usd jpy down to 146.94 by dxy in a reversaldivergence making wave number two after this last days of bull market innit we got the first reversal sign for the 2nd wave of Ellitot making it go to 146.94 arround that area in my pov, before turning agaoin up to 161/2
Pair : DXY Index
Description :
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Fibonacci Level - 38.20%
The dollar is about to break the last significant structure on the monthly time frame. We have seen the dollar dropping over the last few months after its reaction from the last swing high.
Market structure shows price creating lower lows and lower highs which are confirmed by endless BOS. We can see a clear 11min OB has been left from the last low that price...
Pair : DXY Index
Description :
Completed " 12345 " Impulsive Waves
Consolidation Phase
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Triple Bottom
On the 4-hour chart (4H) of DXY (U.S. Dollar Index), the price is currently in a downtrend, indicating a strong sell opportunity.
Sell Levels: 101.200 - 101.500
The price has reached a potential selling zone between 101.200 and 101.500, which is acting as a resistance range in the current bearish trend. This is a strategic area to consider short positions as the...
DXY ~ NSE:DOLLAR ~ 1W
#DXY Movement is always in the opposite direction of #Bitcoin.
Looking at this Chart, #DXY Loss of Momentum and breakdown of this support line.
Send Bitcoin price $100,000+ in 2025 Q1
Pair : DXY Index
Description :
Completed " 1234 " Impulsive Waves
CHoCH
Bearish Channel as an Corrective Pattern in Short Time Frame
Fibonacci Level - 50.00%
Impulse Correction
DXY can see some correction to the upside and reach 102.5 or even climb up to 103.5 before September 18, 2024, which, most probably we'll see the first rate cut after a long time.
So be patient and wait for this week's NFP.
Check out my post on June 11 to see how DXY followed our yellow scenario. 😉
Technical Confluences:
Price action is in Oversold conditions in the Daily and Weekly Timeframe. Likely to see some consolidation of positioning here.
Price action broke out of an Upward Sloping Parallel Channel and cleared itself out of the that Interest Zone too. Likely will see a test to re-enter that Channel due to Oversold conditions.
Elliot wave count...
DXY broke the symmetrical triangle on the 1D timeframe, breaking the previous low.
I believe that a bearish trend is starting in the short term, if this is confirmed it could be beneficial for the crypto market.
DXY finally hit our target under the 102.00 zone.
Since 1 August, DXY has dropped continuously. Right now we are looking for a reversal pattern near the 101.4-101.8 zone.
our view has been negated if the price breaks below the 100.650.
Our technical view has been shown in the chart.
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Thanks For...
**Monthly Chart**
DXY monthly candle closed as bullish. This month's candle (still active) reached the supply zone last week around the 106 level and bounced lower from it.
Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
**Weekly Chart**
Last week's candle closed as a bearish engulfing suggesting a...
CPI is lower than expected, gold falls off a cliff, can the US dollar survive the desperate situation?
Today, the US seasonally adjusted CPI annual rate for the end of July was lower than expected. With gold and silver slightly bullish, gold price fell from a high of 2474 to 2050, a drop of 24 US dollars.
Everyone knows that if gold price falls, the US dollar will...
SELL on the theory markets ranges 70% of the time, and SELL on the theory markets retraces half of the previous leg 90% of the time.
I would get in now.
Yesterday, the deputy governor of the Bank of Japan said that "the market is unstable and there will be no interest rate hikes". This is a relatively "dovish" statement. In addition, the upcoming September interest rate cut conveys a good opportunity to enter the market.
That is, the US dollar will still fall. Although the market is narrow today, the US dollar...
In our last analysis, our prediction played well, the DXY corrected to 103.7, and after NFP data reached 102.7.
With the fear of recession and NFP data, We are expecting DXY to retest the 102 zones.
Our technical view has been shown in the chart.
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Thanks For Reading
Team Fortuna
-RC
(Disclaimer:...
