Ascending inverse scallop, looks like the short term drop has already begun, looking for bullish continuation.
Following FOMC yesterday, DXY has broken the trend line channel support and now is trading at 97.15 which coincides with horizontal support. We believe that we assist to a chance of trend and we can expect the index to fall to the next support at 96.00
With projected negative interest rate DXY will weaken against all major currencies. For now consider this as an ABC correction. Gold, Silver, and Stock Indices should go up too. Good Luck. Be patient!
Price has been on an uptrend since January 2019 giving us a series of Higher Highs and Higher Lows, shown clearly on the Daily TimeFrame. Price has also been rejecting to push higher than 98.00 since April 2019. I have highlighted the MACD divergence seen on the Daily and 4HR indicating the possibility of a bearish run. Moving to the 1HR, price is sitting on the...
Hello Traders, welcome to the Weekly Forex technical analysis. Today is April 15th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the daily chart just to get into the calendar, and have an outlook into the upcoming week. Looking at the Dollar Index here on a weekly time frame, we can see a rising wedge type formation playing out. Last week...
I believe the dollar is still starting the week strong following last week. The US Dollar sustained inflation as well last week which allows hopes for the Fed to raise the interest rates four times this year to allow the bulls to run.
USDDOLLAR is in a short trend from the looks of the Weekly and Monthly chart. If the current support level is broken, then we can expect it to go down 400 pips+ below until next support. Depending on the price where you sell, do attention to your SL. This is a good move to keep an eye on.
With wave 5 almost reaching the 89 target. (See previous related idea from October.) I think it should hit the psychological level of 90 before any bounce. The bounce should be a zig zag and should not go above the December 2016 high.
Dollar index broke a key monthly support level last month and is currently trading below this monthly resistance on bigger timeframes. In this setup, I see a bearish pull back on the daily time frame and a good time to buy other currencies and gold as they are all on their pull backs as well technically.
Hey guys, Here's my view in the Daily chart. I'm not planing any more sells, I will wait for trend breakout and look for flags to buy! - Hola chicos, Aquí está mi visión en gráfico Diario. No voy a planear más ventas, esperaré a la rotura de la tendencia y buscaré banderas de compra! Carlos
Hey Traders, We have been analyzing this structure for a few weeks already in DXY (US Dollar Index) We are expecting a fifth move in the diagonal and then a breakout towards to the -0.27 fibo level potentially. When this happens, all USD pairs will be affected. - Hola Traders, Hemos analizado esta estructura durante semanas en DXY (Índice del Dollar...
How far will the US Dollar fall? A first and sound goal is this open gap at the level of 98.99. After closing the gap the DXY will perhaps change it's direction and start moving bullish. I think this is a good way of orientation for all other major pairs. What are you thinking about? Any comments are welcome. Good luck and a lot of pips for you all!
From the chart we can see that the US downtrend will probably end around the 3rd of Feb. A bounce around 12200 and break from the red line, would clearly indicate the end of the pullback after the strong USD rally. Many important news are coming at the end of this week and during next week, which could really speed things up depending on how good or bad they are...
SHORT DOLLAR AT 12169. MAJOR RESISTANCE LEVEL. STOP LOSS JUST ABOVE THAT LEVEL.