DXY h4In the 4-hour time frame, the dollar index can correct up to the 105.250 area and then climb up to the 105.90 area.Shortby erfantaghavi0
Strong Dollar: Geopolitics , US Economy & Tech Drive Currency UpThe US Dollar Index (DXY) is experiencing a surge, reaching unprecedented highs. This brief explores the key drivers behind this trend, including geopolitical dynamics, contrasting macroeconomic conditions, and the US's dominance in the technology sector. * Geopolitical Uncertainty: Heightened tensions in the Middle East, particularly the potential escalation between Israel and Hezbollah, raise concerns of regional instability. Historically, such events trigger a "flight-to-safety" phenomenon, where investors seek refuge in stable currencies like the US Dollar. Additionally, the potential for increased terrorist activity and political unrest in Europe as a consequence of these tensions could further propel capital flight towards the US, bolstering the Dollar's value. * Favorable US Macroeconomic Fundamentals: The US economy exhibits robust performance compared to Europe, characterized by strong GDP growth, low unemployment rates, and relatively stable inflation. This economic strength is further amplified by the Federal Reserve's stance on maintaining higher interest rates to combat inflation. These factors make US assets more attractive to investors, driving up demand for the Dollar. * US Technological Preeminence: The US is a global leader in technology, housing some of the world's most influential companies like Apple, Nvidia, Microsoft, and Google. This concentration of tech giants fosters significant economic growth and innovation. Moreover, it attracts substantial global investment into the US, further strengthening the Dollar. Conversely, Europe lags in the technology sector, limiting its ability to attract similar investment flows. This technological disparity incentivizes investors to favor US markets, contributing to the Dollar's appreciation. In conclusion, the rising Dollar Index is a result of a confluence of factors. Geopolitical tensions, particularly in the Middle East, are prompting investors to seek safe havens. The robust US economy and its dominance in the technology sector offer further advantages compared to Europe. As these dynamics unfold, the trend of a rising Dollar Index is likely to continue, presenting both challenges and opportunities for investors globally. Longby signalmastermind1
DXY | Can it break this strong resistance?Hello friends! US dollar index is rising in a channel as shown in the chart. i think it will face some serious resistance in 105.700 - 105.800 zone. in this zone we have confluence of two falling trend lines and upper border of the channel. Good luck!by Palambir0
DXY MARKET FORCASTSince the beginning of the week, the DXY has been giving us a correction after last week's impulse move. The market has already broken above the correction area, which was a downtrend in the smaller timeframes. Therefore, I'm expecting the DXY to continue pushing up further, as it has been respecting the setups from my previous analysis. This means the DXY will likely continue rising, and on the other side, we'll be looking for sell opportunities in the gold market and dollar pairs.Longby hesbonndubi00
Bro im lost on DollarMan, im actually afraid of this coming Friday (PMI). (That means use tiny risk or dont trade at all) Right now, I cant tell the bias. All i know is, we are going to see a huge push up or down, and i want to be in it. by OutlierTrading0
Moment of Truth for USD BullsDXY is testing a major technical confluence here at 105.55/71 - a region defined by the 61.8% Fibonacci retracement of the April decline, the 2023 January high, the March 2023 & May 2024 high-day closes (HDC) and the 100% extension of the June advance. Looking for a reaction up here. Initial support 104.68 and losses should be limited to the 200DMA IF price is still heading higher here. Topside breach from here exposes the yearly high-day close (HDC) at 106.37 and the 100% extension of the December rally at 106.71 -look for a larger reaction there IF reached. Michael Boutros, Sr Technical Strategist @MBForex by FOREXcom0
DXY 830 News Driver TradeDXY 830 News Driver Trade Analysis from 5m and can only publish on 15M. London session created the high taking out buy stops from the previous day. Delivering to a premium at 735 am price cleared buy stops tipping its hand that it was a high probability at 830 price would seek the FVG highlighted to rebalance. 825 candle changed the state of delivery confirming my idea price would go lower. It did and it declined through both London sessions FVG wicking through the .79 and stopping at the mean threshold of lower FVG at range 105.320. Shortby LParnell0
Dollar Index - It's One Of Those Bullish Seasons....Dollar has been in a real pickle for the last few months, with price action trading within a range which many will say it's been forever. i smell a massive explosion in the short to medium term future and my bet is to the upside. Long12:31by LegendSince0
DXY mini wave Upward(06/18/2024)DXY has a strong upward momentum. in the last few days DXY TVC:DXY faced a minor correction. right now DXY has broken the correction trendline and is possibly heading to make a new high. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)Shortby fortunamarkets0
