As I expected, DXY broke above short term wedge resistance and reached my first target. Now the index looks determined to continue its upward correction and 92 could be the target for such a correction. In my opinion rallies in EurUsd, NzdUsd, AudUsd should be sold, and also a buy trade for UsdCad could be a good choice
What is clear is that USD is weak but also is clear that the market can't be unidirectional indefinitely. Usd counterparts started the year strong but the new highs (and new lows for the index) are marginal and lacking power. So far all that USD could do was to have some intraday correction and I think this is about to change and we will have a lasting...
wish you all the best.
A great volatility day for USD Index yesterday and, after opening with a gap up, the index fell in the afternoon and from a technical point of view, just filled the gap. Now it seems like we have a strong base on 90 and slightly under and I expect a correction to follow. Pairs that I have in focus for selling are EurUsd, NzdUsd and AudUsd
Last week I said that I expect a new low from USD Index and my opinion doesn't change. After a short-lived rebound from 90.60 support, DXY opened last night with a gap and dropped again, not being able at least to close the hole gap. This tells me that a break under the support area could be just around the corner and DXY can have a new leg down even under 90...
As I correctly anticipated, DXY broke under 92 important support and that lead to a 1.5% loss for the index, a strong break above 1.2 for EurUsd and GbpUsd reaching 1.35. Now the index found support in 90.50 area and has formed a small double bottom visible on H1 chart. The neckline of the pattern is broken and we can expect a correction to 91.50 zone...
Hello Traders, Here is the Top-Down Analysis of DXY for Week 50 - Dec 07 M > Price has dropped beyond monthly support and is approaching wide monthly demand zone. W > Placing Fib on last major bearish support (June - August 2020) we can see that price has just tested -0.272 level, if price fails to recover it can continue to drop till -0.618 level which also...
For now, DXY is trading above 92 important support, and although this is an important support USD looks very weak overall. The price seems to press on this support and we can assist a break soon. That being said USD is bearish on medium-term and only a break and sustained buying power above 93 would shift things in bulls favor.
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92 zone proved to be strong support for DXY and last week the price turned from this zone putting in a nice bullish engulfing from here. The price corrected the recent up move and now looks ready to challenge the range resistance at around 94. In this context i will look for selling opportunities in EurUsd, AudUsd, NzdUsd and GbpUsd
Dollar ABC correction wave from main trend, + B wave completed from upside trend, I dont see dollar bearish in any form
Hello Traders, Here is the Top-Down Analysis of DXY (Monthly, Weekly, Daily for direction) for Week 45 - 02 Nov M > Price dropped till monthly support, faced rejection and started bullish move. After a huge bearish dump we expect price to retrace for correction till at least 0.382 Fib level on month bearish impulse. Price is yet to reach this level. We can...
DXY IS BEARISH ON DXY BUT ITS STILL NEED A RETRACEMENT
To break is my opinion... As I said in my previous analyzes, I'm bullish DXY. The index has clear support above 92 and at this moment is trading just in trend line resistance. I believe this resistance will give up and will see an upwards acceleration for DXY. My target is 96 with interim resistance just under 95 Usd should be bought on corrections against its counterparts
I'm bullish USD on medium-term, and the price action for Usd Index comes to confirm my outlook. 92-92.50 zone is extremely strong support for the index and now we have a false break under the previous low which gives me reasons to expect higher prices. A clear confirmation for bulls comes with a break of the down trend-line and, as I said in past occasions, DXY...
All fundamental news, Corona virus increasing massive across europe, how market is behaving lately, and all technical are setting up for one of the biggest recessions in history to happen, and we can see this at the dollar chart which is a clear falling wedge at my view, preparing for a massive move, we need patience, but it will happen, elections might trigger this move