New Week OutlookAn annotated graph of my weekly outlook for the DXY. Forex pairs (EUR/USD) (GBP/USD) are due to inversely correlate. NFALongby suliyo1
$DXY - Next Resistances to Watch *W & *D (tf) TVC:DXY *D (tf) Previous Ideas of Resistance to Watch (before & after 'play button' ) (before & after 'play button' ) Next decent Resistances for TVC:DXY to face will be the 0.5 Macro Fibb Level @107.7 level . Surpassing that via decent breakout, correction may be anticipated as a retest and confirmation for TVC:DXY to continue Higher. Meanwhile on the *W (tf), TVC:DXY managed not to close its 12 Consecutive Green Weekly Candlestick. Whats worrying is that the last Weekly Close was very Bearish in Price Action, printing whats called ' A Topping Tail ' by Mr_J__fxUpdated 5
accumulation for dollar idex we notice that there is processe of accumulation of the dollar index Shortby CrowtR1
Dollar Index (DXY): Potential Scenarios Explained 💵 That was quite a boring week for Dollar Index. The market was stuck within a narrow horizontal range on a daily. Next week, wait for a breakout of the range. Bullish breakout of its resistance will be a strong trend following signal, while a bearish violation of its support will initiate a correctional movement on the market. Next key resistance - 106.85 Next key support - 105.20 ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader3311
📊 U.S. Dollar Index Headed Towards 105/106The market moves in waves, pretty simple. ➖ Up and down. From July through October 2023 we had a major bullish wave followed by a distribution phase. From November through late December 2023 we had a correction. ➖ Up and down... We are now set to see a bullish wave based on how the market cycles through positive and negative, red and green, bearish and bullish. My target is set at around 106... As the DXY moves up, Stocks, Crypto and the rest will crash; It is inevitable... Like a wave in the ocean, it goes up and down and finally permanently gone. Namaste.Longby AlanSantanaUpdated 2020115
Possible Trend of the Dollar Index in 2023In this idea, the trend of the dollar index in 2023 is shown. In 2022, due to the fall of the stock index of most industrialized countries, we saw the growth of the dollar index, and the final resistance line according to the Fibonacci tool set at the Fibonacci level of 1.41 and the index at 114. but after that, the dollar index began to fall, and this fall has three hard resistance levels ahead, and the hardest level is the range between Fibonacci 0.38-0.5. Good luck. SEYEDby SEYED98Updated 559
You didn't think USD was dead, did you?Probably found a floor. Confirmation in the next few weeks. futures still expecting 6 cuts in 2024 revised down from 8 cuts a month ago. Lol Middle east escalation likely. Shipping crisis Strong labor and stonk market gives leeway for fed to be hawkish. Debt crisis' cooking around the world. USD remains more in demand than ever. Everyone is once again declaring USD dead. Here we go again... Longby clappy22Updated 4
USD: FX to trade only on geopolitics todayIt was reported overnight that Israel launched a retaliatory strike on the Iranian city of Isfahan. For now, it appears that Iranian media are downplaying the size of the attack, and reassured that nuclear facilities have not been affected. The news has had ramifications for different asset classes already, although the initial impact has partly been unwound in the early morning hours. After spiking above $90/bbl, Brent is trading at $89 at the time of writing, while the Nikkei dropped to as much as 3.5% but has now trimmed losses to 2.4%. Equity futures point to a -0.5/-1.0% open across US and European main stock indices while US 10-year treasury yields briefly traded at 4.50% before rising back to 4.55%. The FX market has mirrored the initial large impact and subsequent partial reversal observed across other asset classes. Safe havens are in demand, led by CHF, then JPY and the dollar, while antipodeans are the biggest underperformers. Markets will be monitoring today’s headlines very closely, trying to gauge the risk of the Iran-Israel tensions spiralling into a fully-fledged conflict in the region. If we see a further escalation, we think NZD, AUD, SEK and NOK could lead the losses in G10. The correlation of NOK and AUD with a potential spike in commodity prices is often overshadowed by the risk-sentiment factor. In the high-beta space, CAD should emerge as a relative outperformer, as it would benefit from the higher oil prices and its geographical distance, and also thanks to greater correlation with strong US data and USD. The yen can benefit from a combined effect of lower rates and risk correction, as well as potential acceleration in the Bank of Japan tightening cycle if energy prices raise inflation concerns. The Swiss franc is also in a very good position to extend its rebound, particularly given its previous role as a hedge during the 2022 European energy crisis.Longby ElliottwaveSpecialist1
