sell-off in the stock-market is to be continued even though we had good earning-reports in the stock-market.
This is showing significant fear and worries for the upcoming election and lockdowns in EUROPE.
If DXY (US-DOLLAR-INDEX) breaks the current resistance of the entire support-level we might see a nice pump and so a huge DUMP for majors...
the previous rosk-off-tone in the stock-market due to an impossible stimulus ahead the election and rising corona-cases in Europe has caused a breakout of the previous descending trendchannel of DXY.
Now with the breakout with could see a retest and so more accumulation by bulls which would cause another impulse to the topside.
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
This was going over my analysis from last week and how I had the DXY coming to the volume imbalance. The market respected the volume imbalance for now and I would want to see a full body candle trade through it then reject to the downside. AT 1:50 in the video I meant to say FVG not volume imbalance it was my mistake either way enjoy the video and click the link...
Here we are going to start to see VIX lead the way and direct the Global Equity flows in a turbulent election and coronavirus struggle..
The S&P 500 is becoming volatile signs of indecisiveness.
We will see the VIX volatile around 18-24.. this zone is and important gap - which has not been filled. - we have been holding losses .. but now easing to...
DXY has touched and bounced from long term ascending support at August closing. I expect USD to start its run up to 104 resistance in mid-term. It looks trend will be approved with elections. Please comment your idea. Thanks..
İf you like my ideas or have your own ideas to share on this market, comment below so that we can discuss.
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions.
Fikirlerimi beğenirseniz veya bu...
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