I would like to see bounce back to 100.33, reverse and break above 101 level to profit target at 102. Level 101 is very strong resistance level from multiple time frames. Otherwise close below 100.33 will open the way to 99.24
In my mind, the US Dollar is s benefitting from a much needed GOLD correction. None the less, the Bulls have been given a chance to run. Watch for 101 to be in their sights.
From a technical standpoint and based on previous price action. I have to conclude, the Dollar Bulls are heading themselves to a slaughter by the Dollar Bears ...
Watching for if USD are forming an bottom-formation now... ? Aming for 100,50-60 again , let's see how it react's again there, coming days/weeks.
Afternoon Firstly apologies guys for not posting many ideas recently, I have been up to my eyeballs working on other projects alongside our private trading group. The neckline was broken on the head and shoulders around the 100 level indicative of further decline toward the 98 handle. Provided the DXY remains below the right shoulder highs and 50d moving...
So it looks like we got a golden-cross on XAUUSD over the past few days, however the DXY did not give us the death-cross it was headed towards. XAUUSD is looking to bull, however today's strength in the DXY halted it's run through 1240. I will be paying close attention to the DXY / XAUUSD relationship over the next few days to see if XAUUSD can continue it's...
Last week was substantial for both gold and the DXY. Gold was able to close above it's 100EMA, and above the key psychological level of 1220, and DXY closed below the key psychological level of 100, and it's 100 EMA. This will prove to be bullish for gold, and bearish for the DXY. Looking at the 5 and 100EMA for both gold and DXY, we can see that gold's 5 is...
Daily close below 98.85 - bearish scenario to 97.85 and next below - 96.40. Daily close above 100.97 - bullish scenario to 101.97 and 103.82
Expect DXY to gain some strength in the first part of the week (100.75 - 101.00). Midterm i think DXY has still some room to drop.
This is a wild (educated) guess with the Trump inauguration in less then 24 hours. However this is what my analysis shows. Limited retrace, then move up to 1.02.
Just a small update on my previous ideas regarding the DXY. Straight-forward sell set-up, strong bear div.
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) Best regards Aaron
Continued idea from before. For some reason there is a delusional expectation that the USD will rally due to Trump and "interest rates". I strongly believe it will fall during 2017. Strong bear divergence in the RSI, as well as the fact that the RSI has rolled over.
There is a strong bear divergence on the 1W and 1D DXY chart. I believe during 2017, the DXY will fall to the low 80's. I base this not only off the bear divergence illustrated above, but my strong doubt that the Fed will raise rates during 2017, and that the US economy will continue to slow.
So guys, when you hear someone talking about patterns that repeat itself, this is usually what they mean. Can you see that similarity between those two cycles? Sure you do :) I am expecting this last leg to end at the TL and the 1,414 to 1,618 Fib extension area. Like if you agree, Follow and support!
Starting in Jul-14, the USD went on an unstoppable bull run for 9 months straight. This is not a prediction but history does tend to repeat itself, so it's always good to see what happened in the past.
Hello guys. Rare post from me on Dollar Index, but I've been waiting for my degree count to complete as well 3 slopes to be completed where 3rd slope is in development followed by crash. This analysis is done on pure JAFR calculations, where DXY constant number is 114.56 and degree count has become greater than this number. Since I used JAFR predestionation...
price has been in pullback mode for a while. Its now back on Important Trendline, which could encourage upward momentum. theres important BULL tests to go through. . but overall, I have a LONG Bias. On Dollar Strength momentum. $102 looks technically possible. FIBO bounce on 0.50 to even 1.382 level.