DXY uptrend continuation DXY show a clear view of bullish move continuation for the month of June 2024 after NFP news release last week Friday. Traders, keep in mind to expect more bullish move for USD and take caution when trading against USD. I wish you all success ..Longby Olumine2
Market structure of DXY on 4-hour time frame4H is swing bullish => current is pullback dow The current price touches the demand zone block We will buy when the 15-minute frame shows a reversal of the CHOCH signalby quangcttnUpdated 10
DXY H4Let's break down the analysis of the DXY (US Dollar Index) 4-hour chart step by step. ### Key Levels and Trends: 1. **Support and Resistance Levels**: - **Resistance Levels**: - 106.170: This is a significant resistance level marked by the uppermost black line. - 105.383: Another resistance level, indicated by the middle black line. - **Support Levels**: - 103.633: This is a crucial support level, highlighted by the lower red line. - 102.717: Another key support level, indicated by the lower black line. - 101.476: A major support level represented by the lowest red line. 2. **Current Price**: - The current price is 104.558, which is marked slightly above the middle of the chart. 3. **Potential Scenarios**: - **Bullish Scenario**: - If the price breaks above the 104.772 resistance level, it could move upwards towards 105.383. - A sustained break above 105.383 could push the price further up to 106.170. - **Bearish Scenario**: - If the price breaks below the 103.633 support level, it could decline towards 102.717. - A break below 102.717 would be significant and could lead to a further drop towards 101.476. 4. **Price Channels**: - The price has been moving within a descending channel, which is marked by the two diagonal lines. - The upper diagonal line acts as dynamic resistance, while the lower diagonal line acts as dynamic support. 5. **Price Action Analysis**: - The price has been consolidating within the range of 103.633 and 104.772, indicating a potential accumulation phase before a breakout. - There have been previous instances where the price tested these levels, showing their importance. 6. **Arrows and Possible Movements**: - The upward arrows indicate potential bullish movements if the resistance levels are broken. - The downward arrows show potential bearish movements if the support levels are broken. ### Summary: - **Bullish Potential**: A break and close above 104.772 could trigger a move towards 105.383 and possibly 106.170 if the bullish momentum continues. - **Bearish Potential**: A break and close below 103.633 could open the door to 102.717, with further downside potential towards 101.476 if bearish momentum persists. ### Conclusion: Traders should closely monitor the key levels of 104.772 and 103.633 for potential breakouts. A move above 104.772 could signal bullish momentum, while a move below 103.633 could indicate bearish pressure. The price channels and the current consolidation phase suggest that a significant move might be on the horizon once these levels are decisively broken.by Sibonginkosi_Sithole-Job31
DXY will soon turn into bloodDXY will soon turn into blood and this will make the markets rebound an currencies moves faster than the recent daysShortby ALMANALALYAFAI339
DXY Thursday 6 June Initial Jobless claims This is going off the basis of a bearish reading in Initial Jobless Claims. If it’s bullish it could reverse at the daily volume imbalance. If it’s bullish it will push through it and take sell-side liquidity. Shortby joeljohnrussellUpdated 4
US DOLLAR INDEX (DXY): Waiting For Breakout to SellThe Dollar Index is currently on a downward trajectory and is challenging a crucial support level. Upon testing this support, a bearish flag pattern emerged, resulting in the support line being breached and indicating a bearish inclination. A breach below this support level would signify a strong indication for more downward movement. This would be confirmed by a 4-hour candle closing below 104.00, suggesting a possible extension of the bearish trend towards 103.60.Shortby linofx1226
DXY OUTLOOKLongterm Outlook on DXY. Expecting a weak dollar towards the end of the year. This is the technical view. On the fundamental sides, the data releases from the United States has continued to weaker on every release. Also, there is expected rate cut on the interest rate. Shortby L2EarnedUpdated 6
$DXY going higher!I expected TVC:DXY to dive to 97 before this because I didn't think the BOJ could hold on this long. I guess we need the dollar to go higher to make the BOJ to dump treasuries so the FED can cut rates and metals can hyperinflate. TVC:DXY is bull-flagging and TTM squeeze is ready on EVERY TM! That means a huge slam for gold is coming up...Longby EmptyEternityUpdated 2
Potential gartley pattern DXY Dxy currently expanding into the 4th leg of the macro bearish Elliot wave Looking for distro within the green lines then retrace down for the last drop down to the 5th leg Elliot wave combined with harmonics perspective Dxy expansion means Usdxxx pairs are bullish Xxxusd pairs are bearish (yes that includes crypto ;) Then once dxy makes the lower high it will start to retrace meaning Usdxxx pairs will be bearish Xxxusd pairs will be bullish ( and yes that means crypto :)by Onlypips4xUpdated 112
DXY NEXT UPDATE AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion, please feel free command me.Longby AronnoFx5
DXY SETUPExpecting the market to move as noted. Using SMC and price action makes it easy to understand the marketby LetsgototokyoUpdated 111
Bearish/Bullish DXYDxy is looking to retrace at 104.800 as in technical bias, looking to go short then bullishby rejoicem76Updated 2
