$EURUSD is stuck in a large consolidation. Currently we have a high probability sell set up at 1.147~~. From there, my model has defined 1.13360 as the first high probability target and 1.13017 as a high probability reversal.
Mind the triangle forming here before a large impulse.
See the related idea for a larger picture of what is taking place.
good week fellas, as i check the short trend status-can se clearly that in the onging weeks we may see a new lows in the EUR/USD market.
i switched to a weekly frame zone, as the canal shows we are heading in the next 2 years an increasing prices by the dollar index. that may affect the metal commdity sector and the long term bond markets-those need to be in our...
Hello traders, today we take a look @ the DXY
We are nearing an important Monthly S/R level in which we can expect the next trend to take place for the U.S Dollar.
A rejection and we can expect the DXY to target the Bottom of our Monthly Range. We will be looking for Bearish Engulfings via our Lower TFs.
A solid High TF close above 97.25 and we can expect the...
The US Dollar Index is seen to be stalling around 96.20/30 levels at this point in time. looking to resume lower again towards 94.00 levels. Please also note that the US Dollar Index has retraced just above fibonacci 0.618 levels of the recent drop between 97.00 through 95.00 levels respectively. A bearish reaction here is anticipated with bears taking back...
At a major resistance, big test here, I'm leaning short because USDCHF and USDJPY area also looking toppy a long with the stock market and Bitcoin looks bottomed, finding more correlation between those two.
TIme to have a look at the DXY, and we´re now trading close to significant resistance.
61,8% Fib comes in @ 97.83 (16´High - 18´Low), and we´re currently trading @ 96,80 - about 1% from 61.8%.
By breaking that level down in to the constituents of the DXY, we´re getting close to major chart support/resistance ( EUR/USD, USD/JPY +++ ),
and my experience tells me...
DXY just broke resistance, it's respecting a bullish trendline and bullish fan.
As this is a big bullish trend, we should expect it to retrace to Fib Retracement level 23.6 and continue his way to at least 97.40
Watch out for Sells in xxxUSD, buys in USDxxx and XAUUSD (Gold) short.
The US Dollar Index tests resistance at 96.68 levels yesterday and reverses lower again. It has produced a significant engulfing bearish candlestick pattern on the 4H chart, indicating a potential reversal lower. Looking at the larger degree wave structure, the US Dollar Index seems more like to be producing an expanded flat (A)-(B)-(C) correction, that could push...
The US Dollar Index managed to print yet another intraday low at 95.64 levels yesterday and continues to remain under the control of bears for now. The lower degree wave counts (1 hour) are suggesting that an impulse (5 waves) drop could be complete from 96.68 through 95.64 levels. We could witness a 3 wave corrective rally towards 96.30 levels which could take...
DXY is right at the bottom of an uptrend channel in MTF (D and 4H) + Fibonacci Retracement level 0.5 + Fib Fan level + Support area between 95.8 & 95.6
It can go on a bullish trend until 97.00
We should expect xxxUSD to go short and USDxxx go Long
DXY broke the consolidation box and retested it pretty perfectly.
Major Support around 96.00 seemed to hold for a next time, but last week dollar dump took us below that crucial
level. Now we might see slight pullback to that area and see continuation of dumping dollar to 95.00, where is also my first target.
Don't forget about 1st of February's NFP, which can...
Here is the DAILY CHART markup for DXY that I cover in my Weekly Market Analysis video I post every Sunday on all the major pairs, so you can form a plan to trade the markets in the coming week. Just another tool to help everyone in this community. For a FREE FULL VIDEO BREAKDOWN of all these markups, please head over to our website at the following...