Dollar has weakened significantly since mid NOV-22
Driven by institutional selling of long contracts since begin Q4-22
Assisted by accumulation of short contracts sinds JAN-23
Outlook for Q1-23 remains sideways to down
Next downside level is 99.60
FOMC & NFP:
Before another drop below 100 big figure a retrace is likely
103+ will likely be...
The advance in the U.S. Dollar Index from the early 2021 low remains very much intact. The monthly chart has an unmet target of 120-plus, so this for now is where I think the USDX is likely to go as long as the parabolic curve is not violated.
The DXY on the 1 Day has set itself up a Piercing Line Reversal pattern while on the 2 day it has settled at the 200 SMA while showing Bullish Divergence on the MACD. If this plays out, it could go for an ABCD move upwards between the .618 and .786 Retraces. This could especially be a good time to enter AUDUSD shorts.
In short term Elliott wave sequence, EURUSD favors pullback in wave 2 started from 1/26/2023 high before upside resumes in wave 3. It is correcting in wave 2 in 3, 7 or 11 swings against the bullish sequence from 1/06/2023 low and expect to find support at extreme areas before turning higher. Since 1/06/2023 low, it placed ((i)) at 1.0868 high in wave 1. Below...
Looks like EURUSD is heading for 1.1250:
1500 Pip Seasonal run from 0.975 to 1.1250
Dollar is weak(ening, looking for USDX to drop below 100
While Dollar in weakening-mode EURUSD is going strong
COT Longs: Institutional Investors accelerated their long position
COT Shorts: Institutional Investors pauzed their short position
Previously, it could be seen that DXY, the price has dropped, let's test the key support zone 101.560
Here we expect a chance of price reversal. Wait to buy the red zone, targets 103.75 and 105.25 >> GooD Luck 😊
The dollar has been ranging for well over a week. This could be price bottoming out, but before we make that assumption, there are steps in between before knowing for sure where the dollar wants to go next.
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XAUUSD Bullish on the weekly chart, still above 10 and 15 day EMA as well as 50 day SMA. Good distance between 10 and 15 day EMA.
XAUUSD Neutral on the daily chart 10 day and 15 day EMA have touched one another, but haven't crossed. XAUUSD remains above the 50 day SMA
XAUUSD Bearish on the 4 hour chart 10 and 15 day EMA have crossed with 15 day EMA now above...
The USD index has been in the demand zone for some time, but it cannot break out. In my opinion, the price wants to continue its path down a little more before it starts to form a new short-term uptrend.
- Seasonally USD is weak in DEC
- COT: Asset Managers in charge of Dollar pricing
- COT: Asset Managers in distribution-mode since SEP above 110.00
- S&D: 100.00 is Weekly demand-zone offering liquidity to buy back shorts
Looking for a drop to 1.30 big figure
COT: Looks like Institutional switching from acc. to dist. CAD shorts
COT: USD longs in dist. mode since Q4-22
COT: Both developments spell more downside for USDCAD
Pivots: Q1-23 starts with selling the Qarterly Pivot
Pivots this predicts Quarterly S2
TA: Daily downtrend evolving with a HH > HL > HH > HL...
Hi Tradingview Family,
Shaquan here. Today I noticed the Dollar Index(DXY, USDX) made a new low. What this tells me is the sellers still have control and it's time to look for another selling opportunity on USDCHF while buying EURUSD.
I'll be going live on Trading-view at 8:00 pm EST. tonight to cover the in detailed analysis while sharing with you the 10 tools...
Hello TradingView! This is going to be my first ever analisis I publish, so please, keep this in mind while you are executing your trade. This is not financial advice.
We have seen an amazing bull run in Gold these past weeks ever since the Dollar (DXY) broke down. Now that the price is consolidating in an ascending wedge, while the DXY is correcting, some...
The dollar index continues to weaken. The rate is moving towards 100.
This trade will be held until Sl and tp.
Due to the weakness of the dollar, the stock market is expected to recover.
Will buy if it reaches sl rate.
- SEP FOMC meetings pivotal post-Covid
- From FOMC SEP 2020 until FOMC SEP 2021 price was accumulating in a range
- From FOMC SEP 2021 until FOMC SEP 2022 price was trending up
- Trend progressed in 3 COT-stages:
1. Re-accumulation (Large COT increase while price remains relatively depressed)
2. Mark Up (Limited COT increase while...
Head and Shoulders has formed on Daily. It didn't even complete a decent looking right shoulder, which shows how strong the bears were to push the index.
Moving averages are all bearish with 200 >21 > 7 MA.
The interest rate hike has shifted attention to possible inflationary measures in the future for the US.
This has resulted in Investors taking their money...