DXY 4hour TF - June 17th, 2024Monthly - Bullish Weekly - Ranging Daily - Bullish 4Hour - Bullish Scenario 1: It is likely price action will continue higher but needs to find some footing above the 105.400 resistance zone. This would mean a bullish dollar for the week ahead. Scenario 2: If price action fails to push above our 105.400 zone we could see a sharp bearish leg. Look for lower highs with strong bearish conviction below 105.400. This would mean a bearish dollar for the week ahead.Longby ForexLeague0
Market News Report - 16 June 2024The euro and Japanese yen were the biggest losers in the past week, facing losses against several currencies exceeding 1%. Both markets declined based on their expected short and long-term outlooks. The British pound also lost some ground recently, aligning with a few fundamentals. Of course, there are other interesting developments to observe to begin yet another week in the ever-liquid forex market. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. Building on the prior week's Non-Farm Payrolls, the US dollar benefitted from positive inflation figures. Meanwhile, the Dixie or dollar index fooled many traders. It first broke the major resistance discussed last week, and just as it looked to test the previous support, it made a new high, breaking the resistance at 105.742. So, the next resistance target is at 106.490, while the support lies far below at 104.257. In short, DXY looks more bullish than bearish. Long-term outlook: weak bearish. Despite the technicals, the long-term outlook is 'weak bearish.' This is based on the Fed keeping the interest rate unchanged last week and the potential for the central bank to cut it at least once this year. The latest inflation data also went against the greenback. However, positive changes to upcoming news, such as retail sales, could strengthen the dollar. Euro (EUR) Short-term outlook: weak bearish. The euro still feels the effects of the recent interest rate cut by the European Central Bank, along with negative inflation data. The euro closed the week by breaking two support levels, confirming this short-term outlook. So, we should expect this market to test the nearby support at 1.06494. Meanwhile, it is a considerable distance from the resistance at 1.08524. Thus, the euro is likelier to test the former than the latter. Long-term outlook: weak bearish. The long-term outlook remains the same from the last few weeks, thanks to worsening inflation, a poor Gross Domestic Product, and the rate cut. With no high-impact news to anticipate this coming week, the bias must be bearish until new significant changes occur. British pound (GBP) Short-term outlook: bearish. The British pound suffered from lacklustre economic data concerning unemployment and Gross Domestic Product (GDP). Moreover, the Bank of England (BoE) has left the interest rate unchanged since November 2023 and asserted that they must be dovish for some time. The technical analysis aligns with this outlook. GBP broke the recent support (at 1.26866) discussed in last week's report. There are multiple resistance points of reference after this level. However, the key one lies far ahead at 1.24457. Meanwhile, the critical support lies at 1.28606 Long-term outlook: bearish. The new Bank of England's bank rate (or interest rate) will be the most anticipated event happening on Thursday. The consensus is for the central bank to keep the rate unchanged or potentially cut it. Still, we should expect surprises, such as the upcoming year-on-year inflation data the day prior, where the BoE remains confident of reaching its target. Japanese yen (JPY) Short-term outlook: weak bullish. While the Bank of Japan kept interest rates unchanged last week, STIR (short-term interest rate) markets indicate a rate hike next month. Lower US Treasury yields, which usually offer a bullish JPY, would also be a catalyst. Despite this outlook, the Japanese yen was technically among the biggest losers. Having breached the recent key resistance, all eyes will be on the next target at 160.233. This is significant as it would be an all-time high and a 'line in the sand' for the Bank of Japan. On the other hand, the key support is far below at 154.546. Long-term outlook: weak bullish As with the short term, the anticipated rate hike would provide JPY with an upside. Additionally, it would also be declining Treasury yields. Finally, any intervention or active involvement of Japan's Ministry of Finance through selling the dollar to buy the yen is also worth considering. Australian dollar (AUD) Short-term outlook: weak bullish. The interest rate linked to the Aussie has remained at 4.35% since November last year. Furthermore, the Reserve Bank of Australia (RBA) has revised its inflation forecasts higher. The Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. Technically, things are pretty interesting for the Aussie. We see a range amid an uptrend, along with a false break at last week's key resistance area (then 0.66986). The new support to watch is now 0.67043, while the key support lies not far below at 0.65580. Long-term outlook: weak