On the 4H timeframe, the DXY has broken out of its bear channel and made a retest as seen on the chart. If the .5 fib zone holds, we can expect some strength on the US Dollar index.
DXY - Daily chart - Price is very near to the daily/H8 demand zone which is my buy entry. Waiting for price to dip down a bit more before taking longs on dxy pairs and selling other majors fx pairs.
In this video, I break down how the U.S Dollar has been strengthening against the EUR. JPY & CHF since the start of 2021 as U.S Bond Yields have been rising due to inflation expectations. This is extremely important to understand when trading currency markets. I breakdown this historical relationship using excel spreadsheet examples and live chart analysis. Enjoy
US Dollar Index- Reverse Head and Shoulders pattern confirmed.
Initially prevailing Downtrend - Yellow line. 1- Downtrend is disrupted. 2- Temporary new dip is made (either higher, equal, or lower than prior immediate bottom). 3- Old previous high of 2 is taken out. If all 3 points are taken out, this is a 1-2-3 trend reversal. For further information: thepatternsite.com
AUDUSD SHORT!!! AU is still looking bearish. I will be waiting for my key areas to get hit on the lower time frames before entering. Lets see what London Price action gives us!!! Follow us for more forecasts!
EURUSD is starting to look bearish, . I will be waiting for Price action to develop a bit more before I look at executing a high probability trade. Follow us more forecasts and trade setups.
GBPUSD upcoming forecast. I will be waiting for PA to develop Monday and Tuesday to see if we can get a potential setup. Give us a follow and a like as I will be posting more of my trades and potential set ups.
This is what I am expect From US Dollar Index.
Self-explanatory.
Having used a line chart to identify daily supply and demand areas, price is retracing to the highlighted area before continuing general upward movement
It is possible to expect some strength on USDMXN, a potential retest to the descending resistance of the daily channel.
USDCAD has for the long term been on a bearish decline, however price has struggled more recently to break below an area of support, rejecting this area on two prior occasions. Based on the close of Fridays candle we can see that price seems to be rejecting this area for the third time. Having broke back above an intraday level of resistance on the 1 hour, I would...
After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken...
dxy still can drop another leg in short term trades , but i don't think it will continue to much lower levels in 2021. when the equity markets goes for correction (up %40 can be expected) , DXY can spike up over 100 again.
All the other pairs going against USD will be dropping as the mother predator rise. COUNTERTREND