Could this be the big picture of a long-term correction?The US dollar reached peaks that were never expected until a few years ago. Can the lost credibility of the world's major currencies return one day? The world will probably never be the same as it was before the Russo-Ukrainian war, but a fairer value for currencies does not seem out of reach in the long-term.Shortby Deadly_Snake2
DXY Will Move Higher! Buy! Take a look at our analysis for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 106.278. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 107.464 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 114
Levels discussed on 19th April 19th April DXY: Possible retest of 106 support level, bounce to remain within 106 and 106.40 range. (If 106 broken, could trade down to 105.75) NZDUSD: Sell 0.5920 SL 25 TP 55 AUDUSD: Sell 0.6410 SL 20 TP 55 USDJPY: Sell 154.65 SL 20 TP 80 GBPUSD: Buy 1.2440 SL 25 TP 75 Or Sell 1.2470 SL 20 TP 45 EURUSD: Buy 1.0670 SL 20 TP 55 USDCHF: Sell 0.9055 SL 20 TP 40 USDCAD: Sell 1.37 SL 20 TP 80 Gold: Breaks 2400, could trade up to 2430 by JinDao_Tai8
DXY Close To a Big Price ReversalDXY Close To a Big Price Reversal DXY is about to complete a big harmonic pattern on the daily chart. This shows that we may have a weaker USD during the coming days. The reason can be related to the FOMC and when the rate cut will happen. It's unclear if the market sees the FED hawkish comments as positive or negative about the future of the USD. During this week Powell's hawkish comments weighed a lot on the USD value. The focus will be on May 1 during the FOMC meeting and the details they will share with the public. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️Shortby KlejdiCuni3329
BULLISH BUTTERFLY (113) HARMONIC PATTERN ON DXYDXy is printing the final leg(CD) of a bullish BUTTERFLY113 harmonic pattern. The butterfly 113 pattern completes at 113XD which is around the (98.0-98.6)support zone. On ltf DXY has some bearish run downside until the support zone is reached.by Raf_Krypto223
possibility of correction It is expected that after some fluctuation in the resistance range, the continuation of the corrective trend will be formed. With the breaking of the support trend line, it will be possible to continue the correction process. If the price crosses the green resistance range, the upward trend is likely to continueShortby STPFOREX4
Macro Negative Correlation with BitcoinThe US Dollar Index TVC:DXY is negatively correlated with the macro Bitcoin BNC:BLX chart. Indicators like the Correlation Coefficient indicator will display swings from negative to positive correlation between TVC:DXY and $INDEX:BTCUSD. This can lead to a belief that they are not in fact negatively correlated. But, when you zoom out to a macro view of Bitcoin and compare, the dollar index's peaks correspond with Bitcoin's lows, while Bitcoin's peaks correspond with DXY's lows. At times, these corresponding peaks and valleys have occurred near the same dates and times, while at other times DXY has acted as a leading indicator for future movement for Bitcoin. Where will we go next? if DXY returns to its previous high and breaks it, I suspect Bitcoin will move lower on the other hand, should DXY move further down or get stuck within a range, it's likely that Bitcoin will move higher What do you think?by dudebruhwhoaUpdated 665
Quasimodo PatternTVC:DXY has formed a Quasimodo pattern that is near completion of its right shoulder. Once it crosses ~105.9, expect it to continue up towards ~112.5 and then ~116. This is the scenario I expect will occur, and I am hopeful that it will take as long as I've drawn but it could occur much more rapidly. The longer it takes, the better chance we see extended recoveries or bull runs with new ATHs in stock and crypto markets and Gold. Once it gets near previous highs, we could be in danger of a strong bear market. However there is still a chance for failure which I've accounted for on the chart and described below: Should it fail the remain above ~105.9, and then fall below ~100.8 a second time, it could instead drop below monthly resistance (not pictured, but around 98-99) and head towards ~94.8 and then ~92. I've linked some previous / related ideas for DXY and how it relates to markets in the Related Ideas section below.Longby dudebruhwhoaUpdated 33
