As I correctly anticipated, DXY broke under 92 important support and that lead to a 1.5% loss for the index, a strong break above 1.2 for EurUsd and GbpUsd reaching 1.35.
Now the index found support in 90.50 area and has formed a small double bottom visible on H1 chart. The neckline of the pattern is broken and we can expect a correction to 91.50 zone...
As I said over the weekend, I expect 92 support to fall, and if we look closely at the price action in USD major pairs we can see that each and every dollar's attempt to strengthen was sold by bears.
Considering 3 months of consolidation above this support and the fact that the index is pushing and pressing down I expect this break not only to happen but for USD...
For 3 months now, DXY is trading in a range between 92 zone support and 94.50 zone resistance.
Although the 92 support has not been broken yet, USD seems very weak with all rallies being very well caped by bears.
I believe that this support will fall eventually and USD will spiral down to 88 support.
In this context AUD, NZD, GBP, and EUR should be bought against...
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
Due to the stimulus talks sluggishness has caused the DXY to reach the current bottom level and broad risk on mode helps the other major currency pairs against greenback but DXY has managed to re bounce from 92.477 And reached the upper side of the trend line and today DXY firmly broken the trend line too and 93.000 will act as major barrier for the bull....
exactly like we anticipated WHAT WOULD HAPPEN ON the DXY for this end of the week, we won't see any big move on the USD pairs until it bounce off the 93,40.
we have to understand that this 93,40 is a very important key level, if it breaks we will see a big move to the downside, and that so we the 93,40 is a strong support level , to break below it , we need to...
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DXY is started to trading within a rising channel and Currently the second wave is underway we can expect the third Elliot impulse wave and the possible end point of the 3rd wave is 94.07.In between this 3 wave we can expect 1-5...
Hi all traders,
This is a video analysis for dxy.
DXY is gonna be volatile as the US election nears.
but we are also at an important levels where traders could make some pips trading it.
So take note of those levels i have explained in the chart.
hopefully you will take some trade off it and make some pips.
As always, do like and share this video analysis...
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Hour 1 chart
DXY is below the 93.50 level and trading within a confined range and its in a consolidation range between 93.35 to 93.50.
On breakdown of the either side will decide the next move of the DXY. On overhead 200 EMA and Downward...
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is not signal. it's my opinion. trade your own risk. and Must Follow Money...
Hi all traders,
This is a video analysis on dxy.
Currently bears are making some short term waves but do take note of some levels as explain in the video for you.
Click on the video and you will be made known of these levels..
Cheers and thank you!
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After the 200 point run from 92.75 to 94.75 its gave back some of the earlier gains. And reached 94.16 today. And reached the downside trend line which is drawn from September 09 low 92.70
We have observed that DXY tend to move from 92.75 93.75 94.75 levels in upcoming days will update about the market reaction from this levels
After reaching the 50%...