The DXY is currently testing the major red downward trend line. A break above this trend line will allow the index to re-test the 61.8% Fibo rate of 104.78. It is extremely difficult to call the FX markets now but the 50-day MA looks set to cross above the 200-day MA which will be a bullish golden cross indicator. I believe the dollar will continue to gain until...
The USD is holding onto the gains made in the second half of last week, but
with a rather quiet calendar ahead. In a holiday-distorted week, the only real
nuggets of interest are likely to be the Fed’s preferred measure of inflation, the PCE deflator, and comments from Fed Chair Powell. Both come on Friday when the US equity market will be closed for the Good...
Gold rallied on the weekend's positive news. Gold prices continued to strengthen after opening in Asia. Attentive friends will find that Morgan Jack has explained it in advance yesterday. The highest impact reached a position near 2178, but it quickly fell back before stabilizing. It is still two dollars away from my expected 2180. Even so, buying is still a...
↪️DXY has developed a well-defined head and shoulders pattern.
With the breakout of its neckline indicating a significant bearish trend.
It is likely that we will see a retracement to at least 104.05/103.91.
Pair : DXY Index
Description :
Exp FIAT as an Corrective Pattern in Short Time Frame
RSI - Divergence
Break of Structure
Completed " 12345 " Impulsive Waves
Demand Zone
Pay attention to the bullish orderblock. I want a tap into it and quick rejection. Today we should be going down and tomorrow probably form low of the week before moving higher. Good Luck!!
Hello Traders
After the FED interest rate decision, USD markets faced some volatility, now it seems the DXY market has decided its direction.
DYX had an upward momentum from "28 Dec 2023" until mid of "Feb 2024", we faced some correction after that until 8 March when NFP and Unemployment news were released.
Since then DXY has been rising slowly but surely,
We...
The Dollar Index is sitting on a very important support level, and we do not expect it to break this support and lose ground.
We expect the Dollar Index to start an upward trend with a target of 103.59. If the Dollar Index manages to push above 103.89, we anticipate the upward momentum to continue, and our next targets would be 104.445 and 104.716. 📈
Why should we always look at the dollar index?
Because the direction of all financial markets depends on the value of the dollar.
For the coming week, I expect that the price of the dollar will show an upward path from Khaed and we will see a downward direction in the opposite charts.
💵 DOLLAR_INDX, H4 💵 25 March 2024
The Dollar Index continued its upward trajectory for a second consecutive week, bolstered by the robust performance of the US economy and heightened expectations of interest rate hikes. The potential yield disparity between the US Dollar and other major currencies remained a significant driver, underpinning the greenback's...
USDX is exhibiting a slowing of short term momentum.
It is likely to test support levels to determine market strength and sentiment prior to the upcoming News releases. Failure/Success of these support levels could lead to accelerated moves beforehand.
The dollar rallied out of that wedge on the daily timeframe and it’s definitely bullish, but there’s a supply zone up ahead at the 104.75-105.50. I’m staying away from the rest of the rally up and just waiting for it to hit the supply zone To go long 6E & M6E. I’m saying my alerts right after this post! Have a great trading week everyone
Hello traders
this my idea :
Last week dollar made inverse head and shoulder, since there is no major news in this week we are focusing technically,
dollar is in uptrend and support areas are 104.269 and
104.209
