There may be a sell move for The Dollar Index, encountered resistance at 90.92
Clear 12345 Elliot Wave - Bearish Impulse followed by correction.
Will DXY maintain its strength?
EMAs levelling and maybe be in the process of converging and MACD showing signs of Divergence in the Daily.
Clear breakout of channel will be surefire confirmation.
Possible target of...
with same structure week before this pair broke bear flag in 4H time frame, minimum target of around .95800 to complete this structure with support and fib confluence is @.95000
DXY Weekly
Price is nearing a very important price point 88, after breaking the massive symmetrical in 2014, it never had a pullback near to the triangle except for last year's fall which is ongoing. Pre-break out of the symmetrical triangle a well respected uptrend line was formed in 2011. After more than three and half years price is finally coming to re-test...
DXY is back testing the small support it had previouslt broken. With that and the tenkan and kijun from ichimoku as resistance as well. Looking for a break of 90 and a continuation lower.
DXY is looking to continue lower from current consolidation levels. We broke head and shoulders from my recent chart and now have been in a downwards channel and broke below that as well. On USDCAD news this morning, we didn't see the dollar push up any on a nearly150 pip spike in USDCAD pair and now USDCAD is about to breach 1.24. I continue to see weakness in...
Short DXY. We have broken the upwards channel alongside a head and shoulders and now are in a bearish channel. We are retesting the neckline from current levels to 92.50/92.60 as a good short entry. Retail is long the dollar and are calling bottoms everyday which gives me a further bearish outlook on the dollar index.
USDCAD A.k.a The Loonie Has some Further Downside Potential. After the 160+ Pip move Last Friday on Strong CA Data and Weak US Data, We saw a huge sell off and a slight pullback. On the Hourly Timeframe we have a MA Cross and A Clean Break of the Trendline. I already have some Short Running and have now added to my positions hoping to achieve the Target 2 which...
Dollar Index DXY has a short bias, monthly downtrend with new supply zone created overhead, shorts at daily and weekly supply imbalances around 91 and higher. There is a void to be filled if monthly lows around 91 are broken. Most USD cross pairs are filling that void already and breaking lower. Shorts as well at daily and weekly supply zones on USDCZK, USDPLN,...
From past week DXY index was completing the right shoulder, today price finally broke the neckline. Still time to close but the massive engulfing candle looks like we will get a clear neckline break of the H&S. Let see if the Dollar hit the low of 90 in 2018.
Head and Shoulders, 61.8 fib retracement and daily resistance respected,
Also if we go down to the 4hr chart there was a doji candle this Friday. Bearish bias currently
