Two men adventuring in the wild. They see a tiger racing towards them. They turn and start dashing away. Then, one of them stops to put on shoes. “What are you doing? The beast will outsprint you despite those” says the other. “I don’t have to run faster than the tiger” he retorts. “I just have to outrun you.” FX stories are not dissimilar. Relative strengths and...
WTI Oil is going down to test 78.23$ level. We will wait to reach target then take another look. Follow to get next signal.
– Previous Weekly candle closed small Bearish at 1992.500 forming Weekly Resistance around 2006.200, Friday Daily candle closed small Bullish forming a Rejection wick to the upside. – Buys on close above 1995.300 targeting 4h Resistance around 2000.500, Leaving Runners to the Daily Resistance formed on Tuesday 31st October 2023 around 2006.200. – Sells on close...
TVC:DXY chart mapping/analysis. US Dollar getting thrown out with US Treasuries as punters pile into "risk-on" trade. Downward momentum to continue until change in trend on lower timeframe &/or Markets flip back into "risk-off" sentiment.
Markets (stock, crypto, forex, precious metals) may be in big trouble if the weekly close tomorrow remains above this wedge, and we head north of the two targets posted above. TVC:DXY has broken above a falling wedge after testing the top of monthly support. On its attempt to test monthly support, over two weekly candles, both closed above it and wicks failed...
Here's a look at DXY US DOLLAR INDEX on a 12 month chart. This year, it's the second time it signalled a big shift on the upper histogram, last time it did was 2021. Is this the start of the big fall for the USD. This may last for a few years -- worse a decade. Again it may or it may not happen, but the 12-month chart doesn't change mind often. I guess we'll see..
With NFP on Friday 06/11/2023 Bears are starting to be in control of the market, already broke the support level of ABCD Pattern and retested it. With the sellers pushing the market down we looking for short seller before NFP announcement.
It turned out that we got very bad NFP release, yesterday. Dollar Index immediately reacted, and the market formed a huge bearish candle on a daily. With one single candle, the Index successful broken a support of a wide horizontal range. It is a sign of a confirmed bearish reversal. The index will most likely drop to 104.5 support soon. ❤️Please, support...
In my previous post on DXY ,i mentioned how i expected it to move up a tiny bit in wave c of Z before starting to tumble. Well, from the fresh piece of evidence available it seems like that the expected tiny bounce failed which in Elliot wave terms means that wave Z has truncated. That also means that the first leg to the expected downfall towards 93-94$ mark is...
Dxy is going through a critical period, after several weeks in a row it lost a bit of its price, the ultimate test, that is, the neckline was finally broken and now it seems that it has room to go down. I have mentioned the important areas. The FED meeting in December can help DXY in a comeback if this will be a Hawkish meeting, but at the moment December is quite...
DXY The price made a strong bearish breakdown of the support area, after a pullback If price stays below support/resistance structure I expect the price to move lower.. Trade Wisely *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.
On the H4 timeframe, price has broken above upside confirmation level of 1.2280, which could see a throwback to the key support level at 1.2190, which coincides with the 61.8% Fibonacci Retracement. A throwback to this zone could send prices higher towards next key resistance level at 1.2320, which is in line with the 161.8% Fibonacci extension. Price is hovering...
#XAUUSD today I'm expecting price movement to sell below 1970-1960 if the NFP is higher than expected but any price movement above 1995.85 we may expect bullish movement, our entry will be market price, following the second trend shows much bearish sideways.
Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸 The market is trading within a wide horizontal range on a daily. The price nicely respected its support and the yesterday's FED decision to keep the interest rates will most likely push the prices higher to the upper boundary of the range. 2️⃣...
USDCAD price is simply retesting the previous resistance which is turned support and an indication of continuation of bullish trend. The potentially next leg move will be at the 1.41…
This morning, the USD on the world market dropped sharply in the international payment basket. Specifically, the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies, reversed and fell 0.69% stronger than the previous session, to 106,150 points.
– Previous Daily candle closed small Bullish around 1986.100 forming weak Daily Support around 1982.300. – Buys on close above 1990.500 targeting 1h previous Support formed around 1995.600, Leaving Runners to the 1h Resistance formed around 2002.500. – Sells on close below 1981.200 targeting 4h Support formed around 1977.200, Leaving Runners to the Daily Support...
EURUSD is neutral on the 1D timeframe (RSI = 52.933, MACD = -0.001, ADX = 25.234) as despite having made a clear bottom on October 3rd, a month has passed and still hasn't been able to close over the 1D MA50. In fact (including today), it has been rejected three times and despite crossing it, it failed to close the 1D candle above it. The two medium term rallies...