As the DXY rises, commodities generally will fall. Even though GOLD sometimes is thought of as more of a defensive asset and inflation hedge, that theory has been moot lately.
SILVER and GOLD (the Burl Ives trade) will continue to languish in these downward channels on the weekly charts as long as the dollar is remaining strong. They are both extremely oversold...
With a 15% volatility move on XAUUSD and a strong demand for the dollar. This is my projected move for XAUUSD.
The idea is based on fundamentals on the dollar and how it could possibly affect Gold price movement then volatility and Fibonacci retracements on the weekly timeframe to forecast price targets.
Aussie Dollar isn't as bullish as most people think. Aussie is weak, in my opinion, hence this short trade against King Dollar. We'll look to TP around .7100 support level.
Feel free to comment below and let me know your thoughts.
Cheers, and Happy Trading!
Dollar Index momentum turning bullish on the daily time-frame. The break of the ascending triangle suggests that USD turns bullish at the start of next week for the long term.
Happy Trading folks!
Cheers!
DOLLAR Index turning positive after a decline for quite some time. A good possibility that this is the beginning of an uptrend for KING DOLLAR!
Happy Trading folks!
Cheers! :)
the Rise of Dollar indicate a demand of currency which is widely used across the universe...
buy dollar to get in US STOCKS and make a killing with Cryptos APYs usdt usdc at 6% or better
King Dollar.. is the gateway
Please see my old post for context. We have confirmed a structure break and it will be interesting to see if this down move picks up steam or retraces the next week.
What I got WRONG:I anticipated more bids around 1.21 and below.
What I got RIGHT: Bearish sentiment and confirmed down trend
On the news front next week is busy, especially the later half. As I...
First let's start by looking at the monthly candle. USD Index lost over 76% of its gains from the low 95.50. Although the month is not over, there's a question to be made whether USD peaked @ 97.00 level. As we look at the weekly timeframe, USD index put in a shooting star for the week prior, also what I considered a dark cloud cover pattern. It's tough to say...
I thought we are gonna get a reversal with the huge bid upon tagging the 200 weekly MA but so far its just retesting the breakout
Entry: 1.15665
Stop: 1.7459
Target: 1.06670
To start the month of August, our expectation was for the King Dollar to retest the highs before moving lower. That, however, wasn't the case as USD closed above the monthly downtrend line. If you have been following this analysis for a few weeks back, price levels and trend line hasn't changed a bit (except for a couple add-ons - update). Looking even further...
