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.
I am under the anticipation that XXXUSD pairs are accumulating and USDXXX are distributing.
Based on the current price action of the DXY chart, I am anticipating weakness in the Dollar.
This is the setup I have based on DXY, which would have to be translated to respective Forex pairs and/or Commodities, etc.
The safest protocol at the moment is to wait for...
DXYUSD daily guidance is bearish. Recommended ratio: 5% DXY, 95% Cash.
*Cryptos and Commodities markets are signaling a bullish open to a week of mute economic data before CPI on 12/13 and the last FFR hike announcement of 2022 on 12/14. More volatility is to be expected with increased supply chain disruptions due to reduced exports from China weighing on Big...
It's been a while since I projected this move, and I think it's time for the US Dollar to take a break. At the same time I expect a major a recovery in most markets of the world, including the GBP and EUR.
The dollar index has entered the resistance range and there is a possibility of a correction to the range of 102,500.
If the dollar index can break the range downwards, a downtrend will happen.
This is my personal opinion. Please do not trade based on my analysis and data.
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,...
PRICE HAS BEEN ACCUMULATING FOR THE PAST 3 MONTHS, IN AN AREA WHERE ON THE HIGHER TIME FRAMES, LEFT AN IMBALANCE IN PRICE. BELOW THIS AREA OF IMBALANCE WE STILL HAVE MORE PRICE INEFFICIENCY IN THE 80'S PRICE RANGE. PRICE DID IT'S THING AND HAS TRAPPED BREAKOUT TRADERS AND NOW, THE EXPECTATION IS TO SEE PRICE MOVE LOWER TO FILL SOME OF THE INEFFICIENCY BELOW....
The decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend.
Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag...
bearish divergence +overbought in many ime frame
also gbp and euro are oversold and exrtremly low
a rebound/correction is legit
when i will reach 98,79 i will close 1 lot and put The SL of my other lot at near my entry point to be safe and sure keep some profit
Friday's trade closed with a huge bearish engulfing candle that stretched out of the daily range. This indicators present a bearish outlook of the dollar this upcoming week.
Dollar index is approaching our first support level at 95.77 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 97.24 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3)...