DXY: an indicator to forecast Bitcoin’s directionJust like USDT Dominance, US Dollar Index (DXY) has a somewhat inverse correlation with Bitcoin's direction. If we look at the DXY historically, whenever the DXY was in a downtrend or sideways movement, Bitcoin was in an uptrend. Also, whenever the DXY was in an uptrend, Bitcoin was in a downtrend. Simply put, if the DXY goes up, that means the U.S. dollar is gaining strength or value when compared to other assets and currencies. So, people/traders tend to hold the U.S. dollar instead of, say, Bitcoin. And when DXY goes down, that means the U.S. dollar is depreciating in value, so people/traders tend to hold other assets like Bitcoin or Gold.by SaeedSalehiniaUpdated 3
DXY - SHORTDXY - Short, if the market is correct to the downside it will push up and news might drop it back. its depends how the market corrects. both possibility in this read the market and trade accordingly . V.RaguShortby Ragunath-London2
DXY Index 20 May 2024DXY Index Analysis Week - 20 May 2024 Daily - Range Cloud (D) - Within Cloud Weekly - Range Cloud (W) - Above Cloud Mid Term - Range _________________________________________________________________________________ Apr/May Central Bank meeting: ECB - Neutral BOJ - Dovish FED - Neutral BOE - Bearish Vote, Neutral Fwd Guidance / Mixed RBA - Neutral / Mixed BOC - Neutral (Refer USD for Direction) _________________________________________________________________________________ Comments Staying neutral while waiting for new price development _________________________________________________________________________________ Risk Disclaimer All information provided is based on my personal experience and it does not ensure future profits. This is NOT a trade recommendation for you to copy. If you decide to act upon the posted information, the trade decision is taken at your own risks. Any advice given is deemed to be GENERAL advice. This information or advice given does not take into account your full objectives, current financial situation or needs. Therefore, you should consider the appropriateness of the advice before you act further. The trading of stocks, futures, options, spread betting, spread trading and CFD trading and any other leveraged trading activity involves risk. You should not trade with money you can’t afford to lose. Be honest with yourself. Thank You for browsing here. I wish you the best of luck and hope you make a fortune. Just make sure you do it over time and don’t try to make your millions in a week or day. by TY-TradingUpdated 4
DXY bearish Elliot wave structure 1.DXY just like my previous idea came to the lower end of the expansion move now headed into a retracement to create the 5th and final bearish leg Meaning looking at xxxusd pairs to be bullish to end the week into next and usdxxx pairs be bearish 2 If it doesn’t break below the 3 leg then it has a probability of reversing / accumulating to the upside causing Xxxusd pairs to continue lower and usdxxx pairs to continue higher PAYtience pays Shortby Onlypips4xUpdated 1
Dxy analysis for the week Dxy already hit tp1 and is now consolidating in a zone where it’s either creating a higher low (#2) of a bearish Elliot wave structure or expanding higher to break the range for its target of liquidity resting above the x and d legs of the harmonic Keeping eyes on it Correlation to keep In mind is: If Dxy bullish then Xxxusd pairs bearish USDxxx pairs bullish And vice versa by Onlypips4xUpdated 228
DXY IndexPair : DXY Index Description : Completed " 12345 " Impulsive Waves and " A " Corrective Waves Break of Structure Demand Zone Fibonacci Level - 50.00% / 61.80% Bearish Channel in Long Time Frameby ForexDetective2
uptrend It is expected that the resistance range will be broken and then a consolidation will be formed above the resistance range. Then the continuation of the upward trend will take place and it can progress up to the previous ceiling rangeLongby STPFOREX1
idea on a chartWe have a great trend that id forming lets wait and see where the chart takes us. Next week looks great for trades.by EZIO-FX1
US CPI and FOMC to boost the DXYThe DXY caught support off of the red support range on the 50% Fibo retracement level at 103.97. A stronger or in line with expectations US CPI this week coupled with the Fed maintaining the federal funds rate at 5.50% will allow the DXY to break above the 50-day MA rate of 105.09 and move higher towards the first resistance level of 105.96. Over the longer term a move towards 107.5 is still firmly on the cards. The Bank of Canada and the European Central Bank (ECB) were the first G7 central banks to diverge from the US Federal reserve after they both cut interest rates by 25 basis points this week. The decision from the ECB came as no surprise to the market off the back of what the ECB described as a logical step due to retreating inflation across the 20-nation euro zone. The dollar index remained relatively muted off the back of the decision however the dollar surged against the major currencies following the stronger than expected US non-farm payroll print of 272 thousand in May, up from 165 thousand in April. The Fed will deliver their interest rate decision this week and market consensus is for the Fed to keep rates unchanged at 5.50%. The divergence between the Fed and the other major central banks is dollar positive and it further illustrates that the US economy is able to stomach the high interest rate environment while the other majoring economies have started to buckle. The Fed’s rate decision and FOMC statement will thus take center stage this week but the latest US CPI figures for the month of May will also be released along with the US 10-year and 30-year bond auctions. Longby Goose961
DXY Weekly analysisThis is the Expected move on DXY this week I'm expecting it to fall on our FVG or -OBShortby GoldenB551
DXY Will Go Up From Support! 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 104.346. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 105.651 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 116