DXY Bullish Narative Bullish, 100 reasons why Tradingview asking for a long description, cba typing one so yeah...Longby DannyKhan131
TRADING EDUCATION FROM A SIX FIGURE FUNDED TRADER!Why high volume order blocks created by high volatile news are the best and most well respected order blocks. Price creates a order block with untapped orders due to volatile news. Following this you have price reenter this area triggering these orders and tying it in with FOMC creating a strong correlation with USD pairs.by Theintuitontrader1
DXY hello everyone, price has reached the major support area, the price is starting to pick up from the support area, price will likely test 104.2 or above if the resistance breakout.. goodluckLongby baigxyUpdated 26
Mc Donald pattern on DXY ? Fundamental, precious metal, bond yield, let see if the DXY will fall to complete the ''M'' patternShortby ianmercier812
Dxy now bearish trend Hey there on dxy with 1h TF shows that it's continue now bearish trend so we expect that can retracement area to sell area will be short here Shortby DvsTraderfirm0
DXY Strengthens Post-FOMCAfter the latest market session and subsequent FOMC meeting, where a dovish tone was perceived due to the announcement of future rate cuts, the U.S. Dollar Index (DXY) is demonstrating an interesting technical picture. While the CPI remains high, signaling continued inflation concerns, the DXY's response has been somewhat paradoxical, showing strength instead of the anticipated weakness. Technical analysis: Contrary to expectations, the DXY has rallied, testing a resistance zone near 104.60. This recent bullish behavior is challenging the previous downtrend narrative. Despite Powell’s dovish remarks indicating future rate cuts, the Index has managed to climb above the significant psychological level of 104.00. The ascending trendline, marked by the black line, supports the uptrend since the last significant low. The green shaded area represents a support zone that has propelled the recent upward movement. Should the Index sustain its rise and break through the current resistance, we might see it attempt to challenge the 105.00 level. Conversely, if the Index reverses and breaches the ascending trendline, it could signal a return to bearish sentiment, potentially revisiting the support around 103.00. Our position: In light of the recent strength in the DXY, despite the dovish FOMC stance, we adopt a bearish approach. While our previous stance was also bearish, the current price action compels us to reassess. If bullish momentum persists, we may look for long opportunities on dips, in line with the Index's strength. However, we remain vigilant for any signs of reversal, which could validate our bearish outlook and offer sell opportunities.Shortby TradingFXio1
DXY - 4h - NEW UPDATEDXY - 4h - NEW UPDATE Nothing bearish for now on 4h. Testing resistance zone now.by sfc952
Dollar Breaks Out Of Tight RangeIn continuation of my dollar analysis for the near term, the DXY broke out of the wedge to the upside. Bitcoin & Gold are strong & oil is steady as of now but can easily pop to the upside with the wars & geopolitical situation in the world. I also still believe strongly that the markets will continue to rise ahead of the elections. This week seemed to follow the trend i believe will continue until October & November. This is a follow up to my recent idea of the DXY & the total market including the troubled banks that have exposure to commercial real estate.. (stock market is not correlated with the economy anymore)Longby FuturesXray0
DOLLAR_INDX,DXY H4 22 March 2024💵 DOLLAR_INDX, H4 💵 22 March 2024 The Dollar Index, tracking the greenback against a basket of major currencies, rallied following the release of better-than-expected US economic data, bolstering confidence in the Federal Reserve's optimistic outlook. With US Initial Jobless Claims declining to 210,000, surpassing expectations, and Fed Chair Jerome Powell reaffirming the strength of the labor market, investor sentiment favoured The US Dollar. Meanwhile, rising US Treasury bond yields further reinforced the Dollar's upward momentum, reflecting heightened market confidence in the US economic outlook. The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout. Resistance level: 104.00, 104.50📉 Support level:103.20, 102.55📈Longby top_fx1
PLAN DXY Find trendline areas➡️ Long-term #DXY analysis (March 11 - March 16) We doubt US data will move the Dollar much today and instead, investors are waiting to see if Friday's February NFP jobs release does indeed correct lower from the strong gains in January and December. Consensus is around 200K and any lower would probably be good for risk assets in that it would allow the short-end of the US yield curve to come a little lower. Given the DXY is heavily weighted to European currencies and that we are negative on the Euro today, DXY should find some support in the 103.00/103.30 area today. Friday's NFP data will be the bigger catalyst for a move. After touching POI on the weekly frame, #DXY had a strong withdrawal phase, proving that selling pressure appeared, breaking the inside bar pattern and then closing the candle body down. It is predicted that this week #DXY will have a slight recovery then continue to fall to 101,788. Shortby Phenol_fxUpdated 1122
Levels discussed 22nd March Livestream March 22nd DXY: Continuation of the upside, retest 104.60 resistance level. NZDUSD: Sell 0.6000 SL 20 TP 45 AUDUSD: Sell 0.6495 SL 20 TP 50 USDJPY: Stay away for now GBPUSD: Sell 1.2585 SL 30 TP 65 EURUSD: Sell 1.0785 SL 20 TP 60 USDCHF: Look for reaction at resistance 0.9050 USDCAD: Look for reversal at resistance, Sell 1.3605 SL 20 TP 60 Gold: Could retest 2147, look for reaction at the key support level.by JinDao_Tai5
USD: End-of-week rally looks overdoneThe dollar has found good support since yesterday afternoon when some US data prompted a USD/risk-off rally. The Leading Index printed a positive month-on-month number for the first time in two years, likely thanks to the strong equity performance and a weather-related rebound in the average work week. Existing home sales also surprised on the upside, rising from 4m to 4.4m. Consensus was understandably for a decline given mortgage applications have been falling. S&P PMIs were also published yesterday and showed good resilience in manufacturing, but slightly softer services. The jump in the dollar appears overdone. The Federal Reserve sent a rather clear message earlier this week: some resilience in activity data won’t be a barrier to cutting as long as inflation shows downward momentum. The USD two-year swap rate climbed by some 5bp after yesterday's data, but remains 5bp below the pre-FOMC levels. The dollar rebound appears to have exceeded the rebound in rates. We suspect the central bank’s dovish surprises in Switzerland (rate cut) and the UK (less hawkish narrative) have contributed to the strong dollar momentum.Shortby ElliottwaveSpecialist1
DXY Will Go Up From Support! Long! Here is our detailed technical review for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 103.497. Considering the today's price action, probabilities will be high to see a movement to 104.788. 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 111
DXY - 21 March 2024Be aware!!!!! Look at daily candlesticks formation, it seems like reversal pattern is forming, yesterday (Wed) FOMC push price lower and close at almost the lowest price of the day, and today (Thu) price open low with a significant gap. This seems like a scary pattern that DXY is about to reverse and go bearish. HOWEVER, price has never violates the significant low (the bottom being supported from the bullish gap from the left) until now, to me I'm still holding bullish bias. This quick and sharp drop could be a trap to mislead traders to turn into short bias. If demand starts to take back control, slowly and gradually putting in small HH & HL, I will be looking for Long.by FX_ArteezZUpdated 1129
possibility of uptrend According to the behavior of the index in the current resistance range, possible scenarios have been identified. The likely scenario is the continuation of the upward trend, and if a deep correction is formed at the 138% level, the blue path will be likelyLongby STPFOREX3