On the daily time frame the Dollar index has finally broken free from its bullish wedge. High probability that the upcoming week we shall see the dollar climb. On all dollar pairs there's also a nice setup in favor of the dollar.
DXY 1D Bullish Elliott Resistance: 96,44 - 98,31 Support: 95,77 This is not investment advice
Dollar Index is at a crucial point. We can see a nice bullish wedge. This mostly is a reversal sign for a strong wave up. However the Stoch indicator still shows enough selling pressure is left to push the price further down. ADX is a bit doubtfull about this, could hint at a reversal up. So keep a close eyes on the dollar index. If the upper range breaks we will...
Currently the Dollar Index is hard to predict, it can go either way and on neither time frame there's a clear trend. So I have placed the daily and the 4 hour next to each other to see if we can make a prediction. First the daily time frame that will tell the trend for the next week. There's A LOT of room down to the lower range of the bigger channel and some...
Long term, I see the Dollar Index, DXY, heading lower . However, after ECB meeting, DXY may rise. I am out of short position for now waiting to go short again.
The DXY likely to see more downside in the short term. If this is the case, other currencies should see an upside for the duration.
Dxy trading in range of 96.7-97.7. DXY seems a drop expected toward 96 have to see its drop from current level 97.2 or a jump toward 97.7 then drop.
Time to get long EUR. Speculators have turned net long Euros for the first time since 2014 - when ECB started aggressively easing, and EURUSD was above 1.30. Technically: A medium term trendline at 1.10 has been broken. 1.10 psychological round number taken out. Fundamentally: Euro area has large current account surplus vs US - should drive flows...
DXY 1 D Bearish Support: 96,00 - 95.80 Resistance: 97,40 This is not investment advice
Short DXY, long XAUUSD. Although there may be small dips in XAUUSD, and bumps in the DXY, I'd much rather be caught long in XAUUSD, rather than caught short. This is supported by both fundamentals and strong bear divergence spanning over years. This is not a scalp trade.
DXY: Dollar Index update: still bearish whilst trapped within the parallels (check 1 minute chart and draw in the parallels off the lows)
Bullish momentum fading. Bearish divergence. This is bullish for EURUSD, bearish for DXY. This is in line with fundamentals, with a June rate hike almost fully priced in to the market.
Desc.Triangle break and now retest Big RSI Divergence. Euro short term sentiment (and index formation) pointing to a probable bull run. Seasonality after mid year could point to weakness in DJI and DXY.
Dollar is about to start another decline. check out my other dxy calls USDDKK follows DXY
The US dollar index is at a turning point. For close to 6 months, this index has been in a converging symmetrical triangle that was playing out on the daily chart. During that time, many tests of both the upper and the lower bounds of the triangle have happened, but there was never an actual breakout. This has now changed. On Friday, the DXY broke and closed...
long with trigger pitchfork & end of correction zone (50%-61.8%)