DXY Technical Analysis: Bearish Gartley Pattern Signals Short-Term Reversals
The DXY (U.S. Dollar Index) has recently completed a bearish Gartley pattern, suggesting the potential for a short-term reversal in trend.
The DXY may also test the 106.50 level before resuming its downward movement.
Focus on FOMC:
Since the pattern’s completion, market attention has...
Hey folks,
Exciting developments in the world of trading! 📈📉 The dollar index just made a significant move, breaking and closing below a major daily support level. 🚀 What's more intriguing is the response afterward—a bullish retest that's met with a strong bearish reaction. 🐻💥
This could be a game-changer, indicating a potential downward trend in the dollar...
doubt this bubba has lefs expecting a reisting of breakout area followed by a loss of support resulting in a deviation
IF not then big hammer above is where we would likely have tonnes of liquidity and reverse there
above that God help us:)
🏃♂️The DXY index is moving in the Ascending Channel and seems to have broken the 🔴 Heavy Resistance zone($105.88-$104.65) 🔴, and is currently moving in a small Descending Channel and making a pullback to this zone.
🌊According to the theory of Elliott waves , it seems that the DXY index has succeeded in completing the Zigzag correction(ABC/5-3-5) inside...
Hello my fellow trader, financial market analyst, Cryptocurrency lover; readers and supporters, how are you feeling today?
Conclusion?
👉 The DXY is bullish!
(You know what this means?)
Let's read the chart together for learning purposes, fun and entertainment, or just to clear any doubts regarding my conclusion statement.
Feel free to boost before...
We observed two unusual breakouts on the DXY chart.
The market had been in a consolidation phase for about a week plus, during which the price formed a triangle pattern and a horizontal range.
Both the triangle support and the range were broken, indicating strength in selling pressure.
This suggests that the price could potentially drop to the 105.00 support level.
The DXY has made a bullish reaction off the pivot and could potentially bounce higher towards the 1st resistance.
Pivot: 105.52
1st Support: 105.08
1st Resistance: 106.29
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable...
Technically speaking USD has been ranging from 100 to 105 for a long time. it had an up break twice but got rejected. This time is different and that is due to the break not getting rejected.
Market move showing a big bull run incoming targeting 110 area. Expecting FED to keep rates steady due to GREEN CPI readings making them kind of unable to do so. The only way...
Price action analysis for DXY.
Important key levels.
Potential scenarios ahead of FED interest rate decision.
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Considering that the support trend line has been broken, as long as the price fluctuates below the green resistance range, the continuation of the downward trend is likely
We expect DXY to rally this week, our first target is the old high at 106.20.
If the dollar stays strong, we have even higher upside targets of 106.5 and 107.20 in the near future.
A higher dollar suggest a risk off scenario, hence we could see lower prices in other assets eventually.
This is no financial advise! Do not risk real money on any idea published by us.
The dollar dropped yesterday and was taped to the H4 FVG this morning during the ASIA Session. The daily candle did not close below the Dialy inverted level.
A strong move up and H1 close above the inverted FVG are signs that the low of the week was probably created and we could see a potential move.
🟠Rules
- No liquidity raid = No trade
- Never buy high and...
As we discussed on the yesterday's live stream,
Dollar Index broke and closed below a key daily structure support
after a consolidation
Retesting the broken support, we see a positive bearish reaction to that.
It makes me think that the market will drop lower.
Next support - 105.2
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