100 proved to be strong resistance for Usd Index and the "basket" put in a nice "evening star"candles formation visible on the weekly chart. Now the index is sitting just above support and a break here could accelerate losses towards 93.50 and 92.30. Considering the fact that the losses are made from usdjpy depreciation and eurusd gains a break will also effect...
- waiting for a push to break the downtrend trendline - waiting for retest - then waiting for price action confirmation before entering long patience is a virtue
ENTRY: 98.60+- TP: 98.40 TP2: 98.20 TP3: 98.00 SL: 98.85 Chart time frame - 4H Time for reaching TP - 1-2D Follow, Like, Share or Comment Thanks on supporting! All best!
The decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend. Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag...
Hi traders, Keep your eyes on 5 min time frame for price actions before taking the sell.
INDEX:DXY FRED:DTWEXM Here is an interesting difference between #DXY "The Typical most used USD Index" and #DTWEXM "The Trade Weighted USD Index" that is believed to be more accurate than DXY. The 2 pairs have been identically moving together but now we experience an initiative fall on DTWEXM to break the channel. Is this telling us something about the future...
Welcome to our Academy. We’re here to help you achieve what you have been looking for. Use our free analysis where you have everything you need for potencial trade ideas and profit. USDCAD – Buyers at very good position Trend: Buy/ Neutral Support/Resistance: R3: 1.32490 R2: 1.31750 R1: 1.31150 S1: 1.30471 S2: 1.30000 S3: 1.29500 Price action: In...
As mentioned before, it's in the process of making a correction under the line, we expect the down move if ONLY it breaks the line to the upside and makes a flag the idea will change, but so far everything suggests the continuation of the down move. For now, we have to wait for the correction. Trade with care and stay green. Please let me know your view about...
In this video update, we take a look at the USD and how the recent weakness is affecting other markets. We also talk of using the strategy more recently on the Dow Jones and how it would have played out in your trading.
Usd index, long term view. Base on fibonacci, trendline, will drop more.
Forming double bottom with divergence on RSI, looking for earlier entry through the break of the downtrend line, then add on the break of the neckline resistance zone. Good risk reward, target the next resistance at 61.8% unless we see a major shift in dollar sentiment.. Good Luck!