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USDOLLAR trade ideas

US Dollar Bounce & What It Means For Gold!Hey Traders, I am seeing a new Macro Trend Beginning on US Dollar Index 0.08%. If you are not sure what my conditions are for a trend reversal, Please check out my recent tutorial on "How to read structure (Charts) Tutorial. Charts 1-5" (Linked Below In related ideas). I think the dollar is setting up for a small bounce here and this may cause a pullback in the metals. I do think the dollar will most likely remain in its daily downtrend and Gold -0.13%will remain in its daily Uptrend but this is a good opportunity for a short term long position in the Dollar index 0.01%. Price has broke and close above its previous high twice followed by a nice pullback giving us a good entry. I will be looking for two targets on this trade. If target 1 is reached, I will be looking to roll stops up to my entry price to lock In profits. Entry- 12207.00 Target 1- 12240.00 Target 2-12272.00
FX:USDOLLARLong
by Alec40
Imminent US Dollar 2017 low?Fundamentally the Dollar is set to rally to 12,240 - 12,250 following an upward revision in 1st quarter GDP data and the build-up to the June FOMC meeting in which the Fed is expected to raise rates by 25bp in line with the three rate hike forecast since December. The final hurdle to cross is the June NFP due this coming Friday - in which only a strongly disappointing report can derail this plan. Strongly disappointing in this context would have to show less than March job growth, with its low number of 98k. Inflation remains on course according to the Fed, and fears that they are falling behind the curve will sustain pressure on the FOMC to hike the Fed Funds rate. Technically the FXCM USDOLLAR has been locked in a falling wedge pattern since December and the reversal from Mondays low has reconfirmed the lower trendline. As the falling wedge approaches narrowing convergence; the FXCM USDOLLAR is facing an imminent breakout during the second quarter - with fundamentals pointing to the upside. Expectations of an upcoming 2017 USDOLLAR low becomes probable during June - July.
FX:USDOLLARLong
by Lifestudent38
The USDollar Is Still Bullish | DXY is Outdated!This is not DXY, which is a different measurement of the dollar. The DXY is outdated, yet some trade books and even traders still look at it randomly over more accurate dollar indices, such as the trade-weighted dollar index established by the US Federal reserve. So far, a trade-weited index is not available on Tradingview. There is also the Wall Street Journal Dollar Index called BUXX that is also not available on Tradingview. Initially, DXY reflected the US trade partnership with the Euro, but it was never updated as US trade partnerships expanded globally. So, the trade weights in DXY is outdated. You will not get an accurate picture of what is going on. The Trade Weighted U.S. Dollar Index can be found here at the US Federal Reserve's website: fred.stlouisfed.org They have also written an article called "Is a Strong Dollar Better than a Weak Dollar?" research.stlouisfed.org And even if the dollar becomes weaker than ever, this would be good for exports and for stocks. Money will pour in more to support the US economy because of the value that it offers to investors.
FX:USDOLLARLong
by Rocketman