I think we're going down!
What do you think?
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hello traders ,
Welcome to my price forecast of US dollar index .
us dollar is still in bearish scenario.
as you see there is Ascending broadening wedge pattern, most likely it break downside .
and our target is at major support 88.25.
I have many ways to enter into market and one of them is after channel break.
Thanks for Watching my idea, have a green day ..
From the start of the Corona pandemic, USD was very weak, with the index losing around 15%. At the beginning of the year though, DXY seems to have found a bottom in 89 area and has started to correct.
At this point a new leg of correction is probable and I expect 90 zone to hold firm.
I'm focusing mainly on Aud&Nzd for short trades. Also UsdCad long can be a good...
Most important week of the year is here, the next upmove on the dollar will decide the top of stocks
Then the 2 wave will start the correction from the downmove on stocks and gold /silver
3 wave will be the impulsive which will crash stocks and send gold to 1400 target
This is my view, Good luck everyone
Hi guys..its the latest analyze chart of DXY in 4H time frame .if you are interested any crypto that you want analyze with me and any questions please do not hesitate and comment below the chart!
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What Is a Head And Shoulders Pattern?
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis , a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders...
The dollar index could not overcome the $91.018 High and went under support. If the price did not set a higher high, most likely the downtrend will continue and a lower low will be set
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What is clear is that USD is weak but also is clear that the market can't be unidirectional indefinitely.
Usd counterparts started the year strong but the new highs (and new lows for the index) are marginal and lacking power. So far all that USD could do was to have some intraday correction and I think this is about to change and we will have a lasting...
I was pretty bearish USD till now and I wasn't disappointed by now and although in the long run I maintain my bearish outlook on DXY, at this point a drastic correction can be just around the corner.
With DXY approaching a strong support and old congestion zone around 89, I think Dollar bears should be very careful.
From the risk point of view also I can't see a...