Currently trading in a downwards trend with the trend lines converging into the 93 level. FOMC meeting notes on Wednesday (17th August) could provide a catalyst in either direction within the downwards wedge formation. This is not an open trade, but a cross analysis for long positions I have in precious metals.
Head and shoulder found in DXY, short if neck line breaks.. Also the stoch is moving towards down so better place to short after the break of neckline.
I'm anticipating a short rally on Monday before the bears take control and we firstly re-test 95.50 before heading back down towards the trendline at 93.80. A short entry at 96.60 will give me a 1.1:1 R/R shooting for 95.50 with stops moved to break even at this level for a risk free trade.
What do you think? ANYTHING CAN HAPPEN!
Initial support is seen at 95.95 – 95.75 followed by lower support at 95.0 – 94.75. A bullish follow through above the first support with a breakout above 96.55 which marks the bull flag’s high could signal a longer term rally that could see 97.45 followed by 98.55 levels being marked as the minimum price objective here. The bullish view could, however, turn...
TVC:DXY Inverted with my previous published idea for FX:EURUSD , link below... Wait for rsi overbought condition and divergence: Safe Trades;
Here is what I see: Confluence of Fibonacci extensions: green fib 1st impulse 1.618 extension red fib 2nd impulse 1.618 extension yellow fib last impulse blue fib retracement of the HTF move down purple fib where it may go. We need to finish the up move to properly place this fib. Other factors: two trend lines because a wicked wick which I chose to disregard...
If that next order block doesn't hold The Dollar looks likes it could be pushing for another leg up, reaching for liquidity just above 96.40 if it gets there. Could be looking at some divergence on the way up. Waiting for the Sell signal. Also, if you notice the times of all the arrows, do not think that is just coincidence do you? Institutional Order programs...
Watch out us dollar (DXY) 95.8-96.3 This zone !!!!! nice opportunity to sell !!! 2016-05-03 till now the dollar has boost 4.09%.After dollar break the down trend line the dollar increased 1.9%. Never mind i believe the dollar will continue going up but the highest point of 2016-03-28/29 has never been test .So STOCH RSI (14) indicators is showing...
DXY is in ABC correction The first wave A completed close 1.618 of the first upside movement Sell the dollar against other currencies (Silver, AUD) for 0.618 retracement around 84 In lower timeframe look for a retest of the high or a retracement (wave 2 or B)
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Possible downside testing support level at 97.190, before breakthrough gap above high 100.510.
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Once again we failed the break to lower channel, am expecting a bullish turn for all USD pairs. - RSI starting heading up - MACD starting to head up - Failed to break the channel