The scientific approach to trading pairs vs dxy (How To)There are many facets to dictating near term direction on dxy. Using larger time frame weeklies, the low of week was 6 nov retest weekly topside. A near term correction from a rejection wick at 106.5 made some sense and a scalp in the opposite direction performed well. The objective was to form a new weekly low. looking at the reaction of the red week top from 13 nov. Since price hesitated at that level. a short on EURUSD was executed last night for London which sets high of day or low of day 70% of the time. The long position on AUDUSD was closed out for a profit. What NY does at lunch hour is also vital importance to the next days price action. it is noticed that this is the area asia will retest to do a bit of follow through if NY was buyers or sellers. The parameter also key to watch is oil. Oil did pull back which may indicate in 2-3 weeks dxy may pullback if oil trades lower. to the 105 or 105.5 area. but the lag will take approx 2-3 weeks to play out. If dxy is higher at that time such as 107. the fade level gets moved up to near the 106 level etc. The next dxy short opportunity will most likely be Monday april 22nd. Pre EURUSD pmis NY around 8 est normally buys EURUSD. For the release 90-95% of the time EURUSD is sold for release. It is of vital importance to stay on top of news releases. expected vs actual. the trend of data associated. Another example is of such is AUDUSD cpi next week. AUDUSD tends to price lower going into that risk event. Next weeks plan. short dxy for a few pips monday NY session. Long dxy for eur pmis release tues night. Trade Safe Trade Smart Manage Risk Respectfully Artisin. by Trade_Navigator4
DXY Daily Trading Journal Analysis DXY Daily Trading Journal Analysis Jan 2024 price changed market to a bull bias. Price weaved between premium and discount as it did seek higher prices. April 12 price ran to the noted daily SIBI from Nov 2023 to rebalance April 12. Price continued to gravitated to the November 2023 GAP/SIBI this past week. Considering that since January 2024 price has been seeking higher prices will it gravitate to the Monthly SIBI from Nov 2022 sweeping the buy stop liquidity or are we shifting the institutional flow to bear conditions? by LParnell0
DXY start to a small descending correctionHi guys, DXY braked out the ascending channel on 4H time frame and start to a correction. We want to buy it on 103.2-103.5 level to a bigger increasing movement than previous until 107-108. So be hold to reach position point. It moves in a big channel on weekly timeframe. We show you Entry point, TP & SL on chart. We glad to see your comment below. Be successes Longby takeprofitwithusUpdated 3
DXY Head and Shoulder playPossible Head and Shoulder play, in daily OB and CME tapped as head. Strong move down with respect of FVG. Forming possible Right shoulder Aggressive entry: Possible Right Shoulder forming at Resistance, OTE, respecting bearish FVG. First TP at neckline Safer entry: Wait for retest of neckline for confirmation to enter more safe trade, but watch out for FVG below, first TP and move SL to BE thereShortby THECryptoBob1
CLEAR SHORTAfter a major BOS, It makes much sense that the DXY will fall back and fill the imb left below. Shortby Michael565446
DXYDXY has wiped out the london and asian highs so we are now hoping for a reversal to the down side to take out the lowsShortby BigBenCapitals2
DOLLAR_INDX, H4 18 April 2024💵 DOLLAR_INDX, H4 💵 18 April 2024 The Dollar Index, tracking the greenback against major currencies, saw its first decline in six days as investors engaged in profit-taking amid a shift back to a cautious "wait-and-see" stance. With Federal Reserve officials emphasising the importance of incoming economic data in shaping interest rate decisions, market focus has pivoted towards data performance for further trading cues. The Fed's Beige Book report indicating modest economic growth without significant inflationary pressures has added complexity to the monetary outlook, prompting investors to closely monitor upcoming economic releases for clarity. The Dollar Index is trading lower while currently testing the support level. Suggesting the index might enter overbought territory. Resistance level: 107.05, 107.85📉 Support level: 105.80, 104.75📈Longby top_fx1