DXY on a pause before resuming the bearish wave
From our previous analysis, DXY completed the harmonic pattern.
The reaction was almost perfect considering that after the pattern was completed, the DXY moved down and reached our target.
Currently, DXY is taking a pause but should resume the new downtrend soon as shown on the chart.
You may find more details...
US Dollar picks up gains ahead of Nonfarm Payrolls
The US Dollar Index (DXY) is trading mildly higher at 105.80. The Greenback's modest upward momentum comes despite Federal Reserve (Fed) Chair Jerome Powell's cautious remarks on inflation and its uncertain future trajectory. Ahead of Nonfarm Payrolls on Friday, weekly Jobless Claims figures seem to be benefiting...
The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. Plan your technical analysis of the US Dollar Index by tracking its price in...
Here is my latest structure analysis and important
key levels to watch on Dollar Index.
Support 1: 103.88 - 104.1 area
Support 2: 102.93 - 103.25 area
Resistance 1: 105.41 - 105.58 area
Resistance 2: 106.37 - 106.52 area
Consider these structures for pullback/breakout trading.
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Bearish Scenario:
Increased Geopolitical Tensions: Escalation of the conflict leads to heightened geopolitical tensions in the Middle East, sparking concerns about regional stability and security.
Risk Aversion: Investors flee from riskier assets, including the U.S. dollar, as uncertainty rises. Instead, they seek refuge in safe-haven assets like gold, driving up...
Looking at price action tells me what the MARKET is thinking/doing. These past few days has not been easy to 'predict' movement because opposing the market are those who wish to see a weakening of the $ to drive down yield.
Anyway, lets stick with the MARKET and trade accordingly.
In all probabilities, we can see that the DXY will move higher in the coming...
Previously, The Dollar Index Formed a Bearish Double TOP Pttaern.
At The Moment, The Price Has Pulled Back to The Neckline and Failed To Break it !
So, I Expect a Bearish Move 📉
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TARGET: 105.08🎯
📈💼 DXY Update! 💼📉
Hey there, traders! 🌟 The dollar index, DXY, is in the spotlight once again! 🚀 Currently, it's cozying up to a crucial support trendline after some recent rollercoaster rides. 🎢 This area has become a hot topic, especially after a quick dip and an even quicker recovery. 🔄 But hold your horses, we're not out of the woods yet! 🌳 The upper...
The dollar index fell below a significant intraday support level on a 4-hour chart but was unable to close below it.
This support could potentially lead to a slight upward movement before a possible retracement.
I anticipate a bullish correction for the pair, with a target of 105.34 / 105.56
Check the chart for the Breakdown.
This is a bullish trend from july 2023, and a pull back began in october to jan 2024 and bullish trend began again @ P1 which is the first inside pull back. See P1
Bullish trend continue on march after a pull back that came to fill an opening gap though it broke structure for a bearish trend but because there was an...
Market Maker Buy model spotted on the DXY. Also, we can see engineered liquidity in the form of equal highs and then the final high from October.
Once the price dips to the D1 FVG, I expect inverted FVG to support price and reversal here then we can have approximately 2 weeks of up move from here.
This must work because the guy who invented this was kidnapped...
Today's US fundamentals are very bearish for Dollar Index.
After a test of a key daily horizontal resistance,
the price formed a strong bearish imbalance
and violated a support line of a rising wedge pattern on a 4H time frame.
I think that the fall may continue.
Next support - 104.9
❤️Please, support my work with like, thank you!❤️
Greetings Traders,
I'm observing a sustained bullish institutional order flow in the Dollar, targeting the weekly and monthly buy stops as my buy-side objectives. Currently, we're operating within discount prices, having rebalanced the daily discount Fair Value Gap (FVG) and tapped into the mitigation block, a zone of institutional support. Additionally, price...
I think it's possible we're going to see a big USD breakout. We certainly have near term trending action for now.
While the trend remains valid, I am looking to buy all these 76 retracements and trail my stops under the developing structure.
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 106.329.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 104.242 level.
P.S
The term...
7th May
DXY: Needs to stay below 105.50 to remain bearish, range between 105 and 105.30, break 105 support to head down to 104.55.
NZDUSD: Buy 0.6025 SL 30 TP 50
AUDUSD: Sell 0.6570 SL 20 TO 45
USDJPY: Sell 153.80 SL 60 TP 170
GBPUSD: Sell 1.2530 SL 20 TP 60
EURUSD: Buy 1.0740 SL 20 TP 60
USDCHF: Could range between 0.90 and 0.9055
USDCAD: Sell 1.3685 SL...
