This is your tarot chart reading per event.
DXY is the most important highlight to watch for all marketeers and traders. DXY is normally to calculate the relative between other currencies and some commodities.
1st rebound is on 7th January 2021
2nd rebound is on 1st June 2021
DXY is good performer when it comes out with stimulus projection or stimulus release....
DXY // USDINDEX // USD // DOLLAR
📰 We have seen a fakeout above 93.400, which has trapped MANY traders last week. I have emphasised many times that fundamentally this won't be long when the dollar resumes its bearishness due to the FED and tapering news. And clearly was brought to light on Friday.
👉🏻 As mentioned that 93.000 was...
A third-wave decline might be at the early stages
It seems like a wave (2) might have been in place, so we could be at the beginning of wave (3). If correct, the market should break the low of wave (1) in the weeks to come. At the same time, we can’t rule out that wave (2) might be a little bit longer, possible as a flat pattern.
The EUR continues to rise against the U.S. dollar as the Federal Reserve continues to pump money into the economy and Biden's administration looks to spend.
EURUSD surged above 1.2200 with the 100 EMA serving as a strong level of support on the 4hr time frame.
EURUSD could target 1.2270, 1.2300 and 1.2334 levels respectively.
AUDUSD looks like a nice buy but only after a bounce off one of the moving averages, ideally looking for a doji candle heading up. The risk to reward is around a 1:3 ratio. Targets and stops are at either support/resistance zones.
DXY is currently bearish on all timeframes - D, W, M and it has now trapped a bunch of buyers in a false breakout on 4H - who would love an exit when price comes back to them!
For reference, DXY on Daily
please dont hate me. i dont hate the other guy. i just think he's sometimes wrong. like me.
today i am dxy bear.
i am DXY Bull. usa. all the time long time.
but today bear.
i will be respecting Spinning Top. I do not see DXY higher today, or early next week. I think we range down to some fibs, 9399, Aug 3 high along the way to 939. 9369 if DXY is...
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...