We start the week with the USD Index above key resistance at 93.455 leading to a Bullish bias in this market next week. A failure of resistance would pave the way for a re-test of support at 92.635 however as long as we remain above 93.455 we will only be looking for longs in the USD Index next week.
Hello Traders,
With the Fed meeting tomorrow I expect the dollar to strengthen. Although a rate hike is not likely until December, I believe the market will react now in preparation of the December rate hike.
The Percentage points represent the probability of the target to be hit.
After the breakout of an Inverse Head and Shoulders the USD Index hit the 93.635 area as highlighted last week. The near term uptrend is still intact meaning we are looking for further advances in the USD Index. However, price is currently at a key area of resistance (93.635) which has the ability to reverse the near term trend. As long as price stays above the...
The USD Index confirmed the breakout of the Inverse Head & Shoulder pattern last week clearing the way for further advances towards the 93.635 and 94.630 areas of resistance to the upside. A re-test of the broken resistance area of 92.565 turning support would provide a great area to look for long opportunities. Advances in the USD Index should drive USD Strength...
As you can see on the chart, I think we had the top on Dollar Index at 103 and we are not going back there anytime soon. The entire Daily structure looks very much like a reversal to me (maybe a Head&Shoulders). With this being said, I also think we had the daily swing bottom set couple weeks ago at the price of 91 and we are not going back below until USD Index...
Today's GDP didn't surprise the market, if any at all. Perhaps weak US data for the past few days has finally balanced itself with today's GDP report. Looking ahead towards a new month, what's in store may confirm a dollar reversal with upcoming NFP to start the month of October. Until then, it's a short all the way until "CPI" ticks back up. Cheers, and Happy Trading.
Its a clear signal from the part that i round!
i know a lot of people already hold long sell position from 1.1712 area from yesterday bull, this is a warning for small account that this market will go towards 1.18xxx area before the Big down or continue to 1.2, reason are pretty simple its because weaker usd are good for business and according to the previous...
Quoted from Scott Carney's Harmonic Trading V1: "The exact 0.618 B point requirement was just one condition in this interpretation of the
structure".
In this Gartley B retraced only 0.578 and not the required precise 0.618, but coinciding with AB=CD 0.707-1.414 and with stochastics in over sold zone and price braking at the demand zone ... let's see if those...
