Clearly on a descending formation now, 3 levels of support on our updated chart and MOST IMPORTANTLY: Jerome Powel will talk in a few minutes.
Get ready, expect volatility, trade!
Prognostics: I am 61% Bearish on the dollar at this very moment
Our updated Dollar chart. Close to major resistance again.
Funnily, dollar is rising and commodities are rising which is a big discussion I will try to keep it extra short:
no inflation, dollar is doomed...what happens to gold then? it goes UP
high inflation, dollar goes down and therefore people tend to hold money in the form of gold (and btc). Therefore, in...
Well guys we will find out soon, on Wednesday.
Last Friday we were all bombarded with headline news for poor jobs (NFP) but we did not neglect to take into account 2 things:
a. unemployment rate dropped (good for dollar) - important
b Average hourly Earnings rose by 0,8% (vs 0,2% forecast) - VERY IMPORTANT!!!
Why was average hourly earnings so...
Two weeks ago, the USD was seen to obviously be in a bullish divergence and was squeezing to burst up.
On Friday, it just did that... so to demonstrate the daily chart would be used instead.
The USD (no surprise here) popped up on Thursday and Friday. On Thursday, the USD index bounced off the descending wedge support and Friday's candlestick was a Gap Up,...
The USD has been falling significantly, and is now bullishly divergent in technical terms with relation to the MACD and the Relative Price Momentum.
an early attempt was just made, and despite a hasty retreat, this may be forming the consolidative base before a breakout rally ensues.
This appears in line to expectations that the S&P500 is due for a pullback on...
Time to attempt a Buy on the dolalr guys.
The 'not-so undisputed these days' King is right on a MAJOR support level.
Will the Feds give it a boost North? Or will it sink further?
Lost support, headed down to the next one as the chart shows.
I was looking at this because I want to short Japan & Korea, but it's best to wait until the dollar stops tanking. Looks to me like it will hit support next Friday, probably on the usual Friday pump.
1. Dollar is looking for direction (will it bounce off this level or will it drop/ and how much?)
2. NFP tomorrow is HUGE data coming out and will push Dollar over or off the current level (price is now on a crucial support level )
3. Next inflation data (Dec 10) and trade balances will be crucial data
4. Dollar price will affect most of your trades:
- metals...
Dollar bears love hearing that Joe Biden (if and when he takes control of the White House) will appoint Janet Yellen as the next Treasury secretary, making Yellen the first woman to hold the position.
Traders see Yellen as a "dove", meaning she should be very accommodative and a strong proponent of rates staying lower for longer. Also, since she was formerly the...
Previous talk about USD destruction, etc. have come a long way, and the USD indeed has devalued due to fundamentals. However, it broke out of a falling triangle/wedge, tested and is on the break out. For whatever reasons, the skew in the markets have pushed the USD too far down, and it is time for a USD rise. Clearly, sparked off by fear and such... so much so...
The USD Index DX1! had a bullish breakout from near the end of a wedge.
This is a legit buy signal and appears to be a larger trend change, a after bullish divergence (on the MACD), with very big consequences... as it all leads towards the US Elections.
System Buy Signal generated, MACD supportive and crossed up into the bullish territory.
Be aware and beware!
Expecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely...
We discussed bullish fundamental setup, but still no entry. There is a clear trendline on a daily chart. Breaking above is an entry. The most conservative traders can wait till DXY breaks and hold above 7 days high. It has been a long time since the dollar did that. So, breaking and holding above is sign bulls have got the strength to reverse a trend. The most...
