Dollar bears love hearing that Joe Biden (if and when he takes control of the White House) will appoint Janet Yellen as the next Treasury secretary, making Yellen the first woman to hold the position.
Traders see Yellen as a "dove", meaning she should be very accommodative and a strong proponent of rates staying lower for longer. Also, since she was formerly the...
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Bernie Sanders replaces Joe Biden and Defeats Donald Trump
Electoral Victory 84%.
Populous Victory 89%.
BULLRUN in DXY means DROP in Index-Equities =...
I have drawn this before on weekly basis - thought it would be a good idea to show it on more granular level using daily chart.
This week the US Dollar (DXY) put in a double bottom matching the low of August 18th. This may be an inflection point.
The Dollar Index absolutely could go lower to about 91.50 and still remain in this channel. This is where a 12...
Market always retrace in FIb levels step by step , 12 month last pullback was exactly from 61% fib now 50% fib is around 91.30 this could be a possible reversal point .
Once it will break 91.79 it will attract lots of traders to go short on $ and then a sudden reversal.
so from 91.79 to 91.30 could be the best possible bear trap. last day of month big bear...
Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of DXY
US index -DXY analysis 06 Nov 2020
I hope my analysis will help you in your trading best of luck
share your point of view about DXY in Comment Section , Thanks
Simple Support & Resistance combined with past reversal points to come up with multiple confluences for my DXY prediction. Fibo is just part of my reference,you may exclude from your point of view. There is also a divergence between the price and the RSI. I'm still learning so welcome all comments to improve.
As I said over the weekend, I expect 92 support to fall, and if we look closely at the price action in USD major pairs we can see that each and every dollar's attempt to strengthen was sold by bears.
Considering 3 months of consolidation above this support and the fact that the index is pushing and pressing down I expect this break not only to happen but for USD...
For 3 months now, DXY is trading in a range between 92 zone support and 94.50 zone resistance.
Although the 92 support has not been broken yet, USD seems very weak with all rallies being very well caped by bears.
I believe that this support will fall eventually and USD will spiral down to 88 support.
In this context AUD, NZD, GBP, and EUR should be bought against...
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.
In this very simple chart you can see that DXY is holding support at the 92 level for few months now.
Vertical lines are marking those areas where the stoch was below the 20 level and made a bullish cross.
Looking at it I am bullish on the US dollar for the next 3-5 years, unless this 90-92 level gets broken.
Can Biden's term be better for the mighty US $$$...