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USD Index is in a bullish impulse up from 2018 lows; now with final wave 5) in play. Wave 5) that is unfolding out of a triangle correction can be underway to around 98.50/99.00 region, where bulls may slow down if we consider that legs out of a triangle are final in the sequence, so a higher degree retracement may occur during summer time.
Hello Traders, welcome to the Weekly Forex technical analysis. Today is May 19th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the weekly chart just to get into the calendar, and have an outlook into the upcoming week. Looking at the Dollar Index here on a weekly time frame, we can see we got a minor correction and finally it moved back...
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DXY found resistance at the 98.34 level after the release of the US GDP (Gross Domestic Product) Q1. *Chicago PMI *CB Confidence * ADP Non-farm Employment Change and THe ISM Manufacturing PMI four Report looks better then ever . Until date 1, these three market mover data. last week's GDP growth and was solid. These reports are better then the ones that are...
The March ’08 advance is labeled as a corrective upswing, a Zig-Zag pattern. Using Fib-price ratio model for this pattern combined with internal price measurements, we have three fib-price ratios converging, heightening the probability that the five-wave sequence (i)-(v) has ended within the last C-wave (circle) of the corrective Zig-Zag pattern indicating the...
DXY still shows strength and moving to the upside as per our expectations targeting the prior high. We will change our expectation once price prints a lower low on daily candles. Stop loss is 97.40.
I'm looking to short the Dollar w/ market speculation and price action. We all know trade wars are getting ugly, Trump increased tariffs on China to 25%. Which is only going to make price increases on the consumers in the US economy, as well as make enemies. GDP growth is neutral and stocks are only looking good due to buy backs. This could be the turning point for USD.
DXY is the most important chart you should look for every day for being the most important factor moving market.
I am expecting DXY to move lower for 2-3 trading days but not more, so keep eyes open for any possible reversal to complete its next up move.
Your likes would allow many TV members to see and get real profits from this chart.
DXY relies at a crucial point right now. We could see a huge movement to the upside following this last fib 61.8 retest. It will be important to see how the US dollar moves today and for the remaining of the week. A break of the trendline could also be the start of an enormous downside move but as I said I'm bullish on this one. Next target should be at least 98.5...
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
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