DXY Weekly Outlook. Overall overview of the dollar is weak, however, I would be expecting a soft rally over the next few weeks many even a couple months too. We would have completed the BWave correction and moving lower to complete CWave, thus ending the 4th Wave of the Grand Cycle.
Short term we may see strength coming in the dollar but overall we should...
The DXY is currently trading at around 96.62 just after breaking the bearish flag which it was in for almost a month after the drop from it's high of about a 100. With a break out of the bearish flag i expect to see the Dollar drop to around 93 which is equivalent to a -61.8 Fibonacci extension off the retracement Fib level starting from the high of the previous...
The dollar is trending down on a daily graph according to the Ichimoku Indicator, the dollar is having trouble rising above the Tenkan Sen line and is below a red cloud.
The dollar below the 2 moving average lines is important as it indicates weakness and bearish trend.
DXY is rolling downward for the last couple of months.
The technical analysis hints for more weakness and bearish target 94.65
1. The price is moving in a descending channel
2. Currently, it's trading below the key resistance of 97.20
3. It may bounce upward for a short term from the Fibo Extn.100% at 95.80 due to oversold condition + bullish divergence coming...
"When the steam is not there for the Dollar,
we buy our own currency Ringgit..especially KLSE"
-Zezu Zaza, Webinar 1st May 2020
The selling in Dollar last week is a one of example of mechanism of retracement.
As we can see, Ringgit is strengthen this week. This week is a bullish potential sign
Half of our sector industries will be open today 04th...
Hi Traders, here is the full analysis / Breakdown for US DOLLAR INDEX.
Keep this pair on your watch-list.
1. Wait for confirmation (Environment Change / Retest Of Structure & Confirmation of Bearish trend)
2.Use Risk Management (Risk 1% of your capital)
3.Do your Own analysis
4.Follow for more Analysis like this !
Dont forget to give me a...
It's important to keep in mind previous price action when trying to assess both a currency pair and it's index at the same time. Let's not forget the freefall from the current all time highs through to 97, a drop of 2.5%.
After last weeks run up through both of our targets, we are now expecting a retracement within the current structure for the DXY. We expect...
DXY HAS COMPLETED A RISING WEDGE & HAS BROKEN IT + WE CAN SEE A BEAUTIFUL BEARISH ENGULFING PATTERN IN THE WEEKLY TIMEFRAME, THAT TELL US DOLLAR IS BEARISH IN THE NEXT WEEKS SO WE CAN SHORT IT.
SUMMARY: TRY TO LONG GOLD & SHORT US PAIRS. FIND A GOOD STRUCTURE FOR A GOOD R:R TRADE.
THERE'S A LOT OF OPPORTUNITIES EVERY DAY JUST BE PATIENT :)
Fundamentals are fairly important in financial markets. Its why I spend so much time on them. This is how I came to the ultimate conclusion that the trend of EURUSD is down mainly because Brexit, updates of which you can find here: anthonylaurence.wordpress.com