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:
Since Bitcoin has proven to be inversely correlated with the US Dollar, Q4 could be bullish for Bitcoin indeed if the USD shows the expected weakness with the potential formation of a massive H&S on the daily coupled with the bearish news as of late.
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 ...
Correlation does not imply causation. However, the dollar is causal related to both observables: BTC/USD & DXY by definition. It is unlikey that those observables are not related when the dollar causes the money flow between these 2 spaces in which they operate by definition. BTC/USD & DXY can be causal related whilst exceptions may occur.
Challenges:
Which ...
the red 5 should be finished soon - probably next week ... equivalent EURUSD a bit higher ... in case of a DXY recovery, parallel we can expect falling prices on EURUSD and Gold
This is an update to my DXY analysis from August 2015. Nothing has really changed much from that analysis except a potential top in January of 2017.
Time cycles change all the time, so I have no interest in putting too much faith even in something as consistent as the US dollar time cycle. However, I am very interested in the 618 level at ~ 84, should the 93 - ...
"The Harmonic Pattern CRAB is yet another discovery by Scott Carney and is identified by its long stretching swing points. In the crab pattern the PRZ level at swing/pivot point D is overstretched and shoots beyond the initial swing/pivot point of X. This is the main key difference between other harmonic patterns. The crab pattern, while easy to identify requires ...
DX has peaked golden gates 2. times . peak number 3 often dives .on w and mn chart its clear up movment was not supported , that down is going to be relatively fast compared to up what was sideways weeks and weeks
Long term on the weekly timeframe we can expect the US Dollar to rise up. However, if you zoom in on smaller timeframes you may see short term sell offs to gain power to head to the upside of the lower 100’s. Follow me on Instagram to follow my journey soon @OfficialJhoda
Flash note from Lester Davids, Unum Trading Desk analyst:
"US Dollar Index Futures(DXY): The recent price tick-up (since 30-Aug) appears very similar to the move from 27-Nov-2017 to 11-Dec-2017 - marked with grey arrows. On this basis I would caution against on being very long the USD - of which spec positioning is very long. "
