DXY has successfully tested the 92.50 Support today twice. If it holds then on the 4H chart (RSI = 39.680, MACD = -0.240, ADX = 46.240) then that is a solid sideways opportunity within the Support and the 94.00 Resistance (which has also been tested twice (red arrows). As you see the MACD pattern is quite similar with that of the June consolidation.
** If you...
Dollar Index daily analysis based on global combination of pitchforks and Fibonacci expansions.
Uptrend Confirmed .
ENTRY: 97.51
TP1: 99.23
TP2: 100.96
SL: 96.74
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Historical trend tell us that at the moment the DX1! US DOLLAR INDEX FUTURE is evolving above his past long range and might return to it from next month.
The probability is increased when we see that there is...
Pattern: Rectangle on 1D.
Signal: Bullish as a candle of such strength has led to a new (Lower High) within the Rectangle on all 3 previous occasions.
Target: 100.80 (Lower High on the dashed line).
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We can see that there is a clear range illustrated by the market . The top and bottom blue lines are the new support and resistance.
We have two clear reasons to see that the possibilities for the market going bullish increasing significantly :
-The formation of the candlesticks on the support line, taping the line to rebound .
-Combined with the strong...
EURUSD goes in line with my expectations posted in the map earlier (pls see related).
It reached the upside target on Friday and then collapsed.
All minimum targets have been hit, so it can start now wave (y) down to complete huge wave X.
The wave (y) = wave (w) hits right in the area of the former low at 1.0636.
This will be the target.
Wait the pullback and see...
DXY is on a sharp sell off following the 99.90 High on February 20th. The 1D chart is on a strong bearish territory (RSI = 37.767, ADX = 49.169, Highs/Lows = -1.0001) and just hit the 0.618 Fibonacci retracement level from the 96.35 December 31st Low.
We believe this level is at or close to the current bottom of this downtrend, on a similar sequence as 0.618...
DXY has been trading inside a very strong 1D uptrend (RSI = 71.713, MACD = 0.440, ADX = 48.457, Highs/Lows = 0.4165) since the December 2019 bottom, almost turning overbought. The dominant trend on the long term (1W, 1M chart) is still bullish as the Dollar Index has been within a Channel Up since May 2018.
However the price is now close to a symmetrical Higher...
DXY has been on a strong downtrend since the early September top. Last week this downtrend broke to the upside and with the 1D chart turning bullish again (RSI = 62.141, MACD = 0.060, ADX = 22.482, Highs/Lows = 0.3161) we are expecting a new bullish leg towards the 99.10 - 00.60 Zone.
However there are two dark spots we need to point out:
- The first is the 1D...
DXY dropped again below the 1D MA200 (RSI = 40.089, MACD = -0.130, Highs/Lows = -0.2864, ADX = 25.789) approaching once more the Higher Low trend line of the 1M Channel Up that has been trading within for over a year.
The pattern resembles the early 2019 sequence and as you see on the chart this could be the 7th phase that will initiate the uptrend. Two targets...
The Dollar Index made a bottom (Higher Low within the 1M Channel Up) at the start of the month (double bottom in fact) on 97.10 and has had a steady rebound since. We are seeing a lot of patterns being repeated within this long term (+1.5 years) 1M Channel Up (RSI = 56.888, MACD = 0.590, Highs/Lows = 0.1904, ADX = 35.134).
The one that stands out now on the 1D...
Weekly update with the outlook on my favorite trading instruments where I place around 90% of the deals.
These include: Gold , Crude Oil , EURUSD pair and the Emerging markets via USDRUB .
If you like what you see, please fell free to hit the Like bottom and leave your comments.
Disclaimer:
By viewing this video you fully accept and agree that it offers...
Weekly update with the outlook on my 5 favorite trading instruments where I place around 90% of the deals.
These include: Gold , Crude Oil , EURUSD pair and the Emerging markets via USDRUB .
If you like what you see, please fell free to hit the Like bottom and leave your comments.
Disclaimer:
By viewing this video you fully accept and agree that it offers...
