Double top short setupPrices have tried a number of times to test and break the high of 1.1961 set at 11AM with a range setting up after the nice rally look for a short to test the lows before looking to get long again.
USDOLLAR trade ideas
Dollar index ShortHi
Dollar index broke down chart pattern. Tomorrow I believe that EURUSD will go to up with EURGBP because the GBP is weak.
USDOLLAR rising wave structure.USDOLLAR rising wave structure. In our opinion, USDOLLAR's exchange rate has begun to rise. The first correction level for the rise is around 12184. We are expecting a correction from this level. Its size, we think, is half-wave size. Then we expect the exchange rate to rise again. The climb can go up to 12396 levels. If the assumption was correct, movement followed the strategy, we went back to the other processes.
Waiting for a big boost...Waiting for a big boost. We assume that USDOLLAR's exchange rate is ahead of a larger increase. Near the 11915 correction level, we open a long position. Our primary target price will be close to 12120. This is not the final level because we expect the exchange rate even higher. Up to 12400 levels, where the entire position is closed and profit realiyed. Since we are starting from a flat ATR shaft, so many people do not get long, so we expect a slower start. It may take up to several days.
Bullish short term, heading to support on the weekly chart.Seeing downward momentum but could see continuation higher for a couple more weeks but see downward pull to weekly support around 11750, before moving higher. Key support to hold on daily is 11850 (FXCM dollar index).
Potential Dollar Strength Over The Coming DaysHi Traders,
The US Dollar index approached the 11850 phycological zone and has since retraced higher. This implies that the Dollar will continue to rise against other pairs until the 11920 level where it meets a 61.8% fib + prior price structure resistance.
Take this into consideration when buying the Dollar vs other pairs. Our current plan is to wait for the Dollar index move higher to grind to a halt and to then begin to seek out short positions on USD pairs.
Good luck!
We are waiting for long entry...We are waiting for long entry . It is assumed that the USDOLLAR exchange rate will reach the 11863 correction level. We expected a strong rebound from this level. We also expect a continuous increasing of several days up to our 12403 target price, where we will close our long positions.
USDOLLAR intraday long strategyWe assume that USDOLLAR exchange rate correction is expected. Correction starts from the triangle bounded by the support line and the ATR lines. Before that the exchange rate has to move in waveforms. You can then reach the bottom of the base line. If you pemanently bend the support line 11892, the position is closed. Our target price is 12085.
USDollar BullishMarket has completed its 5-3 waves cycle. It has been in a down trend (corrective move) after the 5th wave completion since the beginning of 2017. This market has now also completed the ABC Corrective wave and its ready to form its 2nd wave of the big swing (light green). Also, it has reset the entire rallied after the Trump's victory, and sitting at the same area. This is a key area, we're likely to see USD start to go bullish from here.
Let the market tell us what to do..
Dollar Index: Potential LongLooking for a counter trend trade on the Dollar Index. Looking for a Bounce off the Daily demand zone that has been refined on the 4hr. The safer bet would be to wait for the trendline to break and go long off that demand zone but I'm still practicing and this is a good learning opportunity.
Nice reaction (speed and volatility) away from this level. Don't really like that the level is not near its origins and that price is decelerating and stair step down but price has picked up speed lately.
Constructive Criticism is welcomed.
Dollar Index (DXY) Bullish Bat 2D chartFurther Dollar weakness maybe through the whole 3rd quarter of the year.
