DXY reacted as expected on the 0.559 Fibonacci together with its EMA retest. Indicating it's looking for further highs. My Expectation here would be or -0.309 Retracement resistance. This upwards move is indicating quite hard times for all assets valued in US-Dollar, especially looking at you crypto.
It takes a long time for the world reserve currency to die, but it is an eventuality. A "When" and not a "IF".
This analysis is based on my own bias reading using Elliott Waves, and also on a few other major issues:
1. The US debt of 34.2 Trillion.
2. The atrocities happening in the US and committed by the US worldwide (if you don't know what I am talking about,...
As mentioned in my previous analysis on EURUSD, what I was looking for came to pass. The large swing move did not occur yet, so i'm anticipating one more spike up higher before we head to the downside.
I have a few things leaning towards my short bias:
1. Seasonal tendency for the USD is stronger. This is suspect for XXXUSD pairs to be going up.
2. May's...
We are looking for a rally in price as we are trade around our 1H/4H Demand zone and we have a ranging market that is set to trick many of us to take early trades.
We have to waith for price to break out of this range to the upside for us to shorting positions on GOLD and Us100
It is pretty much a sealed deal that the Federal Open Market Committee (FOMC) will hold the line tomorrow at 6:00 pm GMT, keeping its overnight benchmark rate unchanged at 5.25%-5.50% for a sixth consecutive meeting. While there is no update for economic projections at this meeting, you will recall from the last policy-setting meeting in March that the quarterly...
Considering the recent rising wave, it is expected that the index will pass through the resistance range and influence above this range. In this case, the continuation of the upward trend will be more likely.
The DXY is pulling back ahead of the FOMC statement and the US non-farm payrolls. The key support levels to watch are at 105.11 and 104.77. A failed break below this support range will allow the DXY to climb back to the 2023 high of 107.35.
The main drivers behind the DXY pullback are the drop in US 10year yields and the appreciation of the battered Yen.
Bias is Bullish.
Price has rebalanced the +FVG,
and now looks ready to target
the buyside LQ, providing the
FVG holds firm.
Expecting an Internal->External
move.
We are just shy of the 2nd
standard deviation.
I enjoy any feedback or questions in the comment section.
All opinions are welcome!
LIKE or BOOST this post, if you would. I would be appreciate...
I analyzed this trade in mid-April when I saw the strength of the dollar. My analysis is based on ict concepts ,
I relied on seasonal trends, Cot, Open Interest, Quarterly Qhift, Drawn Liquidity, Structure, HTF PDA, Premium and Discount Arrays,
I would label the correction that has been occurring for the past two months as a running double three (W-X-Y) as depicted in the chart. The W wave is a zigzag and the "running" X wave that retraces beyond the W wave is a zigzag (abc) with the 'a' wave being an expanding leading diagonal as described in my previous post. I will label the correction that occurred...
Just beautiful how price is moving since we created the HL in January this year. We should be retracing a bit...giving BTC and Gold and equities a bit of a relief. But make no mistake... pain is coming. A position in a USD long pair should be the trade of 2024 if the DXY continue its uptrend.
we can see that in this zone of the SRSI the dollar makes its biggest downward move .
The momentum looks to be dying and possible rolling over .
next target at the bottom of the trend and if broken I expect a massive crash
Price playing on a weekly key zone. It has been swinging the whole week but my bias is still long.
On the daily chart we have a buy confirmation entry in form of engulfing body with a complete bullish setup on the 4hr.
Here is my analyse on DXY and I'm on a good running profit. For those who did not catch this move, wait for a retest on the blue zone to execute a trade or once all entry are fulfilled.
Please, check our technical outlook for DXY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 105.841.
The above observations make me that the market will inevitably achieve 107.241 level.
P.S
We determine oversold/overbought condition with RSI...
