Pattern: Channel Down on 4H.
Signal: Two sell positions, one now and the other in the event of a 0.786 Fibonacci spike, similar to what took place after the previous two 4H Golden Crosses.
Target: 90.350 (the bottom of the Higher Lows Zone).
Most recent DXY signal:
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DXY is overall bullish trading inside the red channel so we will be looking for Trend-Following Buy setups as (if) it approaches our lower red trendline. Knowing that DXY can still trade higher from here, to reach 94.0.
Here are the two strong zones where I will be looking for high probability setups:
I call them War Zones , (highlighted in Purple circles)
...
While all the talk in the town is against USD, My view is for stronger USD at least to the next target 94 ish mark, if not more.
Trade is invalidated on a daily close below 88
Weekly RSI divergence also supports the idea
thank you
Im looking for more deep retracement for USD Index, before continue buying the USD. Formation flag chart pattern will confirm the USD to continue in UPTREND movement
This is an analysis of the dollar index.
From here we can draw conclusions about what will be the movement of each instrument against the USD.
This is our forecast for next week.
We see the higher bottoms and higher peaks that the dollar has formed in the last month.
The decline of the last 3 days is a completely normal correction and we expect the dollar to...
After reaching 89.20 low, Usd Index seemed to have found some life and corrected to 91 zone.
A new attempt from bears was met with strong buying in 90 zone and at this point, it looks like we have a higher low in place.
I expect a new leg of correction from DXY and my bullish bias will remain intact as long as 90 support is intact.
My target for Usd Index is 92...
For more than a week now, USD Index is consolidating above 90 important psychological and technical support level.
Yesterday USD found some life reversing against its counterparts and I expect a new leg up from the Index.
91.50 resistance is my first target followed by 92 zone and I will look for selling opportunities in EurUsd, NzdUsd, AudUsd, and GbpUsd
Here is an update on the DXY
RECAP:
In our previous analysis we expected the DXY to be bullish. DXY was trading at 90.9 and was within the ascending channel
DXY fell and broke below the ascending channel and also our support at 90.6
After breaking below support we expected DXY to continue its downward trend toward 90.4, 90.0 & 89.2
DXY continued to fall to 90.39...
After reaching a bottom just above 89 figure, USD Index started to correct higher and has reached 91.50 strong resistance.
The rise from this bottom is in a clear ABCD corrective structure and is signaling a potential drop for the Dollar and the presumption of long-term downtrend.
Support is now just under 91 and a daily break under this support will be a strong...
Expectations are a move to the upside surrounding positive news of Mario Draghi being approached to become the Italy's Prime Minister.
On the USD Index (DXY) front we can see a stark resistance being formed around the 91 handle with expectations of a pull back to the 90 region.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.20075
TP: 1.22555
greeting guys
THis is my usd dollar index forecast ,price has made inverse head and shoulder . we should expect more buy pressure from that zone ,as we can see the sellers pressure has ran out of momentum, a succesful break and retest will see the price to make new higher highs for the year ,relatively the usd stimulus packages that will be effect from mid...