bullish. Aussie traders will have keenly diarised the RBA interest rate on Tuesday. The central bank will likely keep the rate unchanged or raise it, which would benefit the currency. Still, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. The Reserve Bank of New Zealand (RBNZ) is very much like the neighbouring RBA. While keeping rates the same, Governor Orr indicated a hike almost occurred. They also hinted last month that a rate hike would only "be meaningful if we thought inflation expectations were getting away on us again." Like other central banks, the RBNZ is battling inflation and seeks to keep it at 2%. It comes as no surprise that NZD mirrors the price action of AUD. This market also produced a false break at last week's support level (then 0.62155). The new key resistance level is now 0.62220, while 0.60888 is the key support. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. However, incoming data regarding the economy and labour will also play a role. Furthermore, the New Zealand dollar is also a risk-sensitive currency like the Aussie, which can also be detrimental. Canadian dollar (CAD) Short-term outlook: bearish. After the recent rate cut two weeks ago, STIR markets show a 50/50 chance of the same next month. The Bank of Canada has also confirmed a dovish path. USD/CAD spanned almost the range between last week's key support and resistance areas. So, really, this market can go either way. The key support is at 1.36630, while the key resistance is at 1.37919. Long-term outlook: bearish. Besides the expected rate drops, the Canadian dollar is often sensitive to oil prices. However, any rise in the latter regard can strengthen CAD, along with upcoming positive inflation, jobs and GDP data. Swiss franc (CHF) Short-term outlook: weak bearish. STIR markets see a 76% chance of the Swiss National Bank cutting rates on Thursday. Furthermore, the chairperson Thomas Jordan recently hinted at intervention, where they would sell currencies like the US dollar and euro to strengthen their own. Surprisingly, USD/CHF hovers quite close to the key support at 0.88810 while being a considerable distance from the key resistance at 0.91582. Long-term outlook: weak bearish. Although high chances of a rate cut are bad news for the Swiss franc, SNB's willingness for intervention and geo-political risks may spell an upside for the currency. Conclusion The fundamental biases from last week's report remain the same for the current period. It will be interesting to see how the action unfolds on the charts, with high-impact news events to anticipate, like the interest rate decisions for GDP and AUD. Understanding the fundamental and technical sides of trading in the simplest way possible is crucial in making well-informed decisions. That's the point of these reports by City Traders Imperium.by CityTradersImperium_CTI0
US Dollar index UP to 106.500$Hello, We've identified a huge current opportunity to buy US Dollar index with a high probability in the Daily chart. Our target is $106.500 within a few days IbrouriLongby Abdessamadibrouri0
DXYWith TVC:DXY looking very bullish after respecting the trend once again, we are most likely seeing the all dollar dependent pairs going the opposite direction. What this means is that, you should look out for USD or USDT pairs gaining momentum against their pairs. with this, I can confirm that $BTC/USD will still come down to around 62k. Note; This is my opinion and not a financial advice. Do your own Analysis.by MegaTradergain0
DXY Trading Journal Analysis DXY Trading Journal Analysis It seems likely for Price to gravitate to the noted Buy Stops Target at range 105.897 for the weeks high. I suspect that Price will seek to rebalance the noted 4 IFVG and potentially take out the clean equal lows for the weeks low. by LParnell0
DXY Trading Journal Analysis DXY Trading Journal Analysis Great week of Price delivery. It seemed likely that Price would seek the noted buys stops at range 105.184 and it did that easily on Monday. Tuesday Price rallied to the mean threshold on the 4 IFVG and just kissed the buy stop target at 105.458. The news impact on Wednesday drove Price to seek lower prices by rebalancing the previous weeks BISI. Thursday and Friday Price retraced Wednesdays range and rallied to fully rebalance the 4IFVG and take out my buy stop target and surpass it. Very pleased this week as my targets were achieved. by LParnell0
DXYWe looking for long term selling opportunities as the market is respecting the support zone and its basically forming a bearish flag patternShortby officialpotego_fx0
