H4 - Bearish trend pattern.
Lower lows.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
The outlook for the Dollar this week is a continuation of its bearish trajectory. With a recent downside break in structure, I anticipate a correction, expecting the price to retrace into the 14-hour supply zone.
Upon entering my Point of Interest (POI), I'll wait for price distribution and a change in character as a signal that the dollar is prepared for a...
My bias for the dollar this week remains bearish, leading me to seek pro-trend trades from any proximate valid supply zones. With the recent reaction from my prior 3-hour demand, I anticipate the price to continue its ascent to address the imbalances above.
Subsequently, my expectation is for the price to undergo distribution within a supply zone identified on...
DXY confirmed its breakout from the bull channel to the downside and is currently showing some minor support at the 200EMA. I would expect the price gap from here to the 9EMA at 105.000 to close followed by another leg down. We have to be careful to not get caught in a 2 legged trap, which is also a possible outcome at this level.
How do we trade this?
Wait...
DXY seems to be forming a bearish flag pattern which could lead to a further downside in the price. This could be a great thing for BTC, as DXY goes down the price of BTC could rise.
Dollar is consolidating, going to wait for confirmation of direction on the DXY too before taking any USD based positions, unmitigated supply above and liquidity building below, price will probably tap supply and break to the downside towards the shark D point, but let's see!
Let me know your thoughts!
* Disclaimer **
These ideas I never trade until the end...
The markets are now correction and despite the fact the dollar has had a slow rally in 285 days it struggles to gain momentum and stay bullish. Now you can see from the charts that its heading into some sort of consolidation zone and I would personally short the dollar if I were trading it. I do not have any open positions on the DXY and I would watch it...
As I expected just hit the top of the right shoulder. We will see next week if it goes up or heads down to complete the Head and Shoulder pattern.
If it is goes down and completes Head and shoulder we can see some long positions on USD pairs. I see this high possibility to goes down.
Today USD did some strong moves but I am still bearish on USD!!!
please share...
dxy have created a head and shoulder structure . this mean that dxy failed to create a new higher high.
another confluence is that on the left we have imbalance that should be filled .
+ we have a 4h orderblock and a fresh demand zone that is waiting :D
The dollar has been in a downtrend since late March 2019 and I'm expecting a bearish rejection off the 50DMA. If this were to happen I expect us to reach new lows, which would be very good for stocks and crypto markets.
Inversely if the dollar is able to break the turquoise downtrend line then that will be a worrisome signal. One thing to take note on is there...
watch for short setups .
EURUSD can reach up to 1.24 or 1.27
GBPUSD still targeting 1.36+
after this downturn i think DXY will reverse up & go for 104 + due to market crash. even 115+ possible in 2021.
good luck.
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Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Crazy to see that the US dollar weighted in gold lost 91% of its value from 2001 through 2011.
I think the trend continues and we finish what we started in 2008/9.
Look at 96-2001 and 2014-2019. Eerily similar.
