportedly beginning to jam up the Black Sea with 28 tankers waiting to be checked for having proper insurance by Turkish officials . This will likely put upward pressure on the price of oil in the near/medium term. Investors appear to be anticipating a 50bps rate hike by...
The price responded perfectly to the signal sent by the MCS in H4.
After this excess of strength, the price pushed down until it reached MML H4, giving us the opportunity now to place a Stop Profit below the entry point.
Let's set the new Stop Profit at 96.72
Once we reach 38.2% of the last bullish vector we can lower the Stop Profit on the MML to 96.05,...
