End - week/Weekend forecast of DXY, the future of USD/XXX pairs. Pattern: Bearish flag (price broke out of the bearish flag and is now trading in an impulsive nature.) Bias: Anticipating a correction before continue with the bear run, however, i'm open minded to the impulsive approach.
DXY looking like its slowing down after the impulse move to the upside. Now forming a rising wedge and close to a AOI. Favouring downside for this but neutral at the moment waiting on clearer confirmation as to what the market will do to give us the highest probability trade. Will update during the week.
Twin deficit has resurfaced as a driving force towards DXY decline. At this point pairs are being controlled by psychological trend levels. Presented is the DXY day chart. We can see a clear drop for a retest of the 2018 low which in contrast brings pairs such as NZDUSD, EURUSD, GBPUSD, etc to levels breached in Jan 2018. A fundamentalist like myself begins to...
The overall trend was upward and the trend was violated as you can see I've drawn the blue dotted line. The current price has started making Lower-Highs (LH) . However, the there is no Lower-Low (LL) . If you go into technical terms, Rising Wedge and Symmetrical Triangle is being formed
USDCAD- If we look closely we can see that it rejects from the trend line. And we expect that in the next period to rise 200 pips. First around 1.31700 then around 1.33200. And if we look carefully we think that in this area it forms a W.
Check out my projection.. Flat C wave first leg could be a triangle..
EURUSD has hit a resistance that it recently tumbled down from. Expecting a downturn to 1.1043
This low could not get any lower... at least, not for now. The chart does depicts a lower high which could signal a downward trend once it breaks the firm support at 0.9604. But for now, this support is showing signs that it's holding firm which gives bottom pickers a buying opportunity to step in.
AUDUSD faces a resistance at 0.6665 but is poised to break this level for further heights. Between 0.6665 and 0.6664 are great buy in opportunities for the long ride.
the USDCAD got knocked down by a trendline
USDCAD: Resistance in 1D, Yellow, Range USDAUD: Conflict Signals Bullish Divergence (Blue) in 339m (5.6H), Support Bearish Divergence (Yellow) in 4D-5D Resistance USD Pairs being monitored: USDAUD , USDCAD , USDCHF , USDGBP , USDJPY , USDEUR Time Frame: 1H - 2D DISCLAIMER This is only a personal opinion and does NOT serve as investing advice NOR trading...
In this chart i draw possible movements of dollar index. In the coming weeks the first move is down to 92 level.
This will be my views of USD/JPY (Aug 2018) Please make sure to read the "update" comment as there will be changes along the way. Cheers. S0nic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities...
SHORT TO 95.65 Should affect all USD Pairs as well
USD/CNH is showing signs of exhaustion after a bull rally which started in April 2018. Appearance of wick rejection at current high. On the day chart we see an evening star pattern, and a large bearish engulfing candle. Using fib and impulsive movement of price anticipate retracement to at least 50% or 61.8% fib level, which are key levels of this pair. Dollar is...