With the beginning of the new week, DXY shows some reversal signs. For the past 2 weeks, this index has found solid support above 93.
On a local 4H Timeframe Support and Resistance zones are created, so we need to pay close attention when index is near those levels.
currently, price bounces off from daily demand zone and formed double bottom formation, please take a note that the price must be confirmed to breakout the resistance level 1 for the secondary trend to be complete.
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting...
Hello Sophisticated Trader,
Our last analysis was 300+ in gains, now the DXY has found some support and is due for a bounce. Currently, a close back above 93.00 suggests a test of 94.00, oversold conditions also support this and only a close below 92.50 would negate this bounce.
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DXY DOLLAR INDEX - a map for the future - From the LS MASTER TRADING SYSTEM channel
Losing 93.3 , which is the actual support in green would be pretty important for the Dollar. For this reason this level must be carefully monitored.
During the future years, this general map will help our traders to visualize in the fastest way where we are heading in the...
Last week the unbeatable and unexpected NFP result was entirely shadowed by the increment of new virus cases and outbreak. The resilient economy in the US was dragged by the concern that the latest outbreak can impose over the country's recovery.
The DXY shows these sellers pressure where the US dollar is losing its grip as a safe-haven asset, with investors...
Weekly - 1st week of June the market shorted through a strong support level with no retest.
Daily - Market is retracing in a corrective manner. Investors moving money to safe havens like Gold and Silver.
4HR - Market is discretely in an uptrend and expecting a push towards 98.00
1HR - Watching for how the market reacts around 98.00 and the 68 fib level.
The dollar is trending down on a daily graph according to the Ichimoku Indicator, the dollar is having trouble rising above the Tenkan Sen line and is below a red cloud.
The dollar below the 2 moving average lines is important as it indicates weakness and bearish trend.
Dollar currency index have been trading inside a multi sessions bearish channel with tops and lows, it broke the low 97.12 yesterday, almost 100% Fib extension area. I am expecting the market to continue the bearish move towards my 1.618 extension (96.70).