Dollar's Rally Wins Over Traders as Fed Decision LoomsThe U.S. dollar capped its strongest weekly run since February, buoyed by a shift in sentiment among traders as they awaited the Federal Reserve's upcoming policy decision. After weeks of anticipation of potential interest rate cuts, the market witnessed a reversal as the greenback regained its allure. This recent surge comes from a five-day winning streak for the Bloomberg Dollar Index, a gauge of the greenback's performance against a basket of major currencies. The index rose by over 1% during this period, marking its most significant weekly advance since early 2024. This bullish sentiment towards the dollar is a reversal from earlier market expectations. Previously, many traders had positioned themselves for a dovish turn from the Fed, anticipating potential interest rate cuts in the latter half of the year. This anticipation has contributed to a weakening of the dollar in recent months. However, recent economic data and comments from Fed officials have cast doubt on the likelihood of imminent rate cuts. Upticks in inflation figures and a robust labor market have fueled speculation that the central bank might maintain its current hawkish stance for longer. "The recent economic data has painted a somewhat different picture than what the market had initially expected," noted Sarah Lopez, a foreign exchange strategist at a leading investment bank. "Stronger inflation readings and a resilient job market suggest the Fed might need to stay the course on its tightening policy for a while longer." This shift in expectations has prompted traders to reassess their positions. Many who had previously bet on a weaker dollar are now scrambling to cover their short positions, leading to a surge in demand for the greenback. "We've seen a significant unwinding of short dollar positions in recent days," commented Michael Jones, a currency trader at a major financial institution. "The market is starting to price in the possibility that the Fed might hold off on rate cuts, and that's giving the dollar a much-needed boost." "The Fed's language will be critical in determining the dollar's next move," said Lopez. "If the statement suggests a continued commitment to fighting inflation, the dollar could extend its gains. However, any dovish hints could trigger a renewed selloff." Beyond the immediate impact of the Fed decision, the dollar's long-term prospects will depend on several factors, including the relative path of interest rates in the U.S. compared to other major economies. "The dollar's strength will likely hinge on the divergence between U.S. monetary policy and that of other central banks," explained Jones. "If the Fed remains hawkish while other central banks stay accommodative, the dollar could continue to appreciate." The recent resurgence of the dollar has implications for various asset classes. A stronger greenback can make U.S. exports more expensive and less competitive, potentially weighing on corporate profits. Conversely, it can make dollar-denominated assets, such as U.S. Treasuries, more attractive to foreign investors. In conclusion, the dollar's recent rally underscores the dynamic nature of currency markets. As economic data and central bank pronouncements evolve, so too do investor expectations. The upcoming Fed decision is poised to be a pivotal moment for the dollar, with its outcome likely to shape the currency's trajectory in the coming months. Longby bryandowningqln0
DXY IDEA Just a view from my point where we can see Dxy sweeping the highs and might be seeing a retracement AND BUY only if we get a sign of bullishness targeting the equal highsLongby ronath330
DXY Weekly Out look 16 June 24Monthly: Price has been taken the PML & April Low liquidity, Now its momentum is up side towards the M-BSL- 106.200. Monthly Bias: Bullish Weekly: Price has closed upside forming a W-VI from the previous week opening, a W-MSS+ has been formed. So the weekly momentum is bullish in weekly level, but as there is a W-VI in the upcoming week the price could a give a shallow reverse to the VI then the actual move will be formed. In the weekly level the upside target is 106.169. Weekly Bias: Bullish Daily: The price has been coming from the Daily OB from bellow, it already formed a body closer in the weekly Imbalance, & the price has been taken the D-BSL up side, so as the daily level BSL has been taken so in the up coming week the price could give us a shallow pull back towers the D-OB-CE then it will move upwards. Daily Bias: bullish Longby Trader_PKR0
Bullish dxyPrice has shown a willingness to go higher so certain areas are expected.Longby Thunder_Fx0
DXY - Weekly Forecast - 17 June 2024My view on Dollar Index is bullish bias. Looking for buy entries at the levels indicated. Long03:40by TraderRiz0
USD looking for some pullbacks to go longHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Pullbacks would be good for going long. Eurusd looks weak. But Gbpusd, audusd and nzdusd arent that on a higher timeframe. They are also at key levels , watching to hold or not... Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. ********************************************************************* by Shadowing_The_Big_Boys0
DXY LONGTERM BAIS.This thesis is solely based on technical approach. The boxed overview explanation will be that i'm anticipating dollar to dump after this current sweep on the 4hour TF , advancing towards the downside im looking forward to price attraction towards the equal lows which in my personal experience holds valuable liquidity. i anticipate the dowside liquidity to be taken as well as the low that created the new high, before advancing upwards. no financial advice, just personal idea hopefully the coin flips in my favour, its a risk worth taken on the dollar quote currency i trade. tell me what you think about next week? Godbless.by ombejonathan0